If proven at the demonstration plant scale,
this advance may result in major improvements in the Elk Creek
Project, including elimination of entire steps in the Project's
current processing flowsheet
Process improvements also point to a
potentially efficient extraction process for recovery and
purification of rare earth elements, in addition to the Project's
planned production of niobium, scandium, and titanium
CENTENNIAL, Colo., March 14, 2022 /PRNewswire/ -- NioCorp
Developments Ltd. ("NioCorp" or the "Company")
(TSX: NB; OTCQX: NIOBF) is pleased to announce a significant
advance in its ongoing process optimization and rare earth recovery
test work being conducted for the Elk Creek Superalloy Materials
Project (the "Project") by L3 Process Development
("L3").
L3 has conducted bench-scale testing at its facility in the
province of Quebec, Canada to
optimize the Project's current processing flowsheet and demonstrate
that NioCorp can recover and produce high purity rare earth
elements, such as neodymium-praseodymium, dysprosium, and terbium,
in addition to the niobium, scandium, and titanium products already
planned for production by the Company, once Project financing is
secured.
L3's bench-scale testing recently succeeded in showing the
promise of a much more efficient process for recovering niobium and
titanium from Elk Creek ore
following the leaching and acid baking steps in the current
flowsheet. Among other things, the process removes iron
earlier in the process. If shown to be technically and economically
feasible at demonstration scale, this process could potentially
result in the following outcomes:
- Improved recovery rates for niobium and titanium, which could
potentially increase revenue derived from those products;
- The production of higher purity niobium and titanium
intermediates, which may lower costs in the Project's
pyrometallurgical plant;
- The production of a higher purity titanium product, which could
open up new markets for NioCorp;
- Elimination of entire steps in the Project's current processing
flowsheet, such as those related to neutralization and onsite acid
production;
- Elimination of processing inputs such as iron powder; and
- Reduced waste generated in the ferroniobium pyrometallurgical
plant.
Additionally, the higher purity niobium and titanium
intermediates produced by this process could move NioCorp closer to
the eventual production of high purity niobium and titanium
materials needed for next-generation of Lithium-Ion
batteries. NioCorp already plans to produce high purity
scandium, which also is being investigated for possible use in
next-generation solid-state Lithium-Ion batteries (see
this).
All of the preliminary findings noted in this news release must
be confirmed with additional testing, and there can be no assurance
that these outcomes will in fact be realized.
"L3's work to further optimize the Elk Creek Project's flowsheet
in preparation for final engineering, and to map out a pathway to
the potential production of high-purity rare earth elements, has
demonstrated the potential to make some very important improvements
in how we produce all of our planned products," said Scott Honan, NioCorp's Chief Operating
Officer. "If these flowsheet enhancements prove out at the
demonstration plant level, they could lead to some very significant
increases in pay metal recovery rates and potentially large
reductions in capital and operating expenses. We look forward
to validating these preliminary findings at the demonstration plant
level and to communicating the final results of this effort when
completed."
Added Eric Larochelle, Co-Owner
of L3: "The latest achievement in the bench-scale program
provides promising results regarding the quality of the products
this process can potentially provide."
The next steps in L3's work metallurgical testwork involve,
among other things, measuring recovery rates for targeted rare
earth elements in a demonstration scale plant, which it is
constructing in Canada. This testing is expected to produce
results that will determine the technical and economic feasibility
of adding rare earth products to the Project's existing product
suite and other process improvements.
The information contained in this news release does not change
any of the technical or economic findings contained in NioCorp's
April 16, 2019, NI 43-101 Technical
Report, Feasibility Study, Elk Creek Superalloy Materials Project,
Nebraska. Work to update the
Project's Mineral Resource to include data on rare earth elements
in the deposit is ongoing and is expected to be released to the
public upon completion.
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
regarding the Company's ability to secure sufficient project
financing to complete construction and commence operation of the
Project; the Company's expectation and ability to produce Niobium,
Scandium, Titanium and rare earth products at the Project, the
outcome of current recovery process improvement testing, and the
Company's expectation that such process improvements 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.