Noram Ventures (TSXV: NRM) has finally received the first of its assays back from its ongoing drill program at the Zeus lithium project, located in the Clayton Valley of Nevada. Results released this morning are for hole CVZ-61, which the company previously revealed contained 91 metres of lithium claystone. Assays have indicated that 79 metres of that claystone intersection contained an average of 1130 ppm lithium.
The assays from CVZ-61 are consistent with mineralization found elsewhere on the property in terms of lithium content. The project currently contains a resource estimate of 124 million tonnes at 1136 ppm of indicated lithium resources, along with 77 million tonnes at 1045 ppm lithium of inferred resources following four phases of drilling, which is in-line with the lithium content reported in this mornings assay results.
The highlight value in terms of lithium content was hit at a depth of 44.8 metres through to 47.9 metres, where lithium was found at 1860 ppm, a signifcant figure. Full results from the drill hole can be found here.
“The completion of thick high-grade lithium claystone intersections such as CVZ-61 confirm our belief that the resource extends to the south beyond the currently defined resource area. These results will add substantially to the resource estimate and we anticipate the results for CVZ-62 and CVZ-63 to do the same.”
Brad Peek, consulting geologist for Noram’s drill programs
Noram Ventures last traded at $0.40 on the TSX Venture.
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