The Conservation and Survey Division of the University of Nebraska Lincoln's School of Natural
Resources is Providing NioCorp Access to Historic Drill Core from
the Site to Facilitate Core Assay Tests in September and
October 2021
CENTENNIAL, Colo., Sept. 9, 2021 /PRNewswire/ -- NioCorp
Developments Ltd. ("NioCorp" or the
"Company") (TSX:NB) (OTCQX:NIOBF) is pleased to
announce that it will analyze historic drilling core samples from
the Elk Creek deposit in southeast
Nebraska in order to compile
sufficient data with the aim of publishing an updated Mineral
Resource for the Elk Creek Critical Minerals Project (the
"Project") that includes individual rare earth elements
("REEs") grades and tonnage that may exist in the
deposit.
NioCorp is currently conducting extensive metallurgical testing
to demonstrate, among other things, the potential extraction and
recovery of REEs from the Project site, subject to receipt of
necessary project funding.
Updating the Project's Mineral Resource is a significant step
forward in the Company's examination of the technical and economic
feasibility of adding several REEs as byproducts to its planned
product suite, which includes the critical minerals niobium,
scandium, and titanium. The Company's REE initiative was
launched in response to intense interest by governments and
industrial consumers around the world for additional sources of
rare earths beyond current suppliers.
Publicly issuing an updated Mineral Resource that includes
individual REE grades and tonnage data contained in the
Elk Creek deposit is not expected
to require updating other major elements of the Project's current
Feasibility Study.
Commercial rare earth products currently being examined for
potential production by NioCorp include neodymium-praseodymium
oxide ("NdPr"), dysprosium oxide ("Dy2O3"), and
terbium oxide ("Tb4O7"). These are the primary rare
earth elements used to manufacture the world's most powerful
permanent magnets, known as neodymium-iron-boron ("NdFeB")
magnets.
"Metallurgical testing to date has shown excellent preliminary
results in terms of the efficiency with which we believe we can
extract rare earths as a byproduct of our current production
plans," said Scott Honan, Chief
Operating Officer of NioCorp. "Taking this next step of
updating our Mineral Resource and including rare earth grades and
tonnages in the Resource, to the extent REEs qualify for reporting
as a Mineral Resource, will help us move forward in this process
and should provide the public with more information on the rare
earth potential of the Elk Creek
carbonatite. I look forward to seeing the results of
additional core sampling."
"I also want to thank the University of
Nebraska-Lincoln for its support of this effort and for the
UNL's Conservation and Survey Division's many years of involvement
in the assessment of the world-class carbonatite near Elk Creek," he added.
Extensive drilling of the Elk
Creek resource has been conducted by NioCorp and other
companies over the past several decades. Some of the
drill core from that exploratory drilling is stored and curated in
a repository of the University of
Nebraska's. UNL's Conservation and Survey Division
("CSD") is a unique, multi-disciplinary research, service
and data-resource organization that originated in 1893. As
Nebraska's geological survey, its mission is to investigate and
record information about the state's geologic history, its rock and
mineral resources, the quantity and quality of its water resources,
land cover, and other aspects of its geography, as well as the
nature, distribution and uses of its soils.
CSD was actively involved in the discovery of the Elk Creek carbonatite more than five decades
ago. CSD continues to curate samples and data from the
deposit, among its many other collections, for the benefit of
stakeholders and in the public interest. CSD has been an
invaluable source of data and expertise for minerals development
and other Earth-science issues in Nebraska since its founding.
@NioCorp $NB $NIOBF #ElkCreek #Niobium #Scandium #Nebraska
#rareearth #UNL #CSD
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. The Company also is
evaluating the potential to produce several rare earth byproducts
from the Project. 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
success of the Company's effort to sample additional Elk Creek drill core, its ability to complete
and issue an updated Mineral Resource for the Project, to the
extent REEs qualify for reporting as a Mineral Resource, its
ability to produce commercial rare earth products, the Company's
expectations that the Project will reach production stage if it is
able to secure project financing, and its ability to produce its
planned products commercially. 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.