NiobiumX Mining (CSE:NIOX) has commenced trading on the Canadian Securities Exchange under its new ticker symbol ‘NIOX’ following its transition from lithium to niobium and rare earth element exploration.
The company, formerly Arctic Fox Lithium, began trading on 17 July following its strategic repositioning to focus on the Shipshaw Property in Québec, Canada. Shares also trade on the OTCQB Venture Market (OTCQB:AFXLF) and the Frankfurt Stock Exchange (FRA:O5K).
The 48-claim, 2,686-hectare Shipshaw Property sits in the Saint-Honore carbonatite district, located less than 2km from North America’s only operating niobium producer, the Niobec mine. NiobiumX acquired the property under an asset purchase agreement that closed on 19 February.
The property does not currently host a mineral resource or mineral reserve estimate.
CEO Kirby Renton says the new name reflects where the company is now putting its capital.
“Shipshaw sits in one of very few districts in North America with a demonstrated niobium endowment, next to the only producing niobium mine on the continent,” Renton.
NiobiumX’s near-term priority involves conducting modern geophysics over ground that has not been surveyed in 15 years.
The company plans to provide detailed overviews of the property and exploration program in forthcoming releases.
NiobiumX Mining is a Canadian mineral explorer focused on niobium and rare earth elements.
Write to Paula Fabe at Mining.com.au
Images: Mining.com.au
