NioCorp Developments Reports High-grade Assay Results, Provides Metallurgical Update

NioCorp Developments Ltd. (TSXV:NB,OTCQX:NIOBF,FWB:BR3) reported further results from the first phase of ongoing drilling operations at its Elk Creek carbonatite project in Southeast Nebraska.

Highlights of results from hole NEC14-006 include 309 to 440 meters (a 131-meter interval) grading 0.61-percent Nb2O5 and 590 to 771 meters (a 181-meter interval) grading 0.52-percent Nb2O5, including 698 to 732 meters (a 34-meter interval) grading 0.91-percent Nb2O5. These assay results represent some of the highest-grade sample results obtained on the project. In addition, NioCorp provided a metallurgical update.

As quoted in the press release:

Metallurgical studies on behalf of the Company is proceeding, with over 100 bench scale tests now completed at SGS Canada Inc., at Lakefield, Ontario, and Hazen Research Inc., at Golden, Colorado. Significant progress has been made towards developing an economic process flowsheet for Niobium recovery from the Elk Creek deposit. This work is ongoing and the company plans to initiate pilot plant testing immediately following the completion of bench scale testing. Results to date include recoveries of 75% of the Niobium while rejecting 75% of the mass of the ore without the use of de-sliming operations currently practiced at other niobium processing facilities (which results in significant Niobium losses to the slime fraction).

NioCorp CEO Mark A. Smith said:

We are extremely pleased with the work completed to date, on both the drilling and metallurgical aspects of this technical phase of development. With current drill results exceeding expectations and significant, positive results from metallurgical research, we will continue to expedite the work required to advance this project along corporate objectives.

Click here to read the NioCorp Developments Ltd. (TSXV:NB) press release.