Emerging junior exploration company Noram Lithium Corporation announced that it has completed a strategic investment with Lithium Royalty Corp. and Waratah Capital Advisors Group.
The sale of a 1% royalty interest in the Zeus Lithium Project has fully financed the Company for the next 2-3 years and will allow the Company to continue to develop and advance its Zeus Lithium Project.
About Noram Lithium Corporation
Noram Lithium Corporation is an emerging junior exploration company based in Canada. The company’s goal is to develop from a pure exploration company to an industrial minerals company.
First and foremost, lithium deposits, but also deposits of other battery metals, are to be developed and later produced as cost-effectively as possible. The main project of Noram Lithium Corp. is the Zeus lithium project in the US state of Nevada.
The Zeus Lithium Project
The Zeus lithium project is located in Clayton Valley in the US state of Nevada. The project area covers 1133 hectares and has 363 million tonnes of lithium at 923 ppm by mass and 827 million tonnes at 884 ppm lithium, according to a 2021 resource estimate.
Nearby is Albemarle’s lithium plant, which is the only lithium plant in the United States. Lithium has been continuously extracted from deep wells there since 1967.
From 2016 to 2021, Lithium Royalty Corp. undertook 5 phases of core drilling on the project area, with a further increase in resource size in 2020.
Strategic financing for the Zeus project
It was announced today that Noram Lithium has completed a US$14 million strategic financing with Lithium Royalty Corporation and Waratah Capital Advisors Group. This is a royalty agreement for the sale of a 1% interest in the Zeus Lithium Project.
CEO Sandy MacDougall stated today that this strategic financing will fully fund Noram Lithium Corp. within the next 2 to 3 years and allow it to move forward with the Zeus project.
About Lithium Royalty Corporation
Lithium Royalty Corp (LRC) is a Canadian-based royalty company. The company was founded in 2018. Since then, LRC has already completed 17 royalty projects and is now well established in the lithium industry.
The company’s investment projects to date are located in Argentina, Brazil, the USA and Canada, as well as in Australia and Serbia.
About Waratah Capital Advisors Group
Waratah Capital Advisors Group is a Canadian asset manager that currently manages more than $3 billion worth of assets. These include assets of private individuals as well as of companies and foundations.
Waratah Capital’s activities are mainly focused on alternative strategies.