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Noram Lithium Corp. has initiated another round of metallurgical testing for its 100% owned Zeus Lithium Project in Clayton Valley, Nevada. Following the Phase VI drill program completed in May 2022, samples underwent various tests to refine lithium carbonate recovery processes. The company engaged Kemetco Research Inc. for further testing expected to take 5-6 months. The project aims to confirm the capability to recover high-purity lithium carbonate, supporting a Prefeasibility Study. Noram is well-funded with CAD$14 million in cash and no debt, focusing on advancing its lithium project amidst rising demand from the electric vehicle market.
Noram Lithium Corp. has engaged SRK Consulting to optimize the mine plan for its 100%-owned Zeus Lithium Project in Clayton Valley, Nevada. The project features a high-grade lithium zone with a volume conducive to long-term mining operations. An updated resource estimate indicates over 5.2 million tons of Lithium Carbonate Equivalent (LCE) available, supporting a mine life exceeding 100 years. A previous Preliminary Economic Assessment (PEA) suggested a capital cost of US$528 million with projected after-tax NPV of US$1.3 billion at lower lithium prices. Current prices have surged beyond US$70,000/tonne LCE, enhancing potential returns.
Noram Lithium Corp. announced a 190% increase in Measured and Indicated lithium carbonate equivalent (LCE) resources at the Zeus Lithium Project, now totaling 5.17 million tonnes LCE at a 400 ppm Li cut-off grade. Following the Phase VI drill program, Inferred resources also increased to 1.09 million tonnes LCE. The deposit is characterized by a low strip ratio of ~0.07:1 and high-grade core opportunities. The Company anticipates further project de-risking through metallurgical testing and a Prefeasibility Study in 2023. An NI 43-101 compliant technical report is expected by March 17, 2023.
Noram Lithium Corp. has bolstered its technical expertise by appointing Marcus Tomlinson as a Metallurgical Consultant and Dr. Vahid Sohrabi as a Hydrogeological Consultant. This strategic move aims to enhance the Zeus Lithium Project in Nevada, focusing on metallurgy and sustainable water supply. Tomlinson brings over 30 years of experience from companies like Goldcorp and Barrick Gold, while Sohrabi has extensive background in environmental services. The company's recent PEA indicated an After-Tax NPV of US$2.67 Billion at US$14,250/tonne Lithium Carbonate Equivalent, highlighting its potential in the growing lithium market.
Noram Lithium Corp. (TSXV:NRM, OTCQB:NRVTF) has announced the departure of Peter A. Ball, President and COO, effective January 31, 2023. He will be succeeded by Greg McCunn, who has over 30 years of mining experience, including significant leadership roles in publicly listed companies. The company is focusing on advancing its Zeus Lithium Project in Nevada, which has a current measured and indicated resource estimate of 363 million tonnes grading 923 ppm lithium. The Preliminary Economic Assessment indicates an impressive after-tax NPV of approximately US$2.67 billion at long-term lithium prices, suggesting a strong future outlook.
Noram Lithium Corp. has appointed Greg McCunn as the new Chief Executive Officer, succeeding Sandy MacDougall, who transitions to the role of Chair of the Board. This leadership change aims to guide the company through its development stages at the Zeus Lithium Project in Clayton Valley, Nevada. Noram is well-positioned financially, with approximately CAD$14 million in treasury and no debt, following a productive year highlighted by a successful drilling program and a Preliminary Economic Assessment indicating a potential After-Tax NPV of US$2.67 billion.
Noram Lithium Corp. (TSXV:NRM, OTCQB:NRVTF) provides an overview of 2022 achievements and future initiatives at its Zeus Lithium Project in Nevada.
Key Highlights: Completed US$14 million strategic financing; appointed new management; advanced exploration programs successfully; received analyst coverage. The company positions itself for a strong cash position and aims to finalize a Pre-Feasibility Study by early 2023, with a projected After-Tax NPV of US$2.67 billion at a long-term lithium price forecast.
Noram Lithium Corp. announced the completion of drill hole CVZ-81, reaching a depth of 451.5 feet, with the final assay results showing promising lithium mineralization. This hole marks the conclusion of Noram's Phase VI drilling program and has exceeded expectations, indicating significant improvements to the geological models for the Zeus deposit. The success of this drilling phase is projected to upgrade approximately 175 million tonnes of the deposit from inferred to indicated resource categories, bolstering the company's outlook.
Noram Lithium Corp. announced the completion of core hole CVZ-80, reaching a depth of 356 feet (108.5 m) with significant lithium mineralization. The assay results indicate an interval thickness of 238 feet (72.5 m) and a peak lithium value of 1720 ppm.
This drilling extends known lithium resources and upgrades a portion of the inferred resource to indicated. The Zeus Lithium Project has a resource estimate of 363 million tonnes at 923 ppm lithium. A recent PEA shows an after-tax NPV(8) of US$1.3 billion with an IRR of 31% using US$9,500/tonne lithium carbonate equivalent.
Noram Lithium Corp. announced the completion of drill holes CVZ-77 and CVZ-78 in Clayton Valley, with positive assay results. CVZ-77 reached 458 feet with a weighted average lithium value peaking at 2140 ppm, while CVZ-78 hit 451.5 feet, reaching up to 2100 ppm. Both holes contributed significant lithium samples, enhancing the resource's potential. The results bolster confidence in upgrading a portion of the resource from Inferred to Indicated category. The company's commitment to increasing shareholder value remains strong as they develop their lithium resource.