St-Georges Eco-Mining Corp. has signed an arm’s length binding term sheet with SLAM Exploration Ltd to offer SLAM the right to acquire a 51% interest in the Notre Dame Niobium Critical Mineral Project (Notre Dame Project). The Notre Dame Project is located 110 kilometers northwest of the Niobec niobium mine in Quebec, North America’s only niobium-producing mine.
- Niobium and Rare Earth Element (REE): St-Georges discovered niobium and REEs in pegmatites and carbonatites.
- Niobium and REE’s: Grab samples can include up to 2,320 ppm niobium (0.33% Nb2O5) and 3,901 ppm total REE, which includes 1,726 ppm heavy REE and 2,175 ppm light REE.
- Four anomalous areas: Four anomalous niobium and rare earth target locations have been identified for further investigation.
- Aeromagnetic signature: The occurrences of niobium and REE are all linked to a 10-kilometer-long oval-shaped aeromagnetic anomaly.
- Notre Dame Project: The project spans 6,404 hectares (64 km2) and includes 116 mineral claims.
- Infrastructure: A system of logging roads provides access to the project.
- Ready for drilling campaign: In preparation for a trenching and drilling campaign, SLAM intends to conduct more prospecting and sampling.
The Notre Dame Project is an exciting acquisition for SLAM. Several occurrences of niobium and REE’s are reported from pegmatites and carbonatites with a distinctive aeromagnetic signature. This is a key acquisition as SLAM builds up niobium, rare earth, and lithium assets in the critical element space.
Mike Taylor, President, SLAM Exploration Ltd
Niobium finds application as an alloy element in superalloys and steels. Because of its resistance to high temperatures, it is frequently used in aeronautical applications. Magnets that are superconducting are made of niobium-tin and niobium-titanium combinations. In magnetic resonance imaging (MRI) devices, these magnets are essential parts.
Niobium is used to maintain the cathode material in lithium-ion batteries and is a possible addition or alternative battery metal for usage in electric vehicles. Niobium demand is anticipated to rise in tandem with the expanding EV battery market. Niobium pentoxide is presently trading for between $48.76 and $50.15 per kilogram in US dollars, according to Metal.com.