New Resource EstimateThat last cut and paste (in my last post) didn't all fit in width-wise on stockhouse message board, so here it is in summary;
Breaking News July 9, 2020: NioBay Reports a Significant Increase in Resources at James Bay Niobium
Mineral Resource at NioBay's James Bay Nb deposit:
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Indicated Resource = 29.7Mt of 0.53% Nb2O5, containing 158,000,000 kg Nb2O5.
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Inferred Resource = 33.8Mt of 0.52% Nb2O5, containing 177,000,000 kg of Nb2O5.
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Mineralization is open at depth (>330m).
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Metallurgical tests affirm an expected near-80% rate of recovery, superior to existing producers.
| "To put matters in perspective for those that do not understand Niobium; the value of the rock at NioBay's James Bay deposit is close to $200/t, that translates to an equivalent* resource of ~3.1 g Au/t with ~6,300,000 ounces of Gold." *NON 43-101 / Niobium valued at US$40/kg, $1,600/oz Au |
Observation: We are still really shallow (>330m compared to >275m now), open at depth.
Also there is still a mineralized crown pillar of 6Mt not in the resource as it is underground resource. This is a very valuable deposit considering there are no others out there like it or in a position to come to production.