Noram Ventures Inc (CVE:NRM) is to acquire 150 mineral claims across 3,000 acres of prime lithium land in Nevada’s Clayton Valley. The acquisition will make Noram the largest direct holder of lithium claims in Clayton Valley, which itself is one of the only established lithium producing areas in the USA.
The new claims are contiguous with a group of claims already under Noram’s control, and are in the same geological formation as the McGee property owned by Matica Enterprises. Matica recently revealed lithium values at McGee running at an average of 750 parts per million (ppm), with some samples running as high as 1,420 ppm.
The price for the new claims is a relatively modest US$25,000, plus Noram’s assumption of all existing financial obligations.
The company’s total landholding now comprises 17,738 acres of ground that lies contiguous to the producing Silver Peak lithium mine operated by Albemarle Corp (NYSE:ALB).
“We are very pleased with our land acquisition strategy that has nearly doubled our project footprint and significantly increases the potential and scope of our Clayton Valley, Nevada project,” said Noram’s president, Mark Ireton.