- NioBay Metals Inc. (NBY) has discovered significant extensions to the mineralized zone at the James Bay Niobium Project
- It confirmed the extension and widening of a known mineralized zone on two additional sections
- The high-grade mineralized zone dips to the north and will be tested further underground
- The drill core outlines the presence of coarse grains of pyrochlore, the niobium mineral
- NioBay Metals Inc. (NBY) is up 4.35 per cent and is trading at $0.12 per share as of 4:14 p.m. ET
NioBay Metals (NBY) has discovered significant extensions to the mineralized zone at the James Bay Niobium Project.
The company stated its planned drilling campaign of thirty holes was to alter a significant part of the inferred resources into indicated resources and verify an extension of a high-grade mineralized zone. NioBay confirmed the extension and widening of the mineralized zone on two additional sections.
“The confirmation that the mineralized zone extends at depth in the northern sector allows us to say that this deposit has not finished to surprise us… drilling will be required in this area to verify the extent of the mineralization,” Jean-Sébastien David, President and CEO of NioBay, said.
The high-grade mineralized zone dips to the north and was not intercepted by the planned holes, which were targeted at extending the indicated resources. Drilling was planned to test further underground on certain sections of the mineralized target.
NioBay stated that continuous visual observations of the drill core outline the presence of coarse grains of pyrochlore, the niobium mineral, which signifies an exceptional recovery.
“We are also pleased to confirm the presence of mineralization between previous drill holes… Remember that this campaign was stopped for reasons beyond our control and these results come from the first holes of the initially planned campaign,” David said.
NioBay Metals Inc. (NBY) is up 4.35 per cent and is trading at $0.12 per share as of 4:14 p.m. ET.
