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Acquiring 100% interest in 90 mineral claims covering 4,956 hectares in the
The Project covers approximately 4,956 hectares (50 square kilometers) located approximately 60 km north west of
The Company will be evaluating and prioritizing a work program on the claims during this summer and will provide additional updates in the coming weeks.
Transaction Terms
In consideration of the acquisition of all outstanding shares in 1478472
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 strengthens Nio’s portfolio in niobium properties and is in line with our strategy to meet increasing demand for the critical minerals needed for electric vehicles, infrastructure and much needed niobium-based products perfectly fits our renewed strategy to enter the critical metals ecosystem” said Nio President and CEO
“The niobium potential of this area has started to attract our attention a long time ago. I want to thank
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Qualified Person
Pierre-Jean Lafleur, Eng., and geological consultant, is a qualified person within the meaning of National Instrument 43-101 on standards of disclosure for mineral projects. He has reviewed and approved the technical information contained in this press release.
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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