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Niobay Metal Intersects 1.02% nb²o⁵ over 62 Metres at James Bay Niobium
MONTREAL, April 08, 2020 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) is pleased to announce significant high-grade intersect
About this update from Niobay Metals Inc.
[{"type":"text","content":" MONTREAL, April 08, 2020 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) is pleased to announce significant high-grade intersections at the James Bay Niobium Project (the “Project”) in Northern Ontario. The Company is pleased to announce assay results for the first three drill holes (NBY-20-E1 to E3) subsequent to the completion of its drilling program. In total, the Company completed seven drill holes for a total of 3,090 metres. The results of the remaining drill holes (NBY-20-E4 to E7) are pending and will be disclosed once the results are received, compiled and verified. The Company does not believe that the COVID-19 pandemic will delay the release of the results of the remaining four holes. A surface plan showing the location of the seven holes drilled this winter is presented on Figure 1. Vertical section 200N, where the first three holes were completed, is illustrated on Figure 2. The assay results reported herein, and provided in Table 2 below, include the following highlights: HIGHLIGHTS: (see figures 1 & 2) Hole NBY-20-E1 intersected 0.69% Nb2O5 over 185 metres, including 1.02% Nb2O5 over 61.8 metres. Hole NBY-20-E2 intersected 0.66% Nb2O5 over 190 metres, including 0.97% Nb2O5 over 62.5 metres. Hole NBY-20-E3 intersected 0.58% Nb2O5 over 105 metres, including 0.80% Nb2O5 over 15.5 metres. A Mineral Resource estimate was prepared by Roscoe Postle Associates Inc. (“RPA”) on the James Bay Niobium deposit and dated October 31, 2018. TABLE 1: HIGHLIGHTS OF THE NI 43-101 MINERAL RESOURCE ESTIMATE Classification Tonnes Grade Contained Nb2O5 (Mt) (%Nb2O5) (Mkg) Indicated 26.1 0.53 123 Inferred 25.3 0.51 118 “We are more than satisfied with the initial results of the drill program. Our main objective was to extend the high-grade zone to support early cash flows and accelerated pay back of initial capital; These first sets of results definitely confirm our geological hypothesis. The length and grade of the intersections are significant, it opens up a large area at depth for future resource expansion and will inevitably increase the October 2018 NI43-101”, said Claude Dufresne, President & CEO of NioBay Metals Inc. The James Bay intrusive is simple in comparison to many other alkaline complexes in North & South America and Africa. It contains only two rock types, is low in r...