Oct 3 2014
NioCorp Developments Ltd. is pleased to announce receipt of additional assays from the ongoing drilling and advancement operations at Elk Creek, Nebraska.
Drillholes NEC14-011 and NEC14-012, two of six drillholes comprising the Phase II drilling program at the project site, have been completed. These drillholes define a north-west to south-east drill section through defined resource, and the holes are oriented at right angles to the 5 holes drilled during the Phase I drilling program. The results are supporting niobium mineralization around the outer edges of the defined Resource and its continuation at depth.
The collected core samples have been systematically processed and shipped for certified analytical analysis at Actlabs in Ancaster, Ontario to support NioCorp's corporate objectives for the project.
Finalized analytical highlights for NEC14-011 and NEC14-012 appear below. Note that due to the angle of the drilling and other factors, these do not represent the true thickness of the Niobium Resource:
NEC14-011 Final Results
- 678 m interval between 222 - 900 m (open at depth) at 0.71% Nb2O5◦108 m (356 - 464 m) at 0.85 % Nb2O5
- 22 m (477 - 499 m) at 1.11 % Nb2O5
- 54 m (579 - 633 m) at 0.95 % Nb2O5
- 134 m (693 - 827 m) at 0.96 % Nb2O5
- 16 m (884 - 900 m) at 0.63 % Nb2O5 (open)
NEC14-012 Final Results
- 592 m interval between 251 - 843.23 m (open at depth) at 0.69% Nb2O5, including◦84 m (251 - 335 m) at 1.00 % Nb2O5
- 56 m (352 - 408 m) at 0.95 % Nb2O5
- 46 m (414 - 460 m) at 1.15 % Nb2O5
- 47 m (560 - 607 m) at 0.88 % Nb2O5
- 26 m (644 - 670 m) at 1.05 % Nb2O5
- 32 m (810 - 843 m) at 0.76 % Nb2O5 (open)
At the same time, the company is pleased to announce the completion of its first metallurgical drillhole and advancement of its second. A third large diameter core rig, operated by IDEA Drilling, was mobilized to site on September 18th to expedite the additional metallurgical drill program. The project continues to perform advanced hydrogeological and Geotechnical test work, collecting additional information from the metallurgical drillholes.
A specialized geotechnical Sigra IST In-Situ Stress test, was successfully performed by Agapito Associates, Inc. on drillhole NEC14-013.
"We are very pleased to continue to report these impressive niobium results from our drilling program at Elk Creek," said Mark Smith, CEO of Niocorp. "Our recently announced resource update, which only contained results from our phase 1 drilling operations, will be updated later this year to reflect Phase 1 and 2 results. When we combine results like we are reporting today together with the tremendous advancements we are seeing in our metallurgical program, we will continue to advance the technical knowledge of the Elk Creek niobium deposit, so it will be recognized as the truly world class asset we have always believed it to be."
Source: http://www.niocorp.com/