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
SYS-CON Events announced today that Enzu will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive ad...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
"We are an all-flash array storage provider but our focus has been on VM-aware storage specifically for virtualized applications," stated Dhiraj Sehgal of Tintri in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Choosing the right cloud for your workloads is a balancing act that can cost your organization time, money and aggravation - unless you get it right the first time. Economics, speed, performance, accessibility, administrative needs and security all play a vital role in dictating your approach to the cloud. Without knowing the right questions to ask, you could wind up paying for capacity you'll never need or underestimating the resources required to run your applications.
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
Adding public cloud resources to an existing application can be a daunting process. The tools that you currently use to manage the software and hardware outside the cloud aren’t always the best tools to efficiently grow into the cloud. All of the major configuration management tools have cloud orchestration plugins that can be leveraged, but there are also cloud-native tools that can dramatically improve the efficiency of managing your application lifecycle. In his session at 18th Cloud Expo, ...
Security, data privacy, reliability and regulatory compliance are critical factors when evaluating whether to move business applications from in-house client hosted environments to a cloud platform. In her session at 18th Cloud Expo, Vandana Viswanathan, Associate Director at Cognizant, In this session, will provide an orientation to the five stages required to implement a cloud hosted solution validation strategy.
The security needs of IoT environments require a strong, proven approach to maintain security, trust and privacy in their ecosystem. Assurance and protection of device identity, secure data encryption and authentication are the key security challenges organizations are trying to address when integrating IoT devices. This holds true for IoT applications in a wide range of industries, for example, healthcare, consumer devices, and manufacturing. In his session at @ThingsExpo, Lancen LaChance, vic...
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
With all the incredible momentum behind the Internet of Things (IoT) industry, it is easy to forget that not a single CEO wakes up and wonders if “my IoT is broken.” What they wonder is if they are making the right decisions to do all they can to increase revenue, decrease costs, and improve customer experience – effectively the same challenges they have always had in growing their business. The exciting thing about the IoT industry is now these decisions can be better, faster, and smarter. Now ...
"Splunk basically takes machine data and we make it usable, valuable and accessible for everyone. The way that plays in DevOps is - we need to make data-driven decisions to delivering applications," explained Andi Mann, Chief Technology Advocate at Splunk and @DevOpsSummit Conference Chair, in this SYS-CON.tv interview at @DevOpsSummit at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Security, data privacy, reliability, and regulatory compliance are critical factors when evaluating whether to move business applications from in-house, client-hosted environments to a cloud platform. Quality assurance plays a vital role in ensuring that the appropriate level of risk assessment, verification, and validation takes place to ensure business continuity during the migration to a new cloud platform.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...