Noram Ventures (TSXV:NRM) will acquire 201 mineral claims comprising 3,998 acres in Nevada’s Clayton Valley.
As quoted in the press release:
The two non-contiguous claim groups (the “Li Group Claims”) are located in the same geological formation as, Rockwood’s and Lithium X’s operations. Noram will pay USD$ 100,000 for the 201 mineral claims, by way of a promissory note to the vendor and a net smelter returns royalty (NSR) of 2.5%. The definitive agreement and transfer of tenure is expected to be completed in 10 days. In addition, Noram will pay up to USD$ 90,000 to the Bureau of Land Management and the State of Nevada, with respect to fees on the claims.
Click here for the full press release.
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