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Noram Ventures and Alba Minerals further encouraged by Clayton Valley lithium findings
Noram Ventures Inc (CVE:NRM) and Alba Minerals Ltd continue to be encouraged by drilling results at the Clayton Valley lithium project in Nevada.
Shares in Noram added 10% on the day.
The pair has released the third batch of core results from the 46-hole phase 1 drilling program that focused on the Zeus portion of the site.
The weighted average of lithium recorded over these first three batches is more than the average value of previously reported samples by 72%, it said.
“The lithium values continue to be consistent, both vertically and horizontally, across all 30 holes we have reported to date,” Mark Ireton , the president and chief executive said.
“These continued positive results are supporting the company’s near-term goals, which includes on-site bulk sampling testing and in-fill core drilling.”
He added that a second phase drilling program would encompass the Spartan claims, in addition to drilling along the outer boundaries of the contiguous properties, to determine the lithium content across the properties.
The third batch consisted of ten holes, which threw up 111 samples.
The lithium content of the 111 samples had an interval-weighted average of 1,072.6 parts per million (ppm) with a minimum value of 425 parts per million and a maximum value of 2,340 parts per million.
The Zeus claims are within 2km (1.25 miles) of Albemarle’s Silver Peak lithium mine that has been producing since 1966 and is the only lithium-brine production operation in North America.
Story by ProactiveInvestors
Source: http://www.proactiveinvestors.com/companies/news/175314/noram-ventures-and-alba-minerals-further-encouraged-by-clayton-valley-lithium-findings-175314.html
