In parallel to the current technical de-risking work that has been ongoing at Zeus, including optimizing the mine plan and improving the process design, the Company has been conducting a major geological review of the Project; including creating an updated geological model based on surface mapping and core re-logging.
'This review was an absolutely critical step in progressing towards our PFS. Throughout this process, we kept coming back to the significant number of drill holes that ended in high-grade mineralization. It started to form an obvious trend and begged the question - what if there was a major second layer of high-grade mineralization below the first layer This discovery would make an enormous impact on the Company, shareholder value and the production of a PFS' stated
The updated geological model and results from the planned drilling program will be used to update the Mineral Resource Estimate. The potential for a second high-grade zone below the known high-grade core is highlighted in the sections above.
Highlights of the geological review:
Identified potential for second zone of high-grade material below existing high-grade zone.
23 drill holes in high-grade core area all ended in mineralization, including1: CVZ-14: at 13 meters; 1,690 ppm Li
CVZ-33: at 28 meters; 2,380 ppm Li
CVZ-51: at 119 meters; 1,300 ppm Li
CVZ-70: at 137 meters; 1,410 ppm Li
CVZ-80: at 109 meters; 1,360 ppm Li
Developing a drill program to test the high-grade core area below existing drilling.
'The identification of a potential second layer of high-grade material lying below the existing shallow drilling at Zeus has tremendous potential to enhance the Project' stated
Based on the updated geological model, we are developing a drilling plan to test the high-grade core area at depths below the existing drilling and we expect to run a drill program at Zeus this quarter to explore this potential.'
Contact:
Email: ir@noramlithiumcorp.com
Web: www.noramlithiumcorp.com
Footnotes
Refer to the report entitled 'Updated Resource Estimate Zeus Lithium Project,
About
Cautionary Statement Regarding Forward Looking Information
This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, plans for ongoing development of the
(C) 2023 Electronic News Publishing, source