Quantum Rare Earth: Elk Creek Carbonatite Host to an Inferred Resource of 83

Quantum Rare Earth Developments Corp. (TSXV:QRE) reports the first NI 43-101 compliant resource estimate for the Elk Creek Niobium deposit, Nebraska, USA. 

The press release is quoted as saying:

The resource estimate was prepared by Wardrop (Mining and Minerals) of Toronto, Ontario. Mineral estimates were estimated by Wardrop, by applying several different cut-off grades, with a base case resource estimated using a cutoff of 0.40% Nb₂O₅. The mineral resource estimate for the Elk Creek Deposit, at 0.4% Nb₂O₅ cut-off grade, is an Inferred Resource of 83.4 Mt at 0.62 Nb₂O₅%. 

Quantum Rare Earths Developments Corp.’s  President & CEO, Peter Dickie says:

“We are greatly encouraged by these exceptional results, as they provide the United States with the opportunity to develop a domestic supply of Niobium.; a country which currently imports almost 100 per cent of its consumption. According to the USGS, 8.5 million kilograms of niobium were imported by the US in 2010. Recent developments in the critical metals market highlight the need for a diverse supply chain for critical metals.”

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