James Bay Project
Niobay Metals Inc. 100 %,
The James Bay property is located east of the Township of Carroll in the district of Cochrane, 45 km south of Moosonee, in the James Bay Lowlands in the Province of Ontario, Canada .
The property comprises the Crown Mining Lease and covers a total of 2,530 hectares.
The James Bay property was discovered in 1966 by Consolidated Morrison Explorations. Major exploration work carried out in 1968 and 1969, including about 48,000 feet of drilling in 85 holes established a deposit extending to 900 feet in depth and 1600 feet longitudinally. Lakefield Research carried out metallurgical tests in 1969, allowing for the development of a possible flow sheet for the niobium ore, with a view to the production of a concentrate grade of about 65% pyrochlore (Nb2O5).
A historical feasibility study was completed by the firm Canadian Bechtel Ltd. at the end of 1969, and updated by the same firm in 1979.
A number of studies dealing with specific aspects of the project were carried out between 1969 and 1979 by independent firms or companies for evaluation purposes, with a view to possible partnerships or acquisitions. At that time niobium price was a fraction of where it is today.
In June 2016, Niobay Metals Inc. acquired 100% of the property from Barrick Gold Inc., James Bay Columbium Ltd. and Goldcorp Inc.
Geology and Mineralization
Polychlore mineralization is contained in an intrusive complex of pyroxene-rich carbonatites dating from the Huronian Orogen, and generally orientated north south. Intrusions of hornblende gneiss abut the complex on its east and west sides. The general dip is sub-vertical, orientated slightly to the east.
Palaeozoic sediments consisting of altered, silty, sandy, argillaceous sandstones discordantly cover the carbonatite complex. These sandstones vary in thickness from 40 to 100 feet, and lie horizontally over the carbonatites, covering them completely. Unconsolidated silty glacial sediments between 20 and 30 feet deep cover these sandstones, and are themselves covered by spongy peat (muskeg) 3 to 6 feet deep.
A historical estimate was finalized by Dr. P. Price of Canadian Bechtel Ltd in 1967 and indicated 62 million tonnes at 0.52% Nb2O5. Moreover, an exploration shaft was sunk and a 225 tonne bulk sample was extracted to subsequently be used in a pilot plant which demonstrated a recovery rate of 78%, which is considered high for niobium processing.
The historical resources estimate, the historical feasibility and the historical metallurgical testing are based on data obtained by previous operators in the 1960s. Niobay Metals has not yet undertaken the work necessary 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.