- Noram Lithium (TSXV:NRM) has completed the first of its 10-hole program at the Zeus Property in Nevada
- Hole CVZ-82 was drilled to a depth of 169.2 metres with an intersection of roughly 103.2 metres
- The program intends to better define the high-grade core of the currently known lithium clay deposit
- Shares of Noram Lithium are up 1.02 per cent to C$0.50 as of 9:52 am ET, but are down 29.29 per cent year-to-date
Noram Lithium (TSXV:NRM) has completed the first of its 10-hole drill program at its Zeus Property in Nevada where it has drilled one of its deepest step-out holes to date.
In a news release, the company stated that hole CVZ-82 was drilled to a depth of 169.2 metres with an intersection of 103.2 metres of favourable claystones and volcanic.
The hole is said to have intersected some lithologies not previously encountered in the company’s previous six drilling campaigns because of their deep location within the stratigraphic section.
“While our program is focused on understanding the exciting theory of the presence of a second layer of mineralization at depth, we also included several vital step-out holes. These holes are crucial to validating our new geological model and supporting the size and extent of the resource we are dealing with. At this point we have just revealed and begun to understand the tip of the iceberg” Sandy MacDougall, executive chairman and director of Noram Lithium, said in a statement.
Now that drill hole CVZ-82 has been completed, the focus will now shift to CVZ-83 where drilling is in progress.
The company said some of the progam’s goals are to better define the high-grade core of the current lithium clay deposit as well as testing the southwest extension of the high-grade zone.
Noram Lithium will also test whether there is a second, deeper lithium clay deposit underneath the existing known deposit.
Noram Lithium is primarily focused on advancing its 100-per-cent-owned Zeus Lithium Project in Nevada’s Clayton Valley.
Shares of Noram Lithium are up 1.02 per cent to C$0.50 as of 9:52 am ET, but are down 29.29 per cent year-to-date.
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