NioCorp Drills 73m Grading 0.68% Nb2O5
2014年6月26日 - 10:00PM
Marketwired
NioCorp Drills 73m Grading 0.68% Nb2O5
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 26, 2014) -
NioCorp Developments Ltd. ("NioCorp" or the "Company")
(TSX-VENTURE:NB)(OTCQX:NIOBF)(FRANKFURT:BR3) is pleased to announce
initial results from the first phase drilling program currently
underway at the Elk Creek Carbonatite project, located in southeast
Nebraska.
A total of 752 samples from hole NEC14-006 were delivered to
Activation Laboratories Ltd. (Act Labs), Ancaster, Ontario Canada,
from which Nb2O5 analytical results from the first 230 samples have
been received by the Company.
Highlights of these results include:
- 309 to 382 m (73 m interval) 0.68% Nb2O5 weighted averaged
- Including 343 - 371 m (28 m interval) 0.789% Nb2O5
- Including:
- 343 - 358 m (15 m interval) 0.937% Nb2O5
- 343 - 364 m (21 m interval) 0.864% Nb2O5
- 352 - 359 m (7 m interval) greater than 1% Nb2O5
"We are extremely pleased with the progress of drilling and the
results to date, as they are directly in line with our expectations
and goals to enhance the classification of this resource in line
with our corporate objectives," stated Mark Smith, CEO of
NioCorp.
Drilling continues on the site with two drill rigs, and the
Company anticipates receiving and disseminating results from
further drilling activities to be received on a steady basis over
the next couple of months. Results from analytical analysis for the
final 390 m of hole NEC14-006 are expected shortly.
Sampling was continuously collected from the base of the
limestone-carbonatite contact to the end of the drillhole (230 m to
772.67 m). The Carbonatite continued at depth and remains open in
that direction. HQ diameter core was sawn into half-core samples,
and control samples were inserted into each batch. NEC14-006 was
oriented at an azimuth of 030 (NE) degrees, with a -70 degree
dip.
Qualified
Persons: Mr. Brad Ulry, P.Geo is the qualified person
responsible for the Elk Creek Carbonatite drilling operations and
has read and approved the technical disclosure contained in this
news release.
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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