NioCorp to Commence Drilling
2014年5月20日 - 10:37PM
Marketwired
NioCorp to Commence Drilling
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 20, 2014) -
NioCorp Developments Ltd. ("NioCorp" or the "Company")
(TSX-VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce
commencement of drilling activities at the Elk Creek Niobium
project in southeast Nebraska.
Following an extensive review process involving the Company's
key advisors, SRK Consulting ("SRK") of Lakewood, Colorado, and
Dahrouge Geological Consulting Ltd. of Edmonton, Alberta, the
Company has selected West-Core Drilling of Elko, NV to commence
drilling operations at Elk Creek. The first of three phases of this
program will consist of approximately 4,200 meters of core
drilling, with all three phases totalling 12,000 meters if
necessary to fulfill desired corporate outcomes.
The drill program is a key part of the company's overall
development program that has been designed to enhance the
classification of the deposit for use in an updated NI43-101
resource report, as well as simultaneously providing geotechnical,
hydrological, environmental, metallurgical and other data necessary
to advance the project to the feasibility stage. The initial phase
of drilling will provide the data necessary for an updated NI
43-101 report showing a sufficient quantity of material in the
Measured and Indicated category to facilitate future corporate
financing activities.
Drilling is expected to commence with one drill during the week
of May 19th, with a second drill rig being mobilized to the project
site in the week following. Results will be announced as
received.
"This is a very exciting time for NioCorp as we get back on the
ground with very meaningful development work," commented Scott
Honan, M.Sc., Vice President, Business Development, who is
overseeing development activities.
Mark Smith, CEO of NioCorp states, "I am very impressed with the
experienced team of resource development professionals that have
been assembled to dramatically improve and enhance our knowledge of
this deposit, as we move the project rapidly towards
feasibility."
Additional news concerning development aspects will be released
as they occur.
The Company also wishes to announce the granting of incentive
stock options to its directors, officers, consultants and
employees, under its Stock Option Plan, for the purchase of up to
50,000 common shares of the Company for a period of 3 years at a
price of $0.65 per share.
About the
Company: NioCorp are 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 published an NI 43-101
resource of 19.3 Million tonnes grading 0.67% Indicated, containing
over 129,182 tonnes of Nb2O5,
and 83.3 Mt grading 0.63% Inferred, containing over 523,844 tonnes
of Nb2O5). 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.
NioCorp Developments Ltd.(604) 568-7365www.NioCorp.com
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