MONTREAL, April 06, 2021 (GLOBE NEWSWIRE) -- NioBay Metals Inc. (“ NioBay ” or the “ Company ”) (TSX-V: NBY) (OTCQB: NBYCF) an Environmental Sustainable Governance Indegenous (ESGI) Company is pleased to announce the beginning of a series of hydrometallurgical process testing for the production of battery grade niobium at its James Bay Niobium project located on Moose Cree First Nation traditional territory, 42 km south of Moosonee, Ontario.
NioBay has identified a number of companies, including Toshiba, QuantumScape, and other private companies, who are making use of niobium to develop revolutionary battery technologies. Niobium-based materials enable super-fast charging times (1 to 10 minutes or a charge rate of 60C to 6C), increased battery safety, long cycle life (+10,000 charge cycles) and improved Electric-Vehicle (EV) performance.
“Current EV technology is unable to compete with the performance, reliability and re-fueling times associated with Internal Combustion Engine (ICE) Vehicles; with Niobium based technologies that is no longer the case. Niobium based batteries will charge cleaner, safer, and faster than ICE Vehicles. I’m delighted to be part of the green revolution, and projects that are the seed to the change”, commented Company Chairman Serge Savard.
It is NioBay’s understanding that CBMM the world’s leading niobium producer, estimates that yearly niobium oxide demand, driven by growth in the battery market, will increase from 100 tonnes in 2020 to 45,000 tonnes by 2030.
Notable figures in the world of chemistry, including Prof. John B. Goodenough, co-inventor of the lithium-ion battery and recipient of the Nobel Prize in Chemistry, support the use of Niobium in the next generation of battery technology.
“New niobium battery technology will completely change our perceptions of electric vehicles, but the benefits of niobium are not just limited to passenger EVs”, said Claude Dufresne, President & CEO of NioBay Metals Inc.
NioBay believes that the role of niobium in future batteries will serve to complement its other advantages, including high heat resistance, strength, and weight reduction when combined with steel.
“When you combine all these advantages together, you have something special, and it is likely that we will soon see niobium batteries in commercial vehicles, Formula E racing cars, power tools, automated warehouse vehicles, and robotics. Even eVTOL flying cars are in the spot light, with niobium based technologies providing both the power and weight reduction necessary for electric aircraft to take off vertically.”
“ The development of niobium battery technology is creating a great opportunity and we are well positioned to participate in its development. The test program on James Bay Niobium ore is only the beginning, and the program could well expand to our Crevier niobium and tantalum asset in Quebec. In addition, we will continue to spend the necessary resources to measure the potential of the 6-minute EV battery charge.’’
The first series of tests will be performed by SGS Canada in Lakefield, Ontario, and first results are expected in 4 to 6 months.
About NioBay Metals Inc.
NioBay will be a leader in the Environment, Sustainability, Governance and Indigenous inclusion supporting the development of smart mine(s) with low carbon consumption and responsible water and wildlife management practices. Critical to our success will be the consent and full participation of the Indigenous communities territories where we operate. The Company holds a 100% interest in the James Bay Niobium Project located 45 km south of Moosonee, in the James Bay Lowlands in Ontario. NioBay also holds a 72.5% interest in the Crevier Niobium and Tantalum project located in Quebec and a 47% direct participation in mineral titles situated in the Chibougamau region, Quebec, under a joint venture agreement with SOQUEM.
Cautionary Statement
Certain 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.
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