Noram Ventures (TSXV: NRM) announced that it is planning a drill campaign for Q3-Q4 2020 and a preliminary economic assessment on its Zeus lithium claystone property in Nevada.
According to the miner, the decision to continue working on the project is based on the fact that over the past three years there has been increased interest in lithium claystone deposits in the Clayton Valley, near Albemarle’s Silver Peak lithium brine operation which remains North America’s only lithium producer.
Noram believes there is increased interest in lithium claystone deposits in the Clayton Valley
“Continued exploration and development of large lithium claystone deposits reveal that lithium is recoverable in low pH solutions,” C. Tucker Barrie, president and CEO of Noram Ventures, said in a media statement. “The demand for lithium is growing significantly due to the rapid expansion of the electric vehicle market. Furthermore, the United States government is proactive in promoting and developing critical metals within the USA, including lithium. This means that there is strong support for developing projects like Zeus.”
The Zeus deposit has, at a base case 900 ppm lithium cut-off, 124 million tonnes at 1136 ppm lithium as indicated resources, and 77 million tonnes lithium at 1045 ppm lithium as inferred resources.
Noram has reported that there are over two square kilometres of fertile ground yet to be drill-tested on the property.