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Montreal, Quebec--(Newsfile Corp. - November 14, 2024) - Nio Strategic Metals Inc. (TSXV: NIO) (OTC Pink: NIOCF) ("Nio" or the "Company"), a critical and strategic metals mining exploration company, is pleased to announce that it has acquired, through staking, an additional 1,274 hectares over 22 claims adjacent to the Company's Fafnir Project (the "Fafnir Project").
The claim block, 10km north east of Nio's Fafnir Project, has 10km of contiguity to Rush Rare Earth's Boxy project, notable for Niobium assays as high as 26.9% Niobium publicly announced last April 2nd, 2024 and is directly underlayed by a structural shear zone, the likely source of the Niobium enrichment in the region, as demonstrated by the 15 lake bottom samples Niobium enrichment within a 30 km radius of the Company project.
Figure 1
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The recently purchased Fafnir Project in Quebec now covers approximately 6,230 hectares or 62 Kilometers squared and located approximately 60 km north west of Mont Laurier, and 165 km north of Gatineau and is home to some large high-grade niobium and Uranium deposits and discoveries. There is excellent access to all parts of the property that are held strategically throughout the region.
Figure 2
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"I am excited these additions The Fafnir Project presents a highly prospective opportunity for niobium mineralization based upon historical reports, especially given its close proximity to infrastructure, ease of access, and low exploration and operating costs,", said Nio President and CEO Hubert Marleau. "Our intention is to perform explorations works during next summer and assess how this property can support the decarbonization effort from the use of Niobium," he added.
"The similar geology, coupled with known mineral occurrences near the Fafnir project, represents an exciting opportunity to expand our portfolio," said Marleau.
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 Nio Strategic Metals
Nio Strategic Metals is an exploration and development company, with a focus on becoming a ferroniobium producer. The Company holds a niobium properties located in Oka and near Mont-Laurier, and Québec and other exploration property in the Province of Québec.