NioCorp Developments Ltd. (TSX: NB) (OTCQX: NIOBF) (FSE: BR3) is pleased to announce that it has filed a CIM-compliant Technical Report prepared in accordance with National Instrument 43-101 regarding a Feasibility Study completed for the Company’s Elk Creek Superalloy Materials Project.
The Report supports the Company’s June 30, 2017 news release that provided high-level results of the Feasibility Study. The full Report can be seen on SEDAR here and on the Company’s website at www.niocorp.com.
Key findings of the Report include these:
“The Elk Creek Project is highly unique on many levels, and one of the most powerful aspects of the project is that it enjoys a level of project de-risking that is one of the best I have seen,” said NioCorp Executive Chair and CEO Mark A. Smith. “The Project has 75% of its Ferroniobium product under contract. It has a key federal permit already in hand. It enjoys strong local community support, and support from both political parties. It now has a very detailed Feasibility Study that was completed after just over three years of work. This project is ready to move forward.”
“The filing of our NI 43-101 Technical Report allows us to accelerate our ongoing discussions with potential institutional investors in the U.S, Asia, Europe, and elsewhere, including with the German Government’s loan guarantee program,” Mr. Smith added.
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce niobium, scandium, and titanium. Niobium is used to produce superalloys as well as High Strength, Low Alloy steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium can be combined with Aluminum to make super-high-performance alloys with increased strength and improved corrosion resistance. Scandium also is a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and has extensive uses in aerospace, defense, transportation, medical, and other applications. It also is a key component of pigments used in paper, paint and plastics.
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