NioBay Metals Intercepts Up to 22% Titanium (TiO₂) in its Drillings on Zone 1 of the Foothills Property
The Company had filed an application for authorization for impact projects with the Ministry of Natural Resources with the aim of carrying out a drilling campaign as soon as authorization is received. Below, the Company provides the results of the TiO2 mineralized zones of interest, from the fall 2024 exploration campaign.
The Foothills project is located north of Saint-Urbain, 100 km north of Québec City and 90 km south of Saguenay (La Baie region), Québec. The project covers an approximate area of 285 km2 and includes five separate claim blocks. It covers most of the contact of the intrusive zone known as the Saint-Urbain anorthosite.
It should be noted that the drilling work generated 32.14 tonnes of CO2 equivalents. A donation was granted to Carbone Boreal (Université du Québec à Chicoutimi) as compensation.
Table of ResultsIntersections calculated for a cut-off grade of 8% Ti, a minimum length of 1 m and a maximum internal dilution of 1 m.
Drill Hole
From (m)
To (m)
Length (m)
Dilution (m)
TiO2 (%)
1625-24-002
89.75
153.00
63.25
1.00
10.57
1625-24-002
185.00
186.80
1.80
0.00
17.09
1625-24-002
220.80
226.55
5.75
0.00
22.36
1625-24-003
135.25
149.00
13.75
0.00
12.62
1625-24-003
151.00
156.00
5.00
0.50
19.13
1625-24-003
172.30
180.00
7.70
0.00
14.44
1625-24-004
154.10
158.40
4.30
0.00
14.73
1625-24-006
16.50
18.80
2.30
0.00
9.22
1625-24-006
25.00
30.45
5.45
0.70
11.76
1625-24-006
37.00
38.00
1.00
0.00
8.01
1625-24-006
48.00
49.00
1.00
0.00
14.60
1625-24-007
44.20
47.00
2.80
0.00
11.14
1625-24-007
49.00
62.65
13.65
0.00
10.56
June 2024 prospecting area and sample locations Map 2: Location of Drill SitesMessage from the President'We are finally able to present our results from Zone 1. We were pleasantly surprised by the grade in certain holes. The next step will be to drill on a section of Zone 3. The application for authorization for this zone have been filed. Remember that sector 3 has demonstrated very good surface values in titanium (Press release of August 7, 2024)', concluded Mr. David.
PDAC 2025NioBay will be at PDAC again this year from March 2nd to the 5th inclusively, at the Toronto Convention Centre. Come meet us at booth 3015.
Qualified PersonsThis press release has been reviewed and approved by Mr. Mikael Block, P.Geo., a Qualified Person under National Instrument 43-101. Mr. Block is a Project Manager employed by IOS Services Géoscientifiques.
About NioBay Metals Inc.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 on ancestral lands we operate.
In addition to others properties, NioBay holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the Moose Cree Traditional Territory of the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Québec and on the Nitassinan territory of the Pekuakamiulnuatsh First Nation. The Company has also the option to acquire an 80% interest in the Foothills project, a titanium-phosphate project located near the former St-Urbain mine site in Quebec.
About Titanium Titanium (Ti) is as strong as steel, but much less dense. It is therefore important as an alloying agent with many metals, including aluminum, molybdenum and iron. These alloys are mainly used in aircraft and spacecraft because of their low density and ability to withstand extreme temperatures. They are also used in sports equipment, laptops, bicycles and medical prostheses. Recently, this metal has been used in some battery components.
Cautionary StatementCertain 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 TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
FOR MORE INFORMATION, CONTACT:
NioBay Metals Inc.Jean-Sébastien David, P.Geo., MPMPresident & CEOjsdavid@niobaymetals.com www.niobaymetals.com
Kimberly Darlington Investor Relations kimberly@refinedsubstance.comTel: 514-771-3398
Photos accompanying this announcement are available athttps://www.globenewswire.com/NewsRoom/AttachmentNg/29b6747d-ce60-40ad-b263-edd85dcc6921https://www.globenewswire.com/NewsRoom/AttachmentNg/79550acc-c4ce-4e20-ae0d-13463ccafa16Sign in to access your portfolio
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