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Noram Lithium Corp. has successfully closed a US$14 million strategic financing agreement with Lithium Royalty Corp. and Waratah Capital Advisors. This deal includes a 1.0% gross overriding royalty on its Zeus Lithium Project for US$5.0 million and a US$9.0 million equity investment. With this funding, Noram’s working capital is now approximately CDN$18 million and entirely debt-free. The proceeds will accelerate the advancement of the Zeus project and a pre-feasibility study set for the second half of 2022.
Noram Lithium Corp. has signed a binding letter of intent with Lithium Royalty Corp. and Waratah Electrification and Decarbonization for a strategic investment totaling USD$14 million. This includes a 1.0% gross overriding royalty sale on the Zeus Lithium Project for USD$5 million and a USD$9 million equity placement. The investment is aimed at advancing the Zeus project, which has a robust NPV of USD$2.67 billion based on recent assessments. Due diligence is currently in progress, with completion anticipated by February 25, 2022.
Noram Lithium Corp. has released a Preliminary Economic Assessment (PEA) for its Zeus Lithium Project, near Albermarle's Silver Peak Mine. Key findings include a Net Present Value (NPV) of $1.299 billion, an Internal Rate of Return (IRR) of 31%, and a 40-year mine life. Estimated capital costs are $528 million with a payback in 3.23 years. The operating cost is projected at $3,355.30/tonne Lithium Carbonate Equivalent, with an annual gross revenue of $303.4 million. The project boasts a low environmental impact and is accessible via established roads.
Noram Lithium Corp. has appointed Peter A. Ball as President and Chief Operating Officer, enhancing its senior management as it prepares to develop its 100%-owned Zeus Lithium Project in Nevada. The project is progressing towards production with an upcoming Preliminary Economic Assessment (PEA), expected to be completed by year-end 2021. Ball, with over 30 years in mining and finance, aims to leverage current market opportunities in the lithium sector. The company also granted 1,000,000 stock options at $0.77 per share, valid for ten years.
Noram Lithium Corp. has made progress on its Preliminary Economic Assessment (PEA) for the Zeus Lithium Project, aiming for release in Q4 2021 with ABH Engineering. The Project's updated resource estimate includes 363 million tonnes at 923 ppm lithium (measured + indicated) and 827 million tonnes at 884 ppm lithium (inferred). This positions Noram to strengthen its strategy of becoming a low-cost lithium supplier in Europe, North America, and Asia.
Noram Lithium Corp. has announced a significant resource estimate update for its Zeus lithium property in Nevada, following the Phase V drill program. The new estimate reveals 363 million tonnes of lithium measured and indicated resources at 923 ppm lithium, and 827 million tonnes inferred at 884 ppm. This represents a 70% increase in measured and indicated resources and a 369% increase in inferred resources. The company also highlighted favorable mining conditions, low strip ratios, and a focus on environmentally friendly processing methods.
Noram Lithium Corp. has appointed Adam Falkoff to its Board of Directors, bringing over 20 years of experience in public policy and mining. The company aims to advance its Zeus Lithium Project in Nevada, which has a resource estimate of 124 million tonnes at 1136 ppm lithium. Falkoff's expertise is expected to enhance the company’s strategy amidst growing global demand for lithium, particularly for electric vehicle batteries. His leadership could position Noram as a significant supplier in the lithium market.
Noram Ventures Inc. has partnered with ABH Engineering to conduct a preliminary economic assessment (PEA) of the Zeus Lithium Project in Clayton Valley, Nevada. ABH, recognized as Canada’s fastest-growing mining engineering firm, will ensure compliance with NI 43-101 regulations. The project aims to evaluate production scenarios and enhance cash flow, capitalizing on rising lithium demand. Noram's Zeus Project holds a resource estimate of 124 million tonnes at 1136 ppm lithium for indicated resources and 77 million tonnes at 1045 ppm lithium in inferred resources.
Noram Ventures Inc. (TSXV:NRM, OTCQB:NRVTF) announced success in its Phase V drilling program at the Zeus property. Core hole CVZ-68 yielded remarkable assay results, featuring 398 feet of lithium mineralization at an average grade of 1018 ppm Li. Notably, a section of 250 feet averaged 1151 ppm Li. The findings will contribute to an updated NI 43-101 compliant resource calculation expected soon. Noram aims to develop lithium deposits, with a current resource estimate of 124 million tonnes at 1136 ppm lithium.
Noram Ventures Inc. announced assay results from its CVZ-67 drill hole, reaching a depth of 502 feet (153 m) in the Zeus Lithium Project located in Clayton Valley, Nevada. The hole exhibited promising lithium grades, with an average of 1000 ppm Li across a significant 220-foot (67.1 m) interval. Notably, the drill hole ended with a lithium grade of 1220 ppm Li, indicating an upward trend in lithium concentration with depth. These findings are expected to positively influence future resource calculations.