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NioBay Metals provides initial results from re-assaying program at James Bay Niobium Project
MONTREAL, QUEBEC--(Marketwired - March 6, 2017) - Niobay Metals Inc. ("NioBay" or the "Company") (TSX VENTURE:NBY) is pleased to provide the first results of a
About this update from Niobay Metals Inc.
[{"type":"text","content":"MONTREAL, QUEBEC--(Marketwired - March 6, 2017) - Niobay Metals Inc. (\"NioBay\" or the \"Company\") (TSX VENTURE:NBY) is pleased to provide the first results of a re-assaying program to validate historical data at the James Bay Niobium Project near Moosonee, in northeastern Ontario. In the fall of 2016, a total of 12 historical drill holes were re-logged and re-assayed. The first re-assay results confirmed the high niobium grade of the core of the James Bay deposit with results obtained in 2017 of 0.79% niobium oxide over 300 feet in hole 1966-2 and 0.85% over 297 feet in hole 1967-115. The following table shows assay results obtained in the 1960's and the NioBay 2017 re-assay results for the two holes: 1967 historical assays 2017 re-assays Drill hole from to length Nb2O5 Nb2O5 (feet) (feet) (feet) (%) (%) 1966-2 117.0 915.0 798.0 0.55 0.56 incl. 333.0 915.0 581.5 0.64 0.65 incl. 333.0 695.0 361.5 0.71 0.75 incl. 395.0 695.0 300.0 0.74 0.79 1967-115 150.0 617.0 467.0 0.76 0.74 incl. 320.0 617.0 297.0 0.89 0.85 There was moderate variation at sample level between the historical assay results and the assays done this winter, but, as shown above, the overall grade average over large intervals are quite similar in the two holes. The re-assaying produced a positive difference of the niobium oxide grade by an absolute value of 0.01% over 798 feet in hole 1966-2 and a negative difference in grade of 0.02% over 467 feet in hole 1967-115. Those preliminary results indicate low or no bias in the re-assaying procedure. Definitive conclusions and a detailed statistical evaluation of the re-assaying program will be produced when NioBay has received all results of the re-assaying program. In the 1960's, composite mini bulk samples were taken from the half core left after assaying, leaving 25% of the core in the boxes. In 2016, NioBay sampled all the remaining core, less a 3-inch representative witness for every sample length. Diamond drill holes 1966-2 and 1967-115 were drilled in opposite directions on section 00, being the section close to the 1967 exploration shaft. All historical drill logs, collars survey data, historical assay certificates and vertical drill sections, with assays and geological interpretation, were recovered from the archives of James Bay Columbium Ltd, one of the original owners of the mining lease. All drill c...