Welcome!

News Feed Item

NioCorp Updates Elk Creek Development Work

VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/05/14 -- NioCorp Developments Ltd. ("NioCorp" or the "Company") (TSX VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce the following updates on development activities concerning the Elk Creek Niobium project, located in Southeast Nebraska.

The initial five holes were cored through the overlying limestone unit and have provided valuable technical information of the ground characteristics from surface to 200 meters depth, where the carbonatite begins. The success of this coring has reduced the coring requirement for this upper 200 meter intervals, allowing for the mobilization of a third drilling rig. A reverse circulation drill operated by Envirotech Drilling has arrived on site to pre-collar the upper 30 to 200 m (100 to 650 ft) of select holes.

Drillholes NEC14-006, NEC14-007 and NEC14-008, were drilled along a North-East to South-West section line that was designed to drill across the previously defined Niobium Resource. These holes were drilled at approximately 50 m (165 ft.) intervals along the drill section line.

The collected core samples have been systematically processed and shipped for analytical and physical rock property test work to support NioCorp's corporate objectives for the project. Assay results have been received and reviewed for:

--  All NEC14-006 sample sections 
--  All NEC14-007 sample sections 
--  765 m of NEC14-008 (total depth drilled and sampled 886 m)

Analytical highlights for NEC14-007 and NEC14-008 appear below. Note that due to the angle of the drilling and other factors, these do not represent the true thickness of the Niobium Resource:

--  NEC14-007 
    --  279 m interval between 628 - 907 m (open) at 0.60 % Nb2O5, including
        --  16 m (646 - 663 m) at 0.97 % Nb2O5 
        --  23 m (720 - 744 m) at 0.93 % Nb2O5 
        --  95 m (813 - 908 m) at 0.80 % Nb2O5, open at depth
--  NEC14-008 
    --  326 m interval between 438 - 765 m (open) at 0.67 % Nb2O5 
        --  32 m (466 - 498 m) at 1.09 % Nb2O5 
            --  5 m (493 - 498 m) at 1.68 % Nb2O5
        --  9 m (553 - 563 m) at 1.00 % Nb2O5 
        --  13 m (610 - 623 m) at 1.02 % Nb2O5 
        --  25 m (740 - 765 m) at 0.85 % Nb2O5, open at depth

The Elk Creek Niobium project continues to complete Geotechnical and hydrogeological testing on all of its current drillholes. Four of the current drillholes are currently being completed as monitoring wells for longer term data collection and modelling, and the data from these installations will support recently initiated permitting efforts for the project.

"The drilling program is demonstrating and confirming the high grade nature of this resource as well as the continuity of the resource. The positive analytical results to date will allow us to meet our corporate objective of demonstrating a high grade resource for use in economic planning reports for Elk Creek. By combining the resource drilling with geotechnical and hydrogeologic testing, we are minimizing mobilization costs and field time. This type of experienced planning allows the Company to advance the project in the least amount of time possible," said Mark A. Smith, CEO of NioCorp.

In addition to the drilling program, metallurgical studies are continuing at both SGS in Lakefield, Ontario and Hazen Research in Denver, Colorado. To date, nearly 150 bench scale tests have been completed at the two labs and have included gravity concentration, magnetic separation, flotation and hydrometallurgy. The objective of this work continues to be the establishment of an economic process flowsheet for the Elk Creek resource that could be used to design and initiate a pilot plant for the project. Along with the bench test work, both labs have conducted QEMSCAN testing to determine how the Niobium is distributed. The QEMSCAN results clearly demonstrate that 75% to 80% of the Niobium is hosted in the mineral pyrochlore, with the balance of the Niobium reporting with iron-titanium oxide minerals of variable composition. This result simplifies the prospective flowsheet for the project, and allows the bench testing program to target pyrochlore recovery as the first step in the Niobium production process.

Smith further stated, "Metallurgical testing will continue with multiple screening programs being run in parallel. We are conducting the technical work required to advance the understanding of the separation of the niobium in the Elk Creek resource. The finding concerning the niobium being hosted in the mineral pyrochlore is one example of how undertaking the technical work required brings real value to the company. The team is very focused on developing an economic process flow sheet and results are very encouraging to date."

"I am pleased with the overall progress of both the drilling and metallurgical programs" noted Smith. "Based on this progress, a third drill is being added to the drilling program and additional testing scopes have been authorized at both SGS and Lakefield, in order to further accelerate the work and realize the company's objectives for the Elk Creek project."

Qualified Persons:

Brad Ulry, B.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, is responsible for the Elk Creek drilling operations and has read and approved the technical information contained in this news release.

About the Company: NioCorp are developing the only primary niobium deposit known to be under development in the U.S., and the highest grade undeveloped niobium deposit in North America, located near Elk Creek, Nebraska. The Company has published an NI 43-101 resource of 19.3 Million tonnes grading 0.67% Indicated, containing over 129,182 tonnes of Nb2O5, and 83.3 Mt grading 0.63% Inferred, containing over 523,844 tonnes of Nb2O5). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs.

ON BEHALF OF THE BOARD

Peter Dickie, Director, President and Corporate Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Certain statements contained in this press release may constitute forward-looking statements. Such forward-looking statements are based upon NioCorp's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp's plans or prospects to change include changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Contacts:
NioCorp Developments Ltd.
(604) 568-7365
(604) 568-8270 (FAX)
www.NioCorp.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Agile has finally jumped the technology shark, expanding outside the software world. Enterprises are now increasingly adopting Agile practices across their organizations in order to successfully navigate the disruptive waters that threaten to drown them. In our quest for establishing change as a core competency in our organizations, this business-centric notion of Agile is an essential component of Agile Digital Transformation. In the years since the publication of the Agile Manifesto, the conn...
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
The question before companies today is not whether to become intelligent, it’s a question of how and how fast. The key is to adopt and deploy an intelligent application strategy while simultaneously preparing to scale that intelligence. In her session at 21st Cloud Expo, Sangeeta Chakraborty, Chief Customer Officer at Ayasdi, provided a tactical framework to become a truly intelligent enterprise, including how to identify the right applications for AI, how to build a Center of Excellence to oper...
"IBM is really all in on blockchain. We take a look at sort of the history of blockchain ledger technologies. It started out with bitcoin, Ethereum, and IBM evaluated these particular blockchain technologies and found they were anonymous and permissionless and that many companies were looking for permissioned blockchain," stated René Bostic, Technical VP of the IBM Cloud Unit in North America, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventi...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
In his session at 21st Cloud Expo, James Henry, Co-CEO/CTO of Calgary Scientific Inc., introduced you to the challenges, solutions and benefits of training AI systems to solve visual problems with an emphasis on improving AIs with continuous training in the field. He explored applications in several industries and discussed technologies that allow the deployment of advanced visualization solutions to the cloud.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...