Noram Lithium Corp. has shifted its economic assumptions and expanded the scope of its upcoming Preliminary Economic Assessment for the Zeus lithium project in Clayton Valley, Nevada, adopting a long-term lithium carbonate price of US$24,000 per tonne compared to US$9,500 per tonne in its 2021 study.

The updated study, scheduled for release by late October, will evaluate potential by-product credits from cesium, rubidium, and potash alongside lithium. This marks a structural shift from the 2021 evaluation, which assessed standalone lithium production. Global Resource Engineers is supervising ongoing metallurgical testing on project samples to determine the feasibility of recovering those additional critical minerals.

“Rather than pursuing repeated equity financings during one of the most challenging capital markets in recent history for the junior mining sector, we have focused on enhancing the technical quality of the project and maintaining a strong capital structure. Noram has engaged Global Resource Engineers (GRE) to update the Zeus Preliminary Economic Assessment (PEA). The update represents an important milestone in the evolution of Zeus.” — Sandy MacDougall, Chairman and Director

The updated PEA also incorporates revised pit optimization parameters, including a lower cut-off grade than previously utilized, together with updated mine planning and engineering criteria.

“Equally important, the updated study in progress will evaluate the contribution of additional critical minerals identified within the Zeus Project. We believe Zeus has the potential to evolve well beyond a stand-alone lithium project into a broader critical minerals development opportunity, supporting North America's domestic supply chain.” — Sandy MacDougall, Chairman and Director

Noram previously completed metallurgical testing on drill core from the Clayton Valley deposit at Kemetco Research Inc., producing a 99.2% pure lithium carbonate precipitate.

Read the full announcement: Noram Advances Updated Preliminary Economic Assessment to Reflect Current Industry Standards and Expanded Critical Minerals Potential