The Company has recently completed its third and final drill hole of the 2022 program, totalling approximately 603 m (core not fully processed). All three (3) drill holes were completed at the Mallard Prospect as follow-up to the high-grade niobium mineralization returned from drilling in 2021 (0.82% Nb2O5 over 42.3 m, including 1.00% Nb2O5 over 17.1 m, in drill hole EC21-175) and in 2019 (0.80% Nb2O5 over 31.5 m, including 1.36% Nb2O5 over 4.5 m, in drill hole EC19-174A) - see news releases dated
Mallard is the most advanced prospect on the Property and is characterized by a series of sub-parallel, elongate, moderate to steeply dipping, northwest trending mineralized horizons that extend from surface and remain open in all directions. Pyrochlore and columbite are the dominant niobium minerals present at Mallard, with mineralogy completed to date indicating grain sizes ranging from 0.03 mm to 3 mm and commonly between 0.05 mm and 0.4 mm. Secondary commodities of interest at Mallard include tantalum, phosphate, and fluorspar.
The Company is carrying-out its program concurrently with the drill program of
The program is being managed by
NI 43-101 Disclosure
About
The Company's principal asset is the Niobium Claim Group Property, situated within the central Labrador Trough,
Contact:
President
Tel: 604.681.1568
Neither
Forward-Looking Statements
This news release contains forward-looking information which is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ from those projected in the forward-looking statements. Forward looking statements in this press release include our plans to drill at the Ashram project and expected timing, that the overlap of the two programs is expected to result in significant cost savings through shared drill rig mobilization, camp operation, and other mutual program support costs; and that there is potential for high-grade and wider widths where conditions are favourable. These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. Risks that could change or prevent these statements from coming to fruition include changing costs for mining and processing; increased capital costs; the potential inability of the Company to finance its plans; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; the availability of labour, equipment and markets for the products produced; and despite the current expected viability of the project, conditions changing such that the minerals on our property cannot be economically mined, or that the required permits to build and operate the envisaged mine cannot be obtained. The forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.
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