VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2012) - 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 ~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.
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