CENTENNIAL, Colo., Jan. 3, 2022 /PRNewswire/ -- NioCorp Developments
Ltd. ("NioCorp" or the "Company") (TSX: NB;OTCQX:
NIOBF) is pleased to announce positive results from its ongoing
metallurgical work regarding the process to extract rare earth
elements from ore samples sourced at its Elk Creek Project (the
"Project").
Salt Lake City-based L3 Process
Development ("L3") has been conducting small scale testing for
NioCorp on rare earth recovery and flowsheet improvement and is
also building an integrated demonstration plant at its facility in
the province of Quebec. To date,
L3 has completed several dozen individual tests using portions of a
three-tonne representative sample of ore collected from the Elk
Creek Project drill core inventory.
Recent efforts by L3 have focused on potential rare earths
recovery, including the extraction of rare earth values from the
high acidity streams characteristic of those found in the existing
Elk Creek niobium / scandium /
titanium process flowsheet.
In a recent development, L3 has demonstrated that Scandium can
be effectively extracted and separated from the rare earth elements
in solution using a phosphate-based extractant. With additional
work, this phosphate-based recovery process could be shown capable
of replacing the phosphoric acid-based extraction process that is
part of the current Project design.
L3 has further demonstrated that the rare earth elements
(lanthanum through lutetium, including the magnetic rare earths
neodymium, praseodymium, dysprosium, and terbium) can be
selectively extracted and separated from the leach solution using
an amide-based extractant.
"The data from this most recent solvent extraction testwork is
very encouraging," said Tommee
Larochelle, Ing. PE, MBA, Chief Technology Officer, L3
Process Development. "Both the phosphate and amide-based extraction
testing have performed exactly to plan, and I look forward to
continuing our efforts to verify this a cost-effective way to
produce commercial rare earth products from the Elk Creek flowsheet."
Additional testing is planned at L3's laboratory to further
verify and optimize a rare earth recovery operation for the
Elk Creek project as well as
establishing metallurgical performance and recovery data for three
prospective rare earth products: neodymium/praseodymium oxide,
dysprosium oxide, and terbium oxide.
L3 is now in the process of constructing a small-scale
integrated demonstration plant at its Quebec facility, which will address
hydrometallurgical recommendations from the Company's 2019
Feasibility Study as well as demonstrating potential rare earth
recovery operations.
"We are extremely pleased with the progress that L3 has made to
date and we look forward to continuing our collaboration with them
with the goal of adding additional value from the potential rare
earths to the Elk Creek Project's economics," said Scott Honan, NioCorp's Chief Operating
Officer.
The information contained in this press release does not change
any of the mineral resource or mineral reserve estimates contained
in NioCorp's April 16, 2019, NI
43-101 Technical Report, Feasibility Study, Elk Creek Superalloy
Materials Project, Nebraska. There
has been insufficient work to define a mineral resource with
respect to rare earth data and it is uncertain if further work will
result in rare earth data being delineated as a mineral
resource.
Qualified Person:
Eric Larochelle, B.Eng.,
Hydrometallurgy Specialist (L3 Process Development), a Qualified
Person as defined by National Instrument 43-101 has read and
approved the technical information contained in this news release
and verified the data disclosed in this news release.
@NioCorp $NB.TO $NIOBF #Niobium #Scandium #ElkCreek #rareearth
#neodymium #terbium #dysprosium
For More Information
Contact Jim Sims, VP of External
Affairs, NioCorp Developments Ltd., +1 (303) 503-6203,
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.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute
forward-looking statements, including but not limited to statements
related to the Company's ability to produce Niobium, Scandium,
Titanium and rare earths products at the Elk Creek Superalloy
Materials Project, the outcome of current metallurgical testing of
a phosphate-based recovery process, and the Company's expectation
that a phosphate-based recovery process could lead to greater
efficiencies and cost savings in the Project. Such forward-looking
statements are based on estimates and assumptions made by the
Company in light of its experience and its perception of historical
trends, current conditions and expected future developments, as
well as other factors that the Company believes are appropriate in
the circumstances. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such forward-looking statements
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 NioCorp's
ability to operate as a going concern; risks related to NioCorp's
requirement of significant additional capital; 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 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; 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.