- Noram Lithium Corp. (NRM) has recently completed two additional drill holes at its Zeus Lithium Project and shared the assay results
- Noram Lithium is a Canadian advanced lithium development stage company
- Holes CVZ-77 and -78 both started sampling near surface and ended at the bottom of each hole
- CVZ-77 highest result was 2140 parts per million lithium, while -78 was 2100 parts per million lithium
- Noram Lithium Corp. (NRM) is up 3.12 per cent and is trading at $0.66 per share as of 12:21 p.m. ET
Noram Lithium Corp. (NRM) has recently completed two additional high-grade drill holes at its Zeus Lithium Project and shared the assay results.
Noram Lithium is a Canadian advanced lithium development stage company advancing its Nevada-based project for a completed 2022 pre-feasibility study.
Hole CVZ-77 finished at a depth of 139.60 metres, while hole CVZ-78 was completed 137.60 metres deep. Sampling for the assays started close to surface and continued to the bottom of both holes.
The weighted average lithium values for hole CVZ-77 had a high of 2140 parts per million lithium, and hole CVZ-78 with a high of 2100 parts per million lithium present.
“As we continue to receive results that meet and/or surpass our expectations, our level of confidence in the resource model continues to increase,” Brad Peek, Noram’s Vice President of Exploration, said.
Peek is also a geologist working on all six phases of the company’s Clayton Valley exploration drilling.
According to Noram, the Zeus Lithium Project has a measured and indicated resource estimate of 363 million tonnes grading 923 parts per million lithium, and an inferred resource of 827 million tonnes grading 884 parts per million lithium.
Last year the company recorded a preliminary economic assessment of an after-tax net present value worth US$1.3 billion and internal return rate of 31 per cent.
“This program is providing us with vital information that will allow us to upgrade a significant portion of the resource from the inferred category to the indicated category,” Peek said.
Noram Lithium Corp. (NRM) is up 3.12 per cent and is trading at $0.66 per share as of 12:21 p.m. ET.