Niobay Metals Inc. (NBYCF)

[roberttatge]

NOFIRST ENERGY METALS DRILLS TWO INTERCEPTS OF 1.76 AND 1.18 PERCENT LITHIUM OXIDE OVER 5.6- AND 6.12-METERS IN DRIL HOLE LC21-29 AT AUGUSTUS LITHIUM PROPERTY



Vancouver, B.C. (November 4, 2021) -- InvestorsHub NewsWire -- First Energy Metals Ltd. (CSE: FE) ("First Energy" or the "Company) is pleased to announce results of drill hole LC21-29 at its Augustus Lithium Property in Quebec, Canada. The drill hole intercepted two lithium pegmatites where the top intercept is 1.18 percent (%) lithium oxide (Li2O) over 6.12 metres at 148.48 metres (m) drilled depth, and the lower intercept is 1.76% Li2O over 5.6 metres at 158.4 metres drilled depth. Bothe mineralized intercepts are only 4.2 meters apart from each other. There are anomalous values of other rare metals including niobium (Nb), rubidium (Rb), tantalum (Ta), beryllium (Be), and cesium (Cs) (see Table 1 for details).



Highlights


Upper Intercept (Total 6.12 m from 148.48m to 154.6m)



Lithium oxide values are in the range of 0.65% to 2.41% Li2O with an average of 1.18% Li2O over 6.12 m.

Beryllium is in the range of 87 parts per million (ppm) to 204 ppm.

Cesium is in the range of 29 ppm to 94 ppm.

Niobium is in the range of 75.4 ppm to 143.7 ppm.

Rubidium is in the range of 354 ppm to 1,820 ppm.

Tantalum is in the range of 49.6 ppm to 110 ppm.

Lower Intercept (Total 5.6 m from 158.4m to 164 m)



Lithium oxide values are in the range of 0.23% to 2.80% Li2O with an average of 1.76% Li2O over 5.6 m.

Beryllium is in the range of 151 ppm to 441 ppm.

Cesium is in the range of 30.8 ppm to 69.2 ppm.

Niobium is in the range of 72.1 ppm to 101.5 ppm.

Rubidium is in the range of 127 ppm to 1,430 ppm.

Tantalum is in the range of 68.8 ppm to 100 ppm.



Drill hole LC21-29 was drilled at location: 287182.82E, 5367943.92N (NAD 1983 UTM Zone 18N), Azimuth 205.35 degrees, Dip -50.4 degrees with a total drilled depth of 291m. All intersections reported are based on drilled width and have not been converted to the true width.



The drill program was based on the historical exploration data and the Company's surface trenching and sampling program. Several historical drill hole collars were also located on the Property which helped in location and orientation of drill holes for the current program. The drilling work was contracted to Forage Hebert Inc. Drilling of Amos, Quebec. A B-20 drill rig was deployed which has a capacity to drill up to 1,000-meter-deep hole. A total of 32 NQ size diamond drill holes were completed on the Property with a cumulative drilling of 5,847.15 metres. A core shack was built at the village of St-Dominique du Rosaire located about 50km from the Property for drill core logging, sample preparation and storage. The drill core was logged and sampled at the core shack using a rock saw. For quality control and quality assurance (QA/QC), field duplicates, standards and blanks were inserted at industry standard intervals.

The samples were bagged and tagged using best practices and were delivered to Activation Laboratories ("ACTLABS"), Ancaster, Ontario for sample preparation and analyses using laboratories code Ultratrace 7 and sodium peroxide fusion (Na2O2) as summarized below. ACTLABS is an independent commercial, accredited ISO Certified Laboratory.



Code Ultratrace 7 – Peroxide Fusion – ICP and ICP/MS

Samples are fused with sodium peroxide in a Zirconium crucible. The fused sample is acidified with concentrated nitric and hydrochloric acids. The resulting solutions are diluted and then measured by ICP-OES and ICP-MS. All metals are solubilized.



ICP-MS

Fused samples are diluted and analyzed by Agilent 7900 ICP-MS. Calibration is performed using five synthetic calibration standards. A set of (10-20) fused certified reference material is run with every batch of samples for calibration and quality control. Fused duplicates are run every 10 samples.



ICP-OES

Samples are analyzed with a minimum of 10 certified reference materials for the required analytes, all prepared by sodium peroxide fusion. Every 10th sample is prepared and analyzed in duplicate; a blank is prepared every 30 samples and analyzed. Samples are analyzed using a Varian 735ES ICP and internal standards are used as part of the standard operating procedure. Source: https://actlabs.com/geochemistry/lithogeochemistry-and-whole-rock-analysis/peroxide-total-fusion/



Afzaal Pirzada, P.Geo., Geological Consultant of the Company, and a "Qualified Person" for the purposes of National Instrument 43-101 - Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical information contained in this news release.



About the Augustus Lithium Property



The Company owns 100% interest in Augustus Lithium Property in Landrienne & Lacorne-Townships, Quebec, Canada. The Property consists of 271 mining claims covering a total area of 14,155 hectares located approximately 40 kilometres northwest of the town of Val d'Or on map sheets 32C/05 and 32D08. The Property claims are spread in several claim blocks optioned in 2021 from different vendors. The Company has prepared a well thought out work plan on the property which includes diamond drilling, metallurgical testwork to produce battery grade lithium carbonate, and resource estimation. To date, the Company has compiled historical drill hole data on the Property for 74 historical dill holes with a cumulative drilling of 12,123.14 m, out which 6,024 m drilling was completed on the Property during 1950s. Several drill hole results indicated intersections over 1% lithium oxide.".



About First Energy Metals Limited.



First Energy Metals is a Canadian mineral exploration company with a primary focus of acquiring a multicommodity mineral property portfolio. Its goal is to identify, acquire and explore North American mineral prospects in the technology metals, precious metal, and base metal sector.



The company's strategy is to:

Acquire and advance projects through prospecting and early-stage exploration;
Source joint venture partners to finance future exploration and project development;
Create shareholder value through exploration success.


First Energy will continue to add to its multicommodity portfolio through organic acquisitions of new projects and opportunities with the intention of adding value and projects over time.



ON BEHALF OF THE BOARD OF

FIRST ENERGY METALS LTD.



"Gurminder Sangha"

Gurminder Sangha

President & Chief Executive Officer

For further information, please contact the Company at: [e-mail] or [phone]



Neither the Canadian Securities Exchange (CSE) nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release and has neither approved nor disapproved the contents of this news release.

Forward-looking Information



Except for the statements of historical fact, this news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates and projections as at the date of this news release. "Forward-looking information" in this news release includes information about the Company's information concerning the intentions, plans and future actions of the parties to the transactions described herein and the terms thereon.



The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in thiV 4-2021