Noram Ventures Inc. (TSX-Venture:NRM) had soaring news to shares with small-cap investors on Wednesday.
The Vancouver-based Noram revealed results for three of six drill holes completed during the November 2019 Phase IV drill program on the Zeus lithium claystone property.
The Zeus property is located in Clayton Valley, Nevada, immediately adjacent and to the east of Albemarle's Silver Peak lithium brine operations, currently North America's only lithium producer.
The lithium deposit is within the non-refractory claystones of the Esmeralda Formation, and has access to power, groundwater and a capable work force. Nevada is recognized as one of the most favorable jurisdictions for mineral extraction globally.
The company maintains goal of developing lithium deposits and becoming a low-cost supplier. The Company's primary business focus since formation has been the exploration of mineral projects.
Shares in Noram galloped 1.5 cents, or 21.4%, to 8.5 cents, on volume of 39,000 shares.