Drill Results
NioBay Announces the Commencement of Summer Field Programs Across Its Projects
Niobay begins summer drilling at its tantalum project as prices surge, despite ongoing dilution and community challenges.
Executive Summary
- NioBay Metals announced the commencement of its 2026 summer field programs on June 23, 2026.
- The company plans a minimum of 5,000 meters of drilling on the Crevier Property in Québec, targeting three objectives: connecting the 2023 northern tantalum-rich discovery to the Main Zone, upgrading the 2025 southern discovery to Measured status, and testing the depth extent of the Main Zone.
- Concurrently, inspection and geophysical surveys are underway on the James Bay Niobium Project in Ontario, with an airborne survey planned to update the geophysical model.
- This announcement follows a clear progression of technical milestones: a February 2026 resource estimate that established 16.3 Mt of Measured resources, and an April 2026 metallurgical update demonstrating high recoveries (70% Nb2O5 recovery, 92.3% Nb extraction, 95.8% Ta extraction) and valuable zirconium by-product potential.
- The campaign is supported by local Indigenous contractors (Mashteuiatsh First Nations Drilling) and leverages a favorable macro backdrop, with tantalum oxide prices having more than doubled since 2021.
Material Impact
- The June 23, 2026 release is a routine exploration update that aligns with previously communicated field plans and the February 2026 resource estimate.
- It does not contain new, unexpected, or market-moving information. The drilling targets and geophysical work are direct follow-ups to the technical data released in Q1 2026.
- While the metallurgical results from April 2026 materially advanced the project's economic case, the current announcement merely confirms the execution of the next logical step in the exploration cycle.
- The market has already priced in the financing (December 2025) and the resource update (February 2026). This update is expected, incremental, and serves to maintain operational momentum rather than shift valuation.
NBY · Price
Company Overview
- NioBay Metals is a Canadian critical minerals explorer focused on niobium and tantalum, commodities essential for steel, EVs, aerospace, and electronics.
- Flagship Project: Crevier Nb-Ta Project (Québec). The company holds a 72.5% interest. The project has transitioned from exploration to resource definition and metallurgical testing, with a focus on niobium oxide production for battery and superalloy markets.
- Secondary Project: James Bay Niobium Project (Ontario). The company holds a 100% interest. The project has received a renewed three-year exploration permit, with drilling suspended since March 2022 pending community resolution.
- The company is collaborating with universities (e.g., University of Waterloo) on downstream applications like niobium-based bipolar plates for PEM fuel cells.
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Apr 08, 2026 · 10:15