NioBay Metals provides further results from re-assaying program at James Bay Niobium Project
Press release
TSX-V: NBY
NioBay Metals provides further results from re-assaying program at James Bay Niobium
Project
Montreal, April 10, 2017 – Niobay Metals Inc. (“NioBay” or the “Company”) (TSX-V: NBY) is pleased
to provide further results of the re-assaying program of drill core from a drilling program conducted
in the 1960’s at the James Bay Niobium Project near Moosonee, in northeastern Ontario.
The re-assay results for the three holes reported below and the two holes reported on March 6,
2017 are part of a total of twelve re-logged and re-assayed historical drill holes to validate the grade
of niobium at the project . Results obtained indicate a moderate variation at sample level between
the historical assay results and the re -assays, but, as shown below, the overall grade average over
large intervals are quite similar. The results also confirms the presence of high niobium grade at the
James Bay Niobium deposit with results obtained in 2017 of 0.93% niobium oxide over 40 feet in
hole 1966-10, 0.74% over 140 feet in hole 1967-103 and 0.74% over 110 feet in hole 1967-147.
The following table shows assay results obtained in the 1960's and the NioBay 2017 re-assay results
for three holes:
1967 historical assays 2017 re-assays
Drill hole from to length Nb2O5 Nb2O5
(feet) (feet) (feet) (%) (%)
1966-10 140.0 800.0 660.0 0.44 0.41
incl. 540.0 580.0 40.0 0.85 0.93
incl. 690.0 740.0 50.0 0.66 0.65
1967-103 160.0 600.0 440.0 0.54 0.53
incl. 260.0 400.0 140.0 0.77 0.74
1967-147 350.0 610.0 260.0 0.62 0.60
incl. 370.0 480.0 110.0 0.80 0.74
The re -assays indicate a negative difference of the niobium oxide grade by an absolute value of
0.03% over 660 feet in hole 1966-10, of 0.01% over 440 feet in hole 1967-103 and of 0.02% over 260
feet in hole 1967-147.
The re -assay results for the five holes reported so far provide a high level of confidence in the
historical data. Unless the re sults from the balance of the re -assay program indicate material
difference with the historical results, the Company intends to post the balance of the results on its
website when they are completed.
Quality Control and Qualified Person
The validation program has been planned and supervised by Jacquelin Gauthier, P. Geo., P. Eng., a
senior technical advisor to the Company and a qualified person pursuant to NI 43 -101. All samples
were sent at SGS Mineral Services in Lakefield, Ontario, an ISO 17025 accredited laboratory. All
samples were first subjected to whole rock analysis for major oxides and niobium oxide by X -Ray
Fluorescence. Mr. Gauthier has reviewed and approved the scientific and technical data contained in
this press release.
Status of permitting
As reported on March 6, 2017, t he Company has applied to the Ministry of Northern Development
and Mines for an exploration permit to conduct a drilling campaign with the objective of validating
the historical data and complete a resource estimate in accordance with NI 43 -101 standards. The
Company is planning to host an information session in Moosonee mid-May to provide all relevant
information about the project, niobium and the proposed drilling program . This session will also be
an o pportunity for the Company to understand the concerns of the community, and develop
measures to prevent, mitigate or otherwise address potential effects of th e exploration and
development of the James Bay Niobium Project.
About the James Bay Niobium Project
The James Bay Niobium property is located in the district of Co chrane, 40 km south of Moosonee in
Ontario, Canada. It was discovered in 1966 with significant exploration work carried out
subsequently, including 47,625 feet of drilling over 85 holes, which established a deposit extending
to 900 feet in depth and 1 ,600 feet longitudinally. A historical estimate was finalized by Bechtel
Canada in 1967 and indicated 62 million tonnes at 0.52% Nb 2O5. Moreover, pilot plant tests
demonstrated a recovery rate of 78%, which is considered high for niobium processing.
The historical resource estimate and the historical metallurgical testing are based on data obtained
by previous operators in the 1960s. NioBay Metals has not done sufficient work to verify or classify
those historical results. Economic studies completed in the 1960s do not mean the James Bay
Niobium deposit would be found to be economic today. NioBay Metals is not treating the historical
results as a current mineral resource nor as having been verified by a qualified person.
About NioBay Metals Inc.
NioBay Metals Inc. is a mining exploration company which is actively developing the James Bay
Niobium property in Ontario, Canada. NioBay Metals also holds a 72.5% interest in Crevier Minerals
Inc., which owns a niobium / tantalum resource in Québec, Canada.
Cautionary Statement
Certain statements contained in this press release constitute forward looking information under the
provisions of Canadian securities laws. Such statements include, without limitation, the Company's
plans and objectives to conduct a drilling program and co mplete a resource estimate. Such
statements reflect the Company's views as at the date of this press release and are subject to certain
risks, uncertainties and assumptions, and undue reliance should not be placed on such statements.
Such risks include, bu t are not limited to: delays in obtaining or failure to obtain all the necessary
permits to conduct a drilling program; the uncertainty related to the historical data, historical
resources and future exploration results; the cost of exploration and develop ment programs; and
the availability of financing for additional capital requirements. Actual results may be materially
different from those currently anticipated. Many factors, known and unknown could cause the
actual results to be materially different fro m those expressed or implied by such forward looking
statements. The Company does not intend, and does not assume any obligation, to update these
forward-looking statements and information, 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) accepts responsibility for the adequacy or accuracy of this
release.
For more information, contact:
Claude Dufresne, P.Eng.
President & CEO
NioBay Metals Inc.
Tel.: 514 866-6500, Ext. 2221
Email: [email protected]
Website: www.niobaymetals.com