Taseko Mines says it has made a promising finding in a rare-mineral project north of Mackenzie in Northern B.C.
The company says the results of an exploration program at the Aley project indicate a strong potential for the development of a niobium deposit and mine operation. Niobium is used mostly in alloys, the largest part in special steel used in gas pipelines.
"We are very excited by the results of the 2010 drill program," Taseko Mines president and CEO Russell Hallbauer said in a statement.
"[The results] indicate that our Aley deposit has the potential to become a significant low-cost, open-pit niobium mine."
Company officials were not immediately available for an interview on Tuesday.
However, the project is in the early stages of exploration and much work would be needed to develop the project to the mine stage.
Taseko Mines noted only three significant mines supply niobium to the global market.
One of those mines is in Quebec, which produces average grades of 0.45 per cent to 0.55 per cent, lower than the grades found in the exploration program at Aley in Northern B.C.
The Aley project is located 140 kilometres north of Mackenzie, more than 300 kilometres north of Prince George. Niobium is also used in welding, nuclear industries, electronics, optics and jewelry.
