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The Project is comprised of 90 mineral claims covering approximately 4,956 hectares (50 square kilometers) located approximately 60km north west of
The Fafnir project, subject of pass geophysics and ground work has a large intrusive NYF (Niobium-Yttrium-Fluorine) type pegmatite which has returned 9,238 ppm for Niobium, 8,022 ppm of Uranium and 1,288 ppm of Praseodymium (Pr) / Neodymium (Nd). The Structural shear fault that truncates the property’s South Western flanc, being the likely context for enrichment, also truncates the Petawaga Indice, site of a bulk sample that revealed 3.4% Niobium, 0.7% uranium and ~1% to 1.5% Lithium, is located 30 kilometers south west of Fafnir. The Boxi project located 10 kilometers, North West of Fafnir is further evidence of the strong Rare Earth Elements enrichment in the area, having reported assays of 14% Uranium, 26% Niobium and 3,700 ppm in Pr/Nd.
“The proposed Acquisition perfectly fits our renewed strategy to enter the critical metals ecosystem. The initial indication of the Niobium and Rare earth presence was key in our decision to support the development of the Fafnir Project” said Nio President and CEO
“The population is just starting to understand the importance of niobium and its superconductivity,” said Marleau. “It’s essential for electric vehicles batteries that could revolutionize new and green technologies. We look forward to working actively with their geology team to develop these resources”.
As consideration for the SPA, the Company shall pay an aggregate of
About
For more information on the Company, please refer to the Company’s public documents available on SEDAR (www.sedarplus.ca) or on the Company’s website (https://niostratmet.com/).
For more information, please contact:
HubertMarleau
Chairman, President and Chief Executive Officer
nio.investorinformation@gmail.com
514-560-7623
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 press release.
Cautionary Statement on Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (together, “forward looking statements”) within the meaning of applicable Canadian securities laws. Statements, other than statements of historical facts, may be forward-looking statements. Generally, forward-looking statements can be identified by the use of terminology such as “plans”, “expects”, “estimates”, “intends”, “anticipates”, “believes” or variations of such words, or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will be taken”, “occur” or “be achieved”, the negative of these terms and similar terminology although not all forward-looking statement contains these terms and phrases. Forward-looking statements involve risks, uncertainties and other factors that could cause actual results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to, the risk factors set out in Nio Strategic Metals’ annual and/or quarterly management discussion and analysis and in other of its public disclosure documents filed on SEDAR atwww.sedarplus.ca,as well as all assumptions regarding the foregoing. Although
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