NioCorp Files NI43-101 Resource Report for Elk Creek Niobium, Scandium, Titanium Mineral Resource
March 11, 2015 (Source: Marketwired) — NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) On behalf of our shareholders, NioCorp is pleased to announce the filing of an updated NI43-101 resource report for the Elk Creek niobium, scandium and titanium deposit (the “Deposit“). A summary of the resource report is contained in the Company’s news release dated February 23, 2015, and the full report will be available on SEDAR and the Company’s website www.niocorp.com shortly.
Following the listing of the Company’s shares for trading on the Toronto Stock Exchange (“TSX“), effective March 9, 2015, the Company is pleased to report that Mark Smith, Executive Chairman and CEO, and Peter Dickie, President of NioCorp, opened the market at the official listing ceremony the morning of March 11, 2015. A video clip of the ceremony will be available shortly on the Company’s website (https://www.youtube.com/user/TMXGroup).
Following the TSX opening bell ceremony, Mark Smith was invited to a live interview on BNN. The interview can be seen at (http://www.bnn.ca/Shows/Commodities.aspx).
Mr. Smith commented, “We are tremendously proud of the hard work and dedication shown by our staff and affiliates in achieving these significant milestones. We remain confident that the continued progress of our technical work programs at the Elk Creek deposit is the most effective way to create long term shareholder value.”
About the Company: NioCorp is 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 is announcing an NI43-101 compliant resource with an effective date of February 20, 2015 reporting an Indicated Resource of 80.5 million tonnes grading 0.71% Nb2O5, 2.68% TiO2 and 72 ppm Sc and an Inferred Resource of 99.6 million tonnes grading 0.56% Nb2O5, 2.31% TiO2 and 63 ppm Sc (at a 0.3% Nb2O5cutoff grade). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, which is a lighter, stronger steel used in automotive, structural and pipeline applications. The U.S. imports 100% of its niobium needs. Titanium in the form of an oxide is used extensively as a pigment in paints, plastics and papers. As a metal, titanium is used in aerospace applications, armor, chemical processing applications, marine hardware applications, medical implants, power generation and in sporting goods. Scandium is used in solid oxide fuel cells (SOFCs) and aluminum-scandium alloys, as well as in ceramics, electronics, lasers and lighting applications.
ON BEHALF OF THE BOARD
Peter Dickie, Director, President and Corporate Secretary
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) 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.
InvestorIntel.com is a leading online source of investor information that provides public market coverage for both investors and industry alike. A qualified online influencer through ... <Read more about InvestorIntel>