Update on the results of the 2023 drilling program on the
The Company completed a drilling program at the end of
Table 1: Composites of intercepted mineralization
Hole ID | from (m) | to (m) | Length (m) | Nb2O5** % | Ta2O5** % |
1532-23-001 | 5.45 | 10.30 | 4.9 | 0.28 | 0.033 |
16.00 | 25.50 | 9.5 | 0.36 | ||
16.00 | 18.00 | 2 | 0.030 | ||
18.50 | 25.50 | 7 | 0.042 | ||
30.90 | 35.00 | 4.1 | 0.33 | ||
46.25 | 54.50 | 8.25 | 0.21 | ||
46.25 | 49.25 | 3 | 0.028 | ||
55.25 | 57.00 | 1.75 | 0.31 | ||
55.25 | 58.03 | 2.78 | 0.028 | ||
93.70 | 99.50 | 5.8 | 0.039 | ||
1532-23-002 | 104.80 | 114.40 | 9.6 | 0.26 | |
104.80 | 108.30 | 3.4 | 0.037 | ||
109.50 | 112.20 | 2.7 | 0.031 | ||
118.50 | 124.35 | 5.85 | 0.26 | ||
120.35 | 124.35 | 4 | 0.033 | ||
127.90 | 132.70 | 4.8 | 0.26 | ||
149.00 | 154.93 | 5.93 | 0.30 | ||
160.00 | 161.70 | 1.70 | 0.033 | ||
163.50 | 185.00 | 21.5 | 0.035 | ||
164.50 | 176.00 | 11.5 | 0.36 | ||
164.50 | 186.40 | 21.9 | 0.31 | ||
1532-23-003 | 115.45 | 124.05 | 8.6 | 0.037 | |
116.45 | 122.40 | 5.95 | 0.21 | ||
127.50 | 130.50 | 3 | 0.024 | ||
165.00 | 168.00 | 3 | 0.024 | ||
* Best intersection according to 0.1% (1000 ppm) Nb2O5 COG (cut-off grade) as established in last 43-101 technical report
** Nb2O5 and Ta2O5 are calculated oxide equivalent based on the Nb an Ta elements lab results
Figure 1: Map of the 2023 drilling campaign
Table 2: Location of drilling collars (UTM NAD83)
Hole ID | Easting (UTM N83) | Northing (UTM N83) | Elev. (m) | Azimuth | Dip | Length (m) |
1532-23-01 | 661350 | 5481589 | 437 | 45 | -83 | 300 |
1532-23-02 | 662491 | 5480478 | 408 | 225 | -85 | 402 |
1532-23-03 | 660645 | 5482470 | 368 | 230 | -45 | 285 |
Offsetting our GHG emissions
To compensate for the 42.21 tonnes CO2e of greenhouse gas (GHG) emissions generated during the drilling campaign and the regional exploration campaign, NioBay has made a contribution to Carbone Boréal (https://carboneboreal.uqac.ca), which will compensate by planting 305 trees in the province of
A word from the President and CEO of
“We're delighted to announce these results, and in particular the intersections encountered in Hole 02, which is more than a kilometre from the main zone and, what's more, seems to demonstrate an extension of this zone," said
Following the completion of studies that indicate positive metrics for this project, the output at Crevier would be dedicated exclusively to the production of niobium oxide for battery manufacturers.
Qualified person
This press release has been reviewed and approved by Jean-Sébastien David,
About
NioBay aims to become a leader in the development of mine(s) with low carbon consumption and responsible water and wildlife management practices while prioritizing the environment, social responsibility, good governance, and the inclusion of all stakeholders. Our top priority, which is critical to our success, is the consent and full participation of the Indigenous communities in whose territories and/or ancestral lands we operate.
The Company holds, in addition to others, a 100% interest in the
About Niobium
Niobium is a naturally occurring element. It is a metal that is ductile, malleable and highly resistant to corrosion. Because it enhances properties and functionalities, niobium is used in a wide range of materials and applications in the Mobility, Structural and Energy sectors. Niobium transforms materials. When added to materials like steel, glass and aluminum castings, niobium makes them more efficient and lowers environmental impacts, while also delivering other benefits such as better performance, improved safety and increased value.
Cautionary Statement
Certain statements contained in this press release constitute forward-looking information under the provisions of Canadian securities laws including statements about the Company's plans. Such statements are necessarily based upon a number of beliefs, assumptions, and opinions of management on the date the statements are made and are subject to numerous risks and uncertainties that could cause actual results and future events to differ materially from those anticipated or projected. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors should change, except as required by law.
Neither the
FOR MORE INFORMATION, CONTACT:
NioBay Metals Inc. President & Chief Executive Officer Tel.: 514 866-6500 jsdavid@niobaymetals.com www.niobaymetals.com | Investor Relations kimberly@refinedsubstance.com 514-771-3398 |
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f6908247-2808-4741-8bff-b2d1a7671e1f
Figure 1
Map of the 2023 drilling campaign
2024 GlobeNewswire, Inc., source