Noram Lithium hires GRE for Zeus PEA update

Executive Summary

• Noram Lithium Corp. has contracted Global Resource Engineering (GRE) to update the Preliminary Economic Assessment (PEA) and Mineral Resource Estimate (MRE) for its Zeus project in Clayton Valley, Nevada.
• The update will incorporate the potential economic value of high-value critical mineral byproducts: rubidium (Rb), cesium (Cs), molybdenum (Mo), and potash (K), derived from metallurgical testing of existing drill core samples.
• The company highlights that integrating these byproducts is expected to substantially increase project profitability, derisk the project, and potentially increase the total tonnage of the deposit by allowing for revised cut-off grades.

Key Details

• Contractor Engagement: Noram has engaged Global Resource Engineering (GRE) to supervise metallurgical testing and update the Zeus project's MRE and PEA.
• Byproduct Focus: The study will determine the feasibility and economics of recovering rubidium, cesium, molybdenum, and potash from the lithium clays.
• Previous Technical Data (SRK Consulting, May 2024):
  • The existing MRE was based on 91 core holes spanning seven drilling campaigns (2016–2023).
  • Data included 3,407 assayed intervals.
  • Selection criteria for high-grade material: >1,000 ppm Lithium and minimum 15-foot thickness.
  • Total selected intervals: 1,267.
  • Base Lithium Carbonate Price assumption: $24,000 USD/tonne.
• Byproduct Value & Composition:
  • Rubidium: ~$3,327 USD/ounce (Shanghai Metals Market, Aug 16, 2025).
  • Cesium: ~$2,873 USD/ounce (Shanghai Metals Market, Aug 16, 2025).
  • Potash (Muriate of Potash/KCl): $358–$489 USD/tonne.
  • Average Grades in >1,000 ppm Li Claystone: 290 ppm Rubidium, 55 ppm Cesium, and >5% Potassium (K).
• Strategic Context: Chairman Sandy MacDougall cites the recent "Project Vault" announcement ($12-billion government-backed strategic critical minerals stockpile) as a catalyst for capitalizing on rising demand for these commodities.
• Project Status: The Zeus deposit is described as a gently dipping, open-pit mineable lithium clay deposit.

Notable Quotes

• Sandy MacDougall, Chairman: "Due to the significantly greater drilling density and stringent standards, the company has employed in evaluating our project, Noram boasts a much higher level of confidence in the Zeus deposit than peer lithium projects. As the only company to examine and integrate the extraction of cesium, rubidium, molybdenum and potash as valuable byproducts in our PEA, we are confident that our strategy will substantially increase the project's overall profitability while derisking the project by adding four other high-value and critical commodities as saleable products."