HIGHLIGHTS
AuKing’s Managing Director, Mr Paul Williams, said that with the strong levels of market interest in the exploration and development of niobium/rare earth elements (REE) the Company was keen to get some exploration activities underway at the recently-acquired Myoff Creek project. The Company’s Exploration Manager (Mr Chris Bittar) has just recently returned from a visit to site with the local consultants and an initial exploration program has been established.
“Myoff Creek is situated in south-eastern British Colombia and has been the subject of exploration activities for 40 years. Previous exploration activities (including drilling programs) have identified a 1.4km by 0.4km area of near-surface Nb-REE bearing carbonatite hosted mineralization. This work was focused on the northern area of the tenure package. We intend to use that historical exploration background to carry out a combination of airborne radiometric surveys and rock chip/soil sampling across the entire tenure area over the next few months,” Mr Williams said.
Background
Niobium is a vital element used to create nanocrystalline materials, which are a new generation of advanced soft magnetic alloys that are used to control and convert electricity. By adding niobium to the alloys, the materials can have a crystal size of <10 nanometers. That means high permeability and a high heat tolerance – perfect for making miniature and lightweight materials that advanced technology is increasingly seeking.
Most of the world’s niobium (Nb) production (around 82%) derives from the largely Chinese- owned CBMM mine in Brazil. Just 8% of production comes from outside South America at IAMGOLD Corp’s Niobec mine in Quebec, Canada.
The West Arunta region of eastern Western Australian has also become the focus of a substantial amount of activity largely off the back of WA1’s major 200Mt Luni discovery which has seen that company achieve a share market capitalization of more than $1Bn.
Myoff Creek Location
The Myoff Creek Nb-REE project is located in the northern Monashee Mountains of south- eastern BC, Canada.
The nearest township is Seymour Arm which is accessed by 41km of private logging roads from Anglemont which is serviced by 53km of paved road connecting with the Trans Canada Highway, 10km east of the town Chase. Kamloops (pop. 108,000) is the major commercial centre in the region, approximately 200km away from the Myoff Creek project.
The Myoff Creek property is mountainous and locally rugged with elevations ranging from 1,250 to 1,700m above sea level. Vegetation is mostly second-growth pine forest and sub- alpine shrubbery. The climate is typical of southern BC interior mountain ranges with cold moist winters and warm dry summers. Snow falls from October to April but mostly between November and February. The community of Seymour has accommodation and logistical support and the nearest hospital is at Salmon Arm. Both Salmon Arm and Kamloops have numerous resources such as equipment and professional services for mining and exploration activities.
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