Quantum Rare Earth Developments declared on Tuesday that it has found encouraging assay results at 2 holes from the spring / summer 2011 exploration program at its Elk Creek property. The Elk Creek project is located in south-eastern Nebraska.
Out of the five hole drilling program the second and third holes namely NEC11-002 and NEC11-003 were drilled in the north-western portion of the Elk Creek niobium deposit at depth and in the south-eastern region of the mineralization.
The assay results from the second holes said that 179.18 metres grading 0.87% niobium pentoxide and 0.43% total rare earth oxides (TREO), including 131.03 metres of 1.02% niobium pentoxide and 0.48% TREO, and 1.23% niobium pentoxide and 0.38% TREO over 34.16 metres, was found in hole NEC11-002.
Results for the third hole NEC11-003 gave 130.37 metres grading 0.58% niobium pentoxide and 0.48% TREO, including 0.94% niobium pentoxide and 0.42% TREO over 34.16 metres. The results provide additional information about the deposit at a depth which was unknown so far.
The drilling campaign had been designed as an in-fill and step-out campaign and that is just what did it. The results will now upgrade the resource estimate to the indicated category, to expand the known niobium resource at the property.