Process Demonstrated Potential Significant Improvements in
Project Energy Efficiency
CENTENNIAL, Colo., Aug. 9, 2021 /PRNewswire/ -- NioCorp
Developments Ltd. ("NioCorp" or the
"Company") (TSX:NB)
(OTCQX:NIOBF) is pleased to announce the
completion of the first phase of testing of Elk Creek Project
("Project") ore samples using High-Pressure Grinding Rolls ("HPGR")
technology. Testing confirmed that the ore that NioCorp
expects to mine from the Project site, subject to receipt of
necessary funding, can be successfully processed using HPGR
technology, an energy efficient and low-emission alternative for
reducing the size of the ore to enable the recovery of niobium,
scandium, titanium, and potential rare earth products.
The testing was conducted at the Natural Resources Research
Institute ("NRRI") of the University of
Minnesota-Duluth, in partnership with Weir
Minerals.
Approximately one tonne of Elk
Creek drill core was reduced to the one-millimeter size
needed for hydrometallurgical testwork. The test program found that
the specific energy per tonne of feed processed could be reduced
from the previously estimated 4.18 kilowatt-hour ("kWh") per tonne
to 3.06 kWh per tonne. That represents a 32.5% decrease in
the amount of installed power needed for processing, when compared
to the previous design basis.
NRRI is currently completing Phase II of the test program, which
will provide three tonnes of crushed material suitable for
hydrometallurgical testing, which includes optimization of the
existing flowsheet and continuation of rare earth recovery test
work.
"The results of this testing were very impressive," said
Scott Honan, Chief Operating Officer
of NioCorp. "This program confirmed that our ore is amenable
to HPGR technology, and we are pleased to see the reduction in
energy consumption. We look forward to announcing the results
of the follow-on work that the material produced at NRRI will
facilitate."
Qualified Persons: Scott
Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a
Qualified Person as defined by National Instrument 43-101, has
reviewed and approved the technical information contained in the
news release.
@NioCorp $NB $NIOBF #ElkCreek #Niobium #Scandium #Nebraska
#HPGR
For More Information:
Contact Jim Sims, VP of External
Affairs, NioCorp Developments Ltd., 720-639-4650,
jim.sims@niocorp.com
About NioCorp
NioCorp is developing a superalloy materials project in
Southeast Nebraska that will
produce Niobium, Scandium, and Titanium. Also under consideration
by the Company is the production of several magnetic rare earth
products. Niobium is used to produce superalloys as well as
High Strength, Low Alloy ("HSLA") steel, which is a lighter,
stronger steel used in automotive, structural, and pipeline
applications. Scandium is a superalloy material that can be
combined with Aluminum to make alloys with increased strength and
improved corrosion resistance. Scandium is also a critical
component of advanced solid oxide fuel cells. Titanium is used in
various superalloys and is a key component of pigments used in
paper, paint and plastics and is also used for aerospace
applications, armor, and medical implants. Magnetic rare
earths, such as Neodymium, Praseodymium, Terbium, and Dysprosium
are critical to the making of Neodymium-Iron-Boron ("NdFeB")
magnets, which are used across a wide variety of defense and
civilian applications.
Forward-Looking Statements Disclaimers
Certain statements contained in this news release may constitute
forward-looking statements, including statements regarding the
Company's expectations that the Project will reach production stage
if the Company is able to secure project financing and that its
HPGR testing on Elk Creek ore
samples could be found to be technologically and economically
feasible at scale and, if eventually incorporated by NioCorp into
the Project's. 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 risks related to the Company's ability
to operate as a going concern; risks related to the Company's
requirement of significant additional capital; changes in demand
for and price of commodities (such as fuel and electricity) and
currencies; changes in economic valuations of the Project, such as
Net Present Value calculations, 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 labor 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 and
the risks set forth in the Company's filings with Canadian
securities regulators at www.sedar.com and the SEC at www.sec.gov.
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.
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SOURCE NioCorp Developments Ltd.
