CDN Maverick Reports on Successful Investment in Noram: Noram Receives Permits for Zeus Fall Phase V Drill Campaign and Commences Drilling
CSE: CDN OTCPINK: AXVEF Frankfurt: A117RU
FOR IMMEDIATE RELEASE
CDN MAVERICK REPORTS ON SUCCESSFUL INVESTMENT IN NORAM: NORAM RECEIVES PERMITS FOR ZEUS FALL PHASE V DRILL CAMPAIGN AND COMMENCES DRILLING
Vancouver, British Columbia – November 10, 2020 – CDN Maverick Capital Corp. (“Maverick” or the “Company”) (CSE: CDN; OTCPINK: US; Frankfurt: A117RU) is updaing shareholders on its 4.71% interest in Noram Ventures Inc. (“Noram”) and is pleased to announce the receipt of permits for Phase V drilling of the Zeus Lithium Project in Clayton Valley Nevada, following the successful Phase IV drill program that significantly increased the resource estimates. Phase IV drilling and earlier results were used for a new resource estimate: 124 million tonnes at 1136 ppm lithium as Indicated Resources, and 77 million tonnes
lithium at 1045 ppm lithium as Inferred Resources, for a total of 201 million tonnes at 1101 ppm lithium (900 ppm Li cut-off: 1.18 million tonnes lithium carbonate equivalent – “LCE” ; see Noram Ventures press release of February 5, 2020).
A CAT drill is onsite and currently operating. In the forthcoming days of the program, the Company intends to run with 2 drill teams, drilling 24 hours a day, until the program has been completed. All 12 holes will be drilled to an approximate depth of 120m (393ft). The lithium claystone is known to extend to 120 m (393 ft) depth across much of the property. This phase of drilling is designed to expand the existing resource and extend the mineralization to the south and east of the current resource area, which will significantly increase the area of exploration on the Property. The BLM has initially approved 7 holes, which will keep the amount of disturbed acreage under 5 acres. The required reclamation to expand this to 12 is almost completed, and the BLM will allow the expansion of the permitting to include the remaining 5 holes once finished.
Figure 1. Zeus property map showing: a) location of current Indicated and Inferred resources at >900 ppm Li cut-off; b) West-East cross-section shown in figure 2; and c) location of proposed drill holes for Fall 2020 campaign Figure 2. West-East cross-section across known mineralization within Esmeralda Formation lithium claystones, categorized by grade. Note that the terrain rises to the East, and the grade and thickness are highest in this direction.
Geologists for both Noram and Cypress believe that the deposit is part of the Clayton Valley playa lakebed that has been uplifted to surface by faulting. With that in mind, the deposit is considered to be a blanket- like layer that is 200 – 300 feet (60 – 100 meters) thick that extends across the property boundary between Noram and Cypress and has yet to be fully defined. Noram’s drilling is intended to delineate a very large area of the Zeus claims that have not been fully tested but have the lithium-rich clays exposed at or near the surface.
Following Phase V, a new resource estimate will be determined utilizing the additional data garnered from this phase of drilling. Noram expects to complete an updated NI 43-101 compliant resource estimate report by the end of Q1 2021.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., P. Geo., who is a Qualified Person with respect to Noram’s Clayton Valley Lithium Project as defined under National Instrument 43-101.
About CDN Maverick Capital Corp.
CDN Maverick Capital Corp. is a Vancouver-based junior resource company with projects in North America. CDN Maverick is focused on the development of the following mineral properties:
The Ranger Lake Gold Project consists of 1,107 hectares of prospective gold exploration in southern Quebec, Canada.
The Rainbow Canyon Gold Property consists of 417 hectares of prospective gold exploration in the Olinghouse mining district, in the Washoe County Nevada.
ON BEHALF OF THE BOARD OF DIRECTORS
“Sandy MacDougall”
Chairman & Director Phone: (604) 662-7902
This news release contains projections and forward - looking information that involve various risks and uncertainties regarding future events. Such forward - looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance of the Company. The following are important factors that could cause the Company’s actual results to differ materially from those expressed or implied by such forward looking statements; the uncertainty of future profitability; and the uncertainty of access to additional capital. These risks and uncertainties could cause actual results and the Company's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from anticipated in such information. These and all subsequent written and oral forward- looking information are based on estimates and opinions of management on the dates they are made and expressed qualified in their entirety by this notice. The Company assumes no obligation to update forward-looking information should circumstance or management’s estimates or opinions change.
Neither the Canadian Securities Exchange (“CSE”) nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.