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NioBay Metals Inc.
Summary
| Project: | James Bay | |
|---|---|---|
| Deposit: | James Bay | |
| Location: | Canada | |
| Commodities: | Niobium | |
| Date: | 3/6/2017 | |
| Report Code: | NI43-101 | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 6-3-2017: NioBay Metals Inc. announces an Exploration/Drilling Update report for its James Bay deposit at the James Bay project. Re-assays on historical data results incl. 243.2m @ 0.56% Nb2O5. Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) i | |
| Resources: | (historic estimate only) | |
| CP/QP: | [Overall Report]: Jacquelin Gauthier (Internal) | |
| ABSTRACT: | Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: 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. 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 reassaying 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. | |
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