Noram Ventures Confirms Wide-Spread, Surface Graphite Mineralization on Jumbo Property in British Columbia
December 14 2012 - 08:30AM
Marketwired
Noram Ventures Inc. (TSX VENTURE:NRM) ("Noram" or the "Company") is
pleased to report that analytical results from rock grab samples
confirm the SkyTEM airborne survey EM targets (See: Figure 1) host
graphite mineralization on the Company's Nakusp flake-graphite
property (hereinafter called the "Jumbo Property") located in the
Central Kootenay region of Southeastern British Columbia ("BC").
The Jumbo Property is a new discovery that consists of three
contiguous claim blocks (the Black Fly, Mosquito, and Fisher) that
are now grouped together to create one large 14,435 hectare
property (See: Figure 2).
Geophysical interpretations concluded that the SkyTEM survey
defined a pattern of EM conductors that coincide with locations of
graphitic rock previously observed on the Jumbo Property. Follow-up
geological mapping and surface sampling was carried out to further
ground truth the EM conductors. Graphite mineralization was located
at every anomalous site visited (See: Figure 3). A total of 81
bedrock and float rock samples were collected and analytical
results returned grades of 0.03 to 7.37% carbon graphite ("C/GRA")
with average grades per area as follows:
-- 7 samples from the Mosquito area averaged 1.43% C/GRA;
-- 17 samples from the Black Fly area averaged 2.54% C/GRA; and
-- 57 samples from the Fisher area averaged 1.96% C/GRA.
Acme Analytical Laboratories Ltd., a fully certified laboratory
based in Vancouver, B.C., conducted the sample preparation and
analytical work, which included crushing and pulverizing a 250 gram
split of the rock samples to 200 mesh. The graphite content was
determined by igniting a 0.1 gram aliquot of the sample to 600
degrees Centigrade to burn off free carbon and leaching in HCL to
dissolve all carbonate rock. The residue carbon content, which is
pure graphite, was determined by a standard Leco process.
While rock grab samples are selective and may not be
representative of the mineralized zone being sampled, the mapping
and sampling program does indicate that graphitic zones of
mineralization extend over a strike length of 15km on the Jumbo
Property (See: Figure 4). The continuity of mineralization over
this strike length has yet to be established.
Further interpretation of the work completed to date will
determine the initial drill targets for 2013.
Noram has an option to earn a 100% interest in the Property,
which covers an area of 14,435 hectares and is located in the
Slocan Mining Division approx. 15 km southwest of the town of
Nakusp, BC on the west side of Upper Arrow Lake.
Graphite is an industrial mineral, and ease of access and ease
of extraction are just as important parameters as grade for
determining economic viability of a mineral deposit. A network of
logging roads crisscross the Property and a secondary road connects
the property to BC Hwy 6, located 20km to the south. Power and
water for any industrial endeavour are readily available. A labour
force with mining experience is well established in most towns and
cities throughout the Nakusp-Arrow Lakes region, which has a rich
history of mining that dates back to the 1860s.
John R. Kerr, P.Eng. and Qualified Person as defined in NI
43-101, has reviewed and verified the technical content of this
news release on behalf of the Company.
About Noram Ventures Inc.:
Noram Ventures Inc. (TSX VENTURE:NRM) is a Canadian based
mineral exploration company with a project generator business
model. The Company's strategy is to identify and acquire
early-stage properties that offer large-scale resource potential,
and create value through the initial drilling and discovery phase.
Noram's current focus is on three properties in the Central
Kootenay region of Southeastern British Columbia. For further
information, please visit www.noramventures.com.
ON BEHALF OF THE BOARD OF DIRECTORS
David W. Rees, President & Director
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain statements in this release are forward-looking
statements, which reflect the expectations of management regarding
exploration work on the properties and the completion of the
Offering. Forward-looking statements consist of statements that are
not purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future. Such
statements are subject to risks and uncertainties that may cause
actual results, performance or developments to differ materially
from those contained in the statements. No assurance can be given
that any of the events anticipated by the forward-looking
statements will occur or, if they do occur, what benefits the
Company will obtain from them. These forward-looking statements
reflect management's current views and are based on certain
expectations, estimates and assumptions which may prove to be
incorrect. A number of risks and uncertainties could cause our
actual results to differ materially from those expressed or implied
by the forward-looking statements, including: (1) a downturn in
general economic conditions in North America and internationally,
(2) the inherent uncertainties and speculative nature associated
with mineral exploration, (3) a decreased demand for minerals, (4)
any number of events or causes which may delay or cease exploration
and development of the Company's property interests, (5) the risk
that the Company does not execute its business plan, (6) inability
to finance operations and growth, and (7) other factors beyond the
Company's control. These forward-looking statements are made as of
the date of this news release and, except as required by law, the
Company assumes no obligation to update these forward-looking
statements, or to update the reasons why actual results differed
from those projected in the forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE, NOR ITS REGULATION SERVICES
PROVIDER (AS THAT TERM IS DEFINED UNDER THE POLICIES OF THE
EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF
THIS NEWS RELEASE.
Contacts: Lytle & Associates Greg Lytle Corporate
Communications (604) 839-6946info@noramventures.com