NioCorp Drilling Update
2014年6月3日 - 10:27PM
Marketwired
NioCorp Drilling Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 3, 2014) -
NioCorp Developments Ltd. ("NioCorp" or the "Company")
(TSX-VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to provide
the following update.
On June 2nd, a second drill rig completed mobilization to the
project site, and is expected to commence drilling operations on
June 3rd. The first drill rig has been on site for two weeks, and
as of June 1st has completed approximately 560 meters of core
drilling. The core will be assayed for resource enhancement, and
will also be utilized for geotechnical, geochemical, and
metallurgical studies. The boreholes will be further utilized for
geotechnical and hydrologic test work once core extraction is
complete. Drilling with both rigs will continue on a 24 hour
schedule until completion of phase one, with phase two drilling
commencing immediately thereafter.
The drill program was designed after an extensive review process
involving the Company's key advisors, SRK Consulting ("SRK") of
Lakewood, Colorado, and Dahrouge Geological Consulting Ltd.
("Dahrouge") of Edmonton, Alberta. The first of three phases of
this program will consist of approximately 4,200 meters of core
drilling, with all three phases totaling 12,000 meters, if
necessary, to fulfill desired corporate outcomes.
Preparation work was completed at the outset of the drill
program and Niocorp's exploration facilities are now fully
operational, with staffing from NioCorp, SRK, Dahrouge and
additional locally sourced staff. Additional technical personnel
from the University of Nebraska in Lincoln are also expected to
join the project team shortly. The elevated staffing levels will
allow for steady processing of drill core, enabling a rapid
turnaround on testing results. On site facilities include two
steel-frame, concrete floored core storage and processing buildings
built by Molycorp in the 1980s, that are capable of handling the
expected drill core production rates. A small office in the nearby
town of Tecumseh provides additional space for engineering and
technical planning work. In order to better oversee the off-site
work on the project, the Company is establishing an office in
Denver, Colorado. Both SRK and Hazen Research Inc. ("Hazen"), who
are integrally involved in the ongoing metallurgical studies, are
located in the Denver area.
"I am pleased with the pace of the initial drilling activities
on the project," said Mark Smith, NioCorp's CEO. "We have a very
capable and experienced team working on the project, and I look
forward to seeing results from our efforts in the near future."
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.Peter DickieDirector, President and
Corporate Secretary(604) 568-7365(604) 568-8270www.NioCorp.com
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