MONTREAL, Aug. 23, 2022 (GLOBE NEWSWIRE) — NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) (OTCQB: NBYCF) is pleased to announce the commencement of its overburden drilling program. think. Test the arable and bedrock properties of the East Gouin property, optionally provided by Tectonic Resources Inc. (See press release dated May 10, 2021). This campaign follows promising findings reaching 0.29%, 0.31%, 0.54%, 0.57% Nb.2〇Five A glacial block containing carbonate veins. Sampling to the surface also revealed several niobium geochemical anomalies, mainly in the southern part of the site. These boulders and anomalous zones were detected around large magnetic anomalies similar in size and structure to the Niobec mine in Saguenay, the only commercial niobium operation outside Brazil.
The East Gouin property is located approximately 190 km west of the Niobec mine, 150 km south of Chibougamau and just east of the Gouin Reservoir Dam. It is located in the territory of the Opithiwan Atikamek First Nation, the main Obediwan community, which lies about 65 km northwest of the northern bank of the Gwynn Reservoir. All parts of the property are easily accessible via an extensive logging road network 75 km east of US 167. High voltage power lines run only 20 km south of the property.
The program uses ultrasonic drilling technology to sample the entire overburden without disturbing loose sediment and recover rock core samples of approximately 1-2 meters. The 30-hole program will detect potential niobium dispersion trains up to the ice surface of surface anomalies and identify/analyze bedrock without rock outcrops within magnetic anomalies. Two attached maps (see Figures 1 and 2) show the location of the sonic hole in the background of recent satellite images and in the view of a full-field magnetic survey.
“Being able to exercise our option on this asset, which has so far shown the likely presence of niobium, is an excellent opportunity to justify the current work programme. Also, it couldn’t have been better in terms of access. The campaign will continue until mid-September, and depending on the results obtained, a diamond drilling campaign may be planned.said Jean-Sébastien David, President and CEO.
Figure 1: Satellite image with drill hole locations
Figure 2: Location of drill holes by magnetic survey
This press release was reviewed and approved by Jacquelin Gauthier of P.Geo. Qualified under NI 43-101. Mr. Gauthier is Vice President of Geology at NioBay Metals Inc.
About NioBay Metals Inc.
NioBay is a company focused on the exploration, development and use of critical green metals with a focus on the environment, sustainability, governance and indigenous peoples (ESGI).
The company owns a 100% interest in the James Bay Niobium Project, located 45 km south of Musoney in the MCFN Traditional Territory of the James Bay Lowlands, Ontario. NioBay also holds his 72.5% interest in the Crevier niobium and tantalum project located in the Nitasinan area of Quebec and Pequacamille Nuash First Nation.
Niobium is a natural element. It is a soft metal that is readily available, reliable, ductile, malleable, and corrosion resistant. Niobium is used in a wide range of materials and applications in the mobility, structural and energy sectors to enhance its properties and functionality. Niobium convert material. Adding niobium to materials such as steel, glass and aluminum castings not only makes the material smarter and less impactful on the environment, but also offers other benefits such as improved performance, increased safety, and increased value. is also brought.
Certain statements contained in this press release, including statements regarding our plans, constitute forward-looking information under the terms of Canadian securities laws. Such statements are necessarily based on a number of management’s beliefs, assumptions and opinions as of the date the statements are made and actual results and future events may not materially differ from those anticipated or projected. Subject to a number of potentially different risks and uncertainties. We undertake no obligation to update these forward-looking statements if management’s beliefs, estimates, opinions or other factors change, except as required by law.
Neither TSX Venture Exchange nor its regulated service providers (as those terms are defined in the TSX Venture Exchange Policy) are responsible for the adequacy or accuracy of this release.
Niobe Metals Co., Ltd.
Jean Sebastian David, Gio.
President and CEO
Phone: 514 866-6500
NioBay Metals will begin a topsoil and rock excavation program at the Canadian Business Journal property in East Gouin, Quebec.
Source link NioBay Metals will begin a topsoil and rock excavation program at the Canadian Business Journal property in East Gouin, Quebec.