Dec 15 2012
Noram Ventures Inc. ("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 ~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.