Noram Lithium (TSXV:NRM; OTCQB:NRVTF; FRA:N7R) advances its flagship Zeus project, a high-grade lithium project that spans 2,800 acres, located adjacent to Albemarle’s Silver Peak Lithium Mine, with extensive infrastructure including power at site a paved highway directly to the project. It is also in the same state as Tesla’s (NASDAQ:TSLA) first Gigafactory.
A Preliminary Economic Assessment (“PEA”) on the Zeus project showed robust economics indicating a US$1.299 billion after-tax net present value (“NPV”) (8percent) with a 31 percent after-tax internal rate of return, spanning a mine life of 40 years. The existing resource has indicated resources for up to 200 years of operation.
- Noram Lithium’s flagship Zeus project has a preliminary economic assessment that indicates robust economics: a US$1.299 billion after-tax NPV (8percent), a 31percent IRR” and a mine life of 40 years.
- 100 percent owned with no underlying NSR.
- A significant mineral resource estimate at cut-off grades of 400 ppm, including a total measured and indicated resource of 1.8 million tonnes of lithium carbonate equivalent and a total inferred resource of 3.9 million tonnes of lithium carbonate equivalent.
- Zeus features a high-grade and shallow lithium deposit, which may result in a relatively low-cost operation supported by high lithium recoveries and low contamination.
- Situated near Albemarle’s Silver Peak, which is the only other US producer of lithium.
- Noram’s share structure remains tight with below 75M shares issued, with approximately 20percent controlled by management and insiders.
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