BY MT Newswires
— 10:53 AM ET 10/14/2021
10:53 AM EDT, 10/14/2021 (MT Newswires) -- Niobay Metals Inc. (NBYCF) provided Thursday the first results from its metallurgical program, which is designed to achieve battery-grade niobium oxide from its James Bay project.
The company, which at last look surged 16.2% in early Thursday trading, said the first phase of testing demonstrated a 3% improvement from the company's preliminary economic assessment, reaching up to 81.3% while producing a niobium concentrate of 61.7%.
Niobay said the results reinforce the project's potential to become the best alternative low-cost source of battery-grade niobium oxide outside China.
The second phase of the metallurgical program will focus on the production of niobium battery-grade and consist of a hydrometallurgical treatment to purify the concentrate to +99% Nb2O5. Results are expected in the upcoming months.
Following the metallurgical results, the team has fast-tracked the planning for the construction of a pilot plant, which will assist in the plant conception for the upcoming pre-feasibility/feasibility studies.
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