NioCorp Announces Final Phase III Drilling Results-Over 300 Meters Grading 0.98% Nb2O5
January 19, 2015 (Source: Marketwired) — NioCorp Developments Ltd. (“NioCorp” or the “Company“) (TSX VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce final assay results from its Phase III drilling program and advancement operations in Elk Creek, Nebraska.
The final analytical results have been received from drillholes NEC14-020, NEC14-021, NEC14-022 and NEC14-023. All four of these drillholes were drilled through the resource, along southwest to northeast trending section lines. These results continue to support niobium mineralization in the area of the defined resource and its continuation at depth. The receipt of these results mark the completion of NioCorp’s 2014 three Phase drilling program.
The final analytical highlights for NEC14-020 through NEC14-023 appear below: (Please note that due to the angle of the drilling and other factors, these results do not represent the true thickness of the Niobium resource.)
NEC14-020 Final Assay Results
351 m (237 – 588 m) at 0.71% Nb2O5
- 42 m (285- 327 m) at 1.41% Nb2O5
- 8 m (295 – 303 m) at 2.10% Nb2O5
- 20 m (377 – 397 m) at 1.01% Nb2O5
- 26 m (419 – 445 m) at 0.87% Nb2O5
- 13 m (507 – 520 m) at 0.92% Nb2O5
- 17 m (570 – 587 m) at 1.08% Nb2O5
NEC14-021 Final Assay Results
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304 (446 -750 m) at 0.98% Nb2O5
- 15 m (446 – 461 m) at 1.08% Nb2O5
- 86 m (510 – 596 m) at 1.11% Nb2O5
- 88 m (654 – 742 m) at 1.28% Nb2O5
- 4 m (660 – 664 m) at 3.41% Nb2O5
NEC14-022 Final Assay Results
322 m (437 – 759 m) at 0.60
- 56 m (438 – 494 m) at 0.81% Nb2O5
- 22 m (467 – 489 m) at 1.23% Nb2O5
- 29 m (527 – 556 m) at 1.17% Nb2O5
- 10 m (686 – 696 m) at 1.15% Nb2O5
25 m (808 – 833 m) at 0.45% Nb2O5
17 m (865 – 882 m) at 0.45% Nb2O5
NEC14-023 Final Assay Results
9 m (304 – 313 m) at 0.46
135 m (333 – 468 m) at 0.70
- 7 (333 – 340 m) at 1.29% Nb2O5
- 4 m (348 – 352 m) at 1.30% Nb2O5
- 51 m (366 – 417 m) at 1.04% Nb2O5
- 16 m (381 – 397 m) at 1.33% Nb2O5
24 m (527 – 550 m) at 0.39% Nb2O5
18 m (568 – 586 m) at 0.86% Nb2O5
0.37 m (614.72 – 615.09 m at End of Hole) at 1.57% Nb2O5
“The final Phase III drilling results continue to be extremely encouraging and supportive of our project,” said Mark Smith, CEO of NioCorp. “I could not be more pleased with the overall high-grade assay results that have been delivered from all aspects of our drilling done in 2014.”
“We have accomplished a tremendous amount of work in this past year, and I would strongly encourage people to visit our website to see a review of all this work in our 2014 Shareholder Update. I would also encourage everyone to sign up on our website to receive updates as we continue to develop this world-class asset,” continued Smith.
Brad Ulry, B.Sc., P.Geo., Dahrouge Geological Consulting Ltd., a Qualified Person as defined by National Instrument 43-101, is responsible for the Elk Creek drilling operations and has read and approved the technical information contained in this news release.
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 has filed an NI43-101 compliant resource report, available on SEDAR, reporting an Indicated resource of 28.2 Million Tonnes grading 0.63% Nb2O5, containing 177 Million Kg’s of Nb2O5, and an Inferred resource of 132.8 Million Tonnes grading 0.55% Nb2O5, containing 733.7 Million Kg’s of Nb2O5, (at a 0.3% Nb2O5 cutoff grade). Niobium is mainly used in the form of Ferro-Niobium to produce HSLA (High Strength, Low Alloy) steel, to produce lighter, stronger steel for use in automotive, structural and pipeline industries. The U.S. imports 100% of its niobium needs.
ON BEHALF OF THE BOARD
Peter Dickie, Director, President and Corporate Secretary
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) 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.
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