Drilling and investigation of glacial soil layer prior to proposed ground leveling, initial structure, heavy structure, and eventual base emptying for the Elk Creek Project
CENTENNIAL, CO / ACCESSWIRE / June 1, 2023 / NioCorp Developments Ltd. (“NioCorp” or the “Company”) (NASDAQ:NB) (TSX:NB) today announced the successful finishing touch of a geotechnical drilling crusade at Elk Creek Critical Mineral Project (the “Elk Creek Project”) in southeastern Nebraska, which was completed prior to site preparation, leveling, the heavy structure and prospective base smelters for the Elk Creek Project that are expected to commence once sufficient funding has been provided.
The crusade involved drilling 16 wells and 20 control wells at the one-square-mile Elk Creek allocation site, analyzing soil samples, and generating knowledge for engineering design corporations that continue to finalize plans for the facility’s prospective structure. The drilling explored the geology layer of “glacial tillage,” which includes the first 30 meters or so of soil, clay and sand that covers much of southeastern Nebraska. This layer of sediment was deposited through repeated glaciations that occurred in the Pleistocene epoch that ended about 11,000 years ago.
“This vital drilling is one component of extensive research that is helping us perceive how soils vary so we can conscientiously plan our facility design and structure plans,” said Scott Honan, NioCorp’s chief operating officer, who oversaw the fieldwork.
“What excites me about this drilling crusade is that these are the kinds of paintings you do before you start some of the vital site preparation paints in terms of cleanup, ground leveling, preparing for the installation of transitional facilities and utilities, structure trailers and other construction infrastructure, and the beginning of the initial paintings necessary for the overall structure. »
“We hope that the finishing touches on these paintings now will allow us to move much faster towards the structure once we have enough investment to move to this stage,” he added.
Qualified person
Scott Honan, M. Sc. , SME-RM, Chief Operating Officer of the Company, a Qualified Person as explained in National Instrument 43-101 – Disclosure Standards for Mineral Projects, has reviewed and approved the technical and verified knowledge contained in this press release.
Olsson’s groups in Omaha and Tierra Group Intl in Denver. They conduct geotechnical drilling operations at the Elk Creek Project site.
Several piezometric waterpoint tracking devices were the result of NioCorp’s geotechnical drilling crusade at the Elk Creek assignment site.
ABOUT NICORP
NioCorp is nearing a critical mineral allocation in southeastern Nebraska that will produce niobium, scandium and titanium. The Company is also comparing prospective production from several rare Project lands. Niobium is used to produce specialty alloys as well as high-strength metals (“HSLA”), which is a softer and more powerful metal used in automotive, structural, and piping applications. It is also a must-have component of complex forged oxide fuel cells. Titanium is used in soft alloys and is a key component of pigments used in paper, paint, and plastics, and is also used for aerospace, armor, and medical implant applications. Uncommon magnetic earths, such as neodymium, praseodymium, terbium, and dysprosium, are indispensable for the manufacture of neodymium-iron-boron (“NdFeB”) magnets, which are used in a wide variety of military and civilian applications.
FORWARD-LOOKING STATEMENTS
This press release includes forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. s regarding: NioCorp’s ability to extract ore from the Elk Creek Project; and NioCorp’s planned plans for site preparation, infrastructure and structure of the Elk Creek Project, adding the structure timeline and requirements to have an investment in place. Forward-looking statements are sometimes referred to through words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “anticipate,” “project,” “continue,” “could,” “possibly,” “could,” “possible,” “potential,” “anticipates,” “should,” “could” and other similar words and expressions, however, the absence of those words does not mean that a is not forward-looking.
Forward-looking statements are based on existing expectations of NioCorp’s control and are inherently related to uncertainties and adjustments in cases and their possible effects and speak only as of the date of such statement. There can be no assurance that long-term progressions will be as expected. Forward-looking statements reflect vital expectations and assumptions, including, without limitation, expectations and assumptions related to: the utility of the effects of geotechnical drilling without an updated feasibility study. These expectations and assumptions are inherently subject to uncertainties and contingencies related to long-term events and, as such, are subject to change. Forward-looking statements imply a number of hazards, uncertainties or other issues that may also cause actual effects or functionality to differ slightly from those expressed or implied by such forward-looking statements. These dangers and uncertainties include, but are not limited to, those discussed and disclosed in NioCorp’s public filings with the SEC and with applicable Canadian securities regulators and the following: NioCorp’s ability to recognize the expected benefits of the combination of business with GX Acquisition Corp. II (the “Business Combination”) and the Standthrough Stock Purchase Agreement (the “Yorkville Equity Facility Financing Agreement” and, together with the Business Combination, the “Transmovements”) with YA II PN, Ltd. , an investment fund controlled through Yorkville Advisors Global, LP, adding NioCorp’s ability to access the full amount of expected net proceeds under the Yorkville Equity Facility Financing Agreement during the next 3 years; unexpected prices related to Transmovements; the latest results of any legal proceedings that could possibly be filed against NioCorp following the last of the Transmovements; NioCorp’s ability to achieve a final investment commitment from the Export-Import Bank of the United States in a timely manner, on appropriate terms, or at all; NioCorp’s ability to continue to meet the standards of The Nasdaq Stock Market LLC’s board of directors; NioCorp’s ability to function as a going concern; risks related to NioCorp common stock, including volatility of value, lack of dividend bills, and dilution or perceived probability of any of the above; NioCorp’s requirement for significant additional capital; the extent to which NioCorp’s indebtedness point and/or the terms contained in the agreements governing NioCorp’s indebtedness or the Yorkville Equity Facility funding agreement would potentially impede NioCorp’s ability to obtain additional funding; covenants contained in agreements with secured creditors of NioCorp that would possibly be its assets; NioCorp’s limited operating history; NioCorp’s loss history; the restatement of NioCorp’s consolidated financial statements for the years ended June 30, 2022 and 2021 and the interim periods ended September 30, 2021, December 31, 2021, March 31, 2022, September 30, 2022 and December 31, 2022 and have an effect of such restatement on NioCorp’s long-term monetary statements and other monetary measures; the weakness of shades in NioCorp’s internal control over monetary reporting, NioCorp’s efforts to address such weakness of shades, and the timing of remediation; the option for NioCorp to possibly qualify as a passive foreign investment company under the United States Tax Code of 1986, as amended (the “Code”); the option that the Transmovements would possibly cause NioCorp to be subject to adverse US federal source income tax consequences due to the application of Section 7874 and similar sections of the Code; charge increases for NioCorp exploration and, if warranted, progression projects; interruption or failure of NioCorp’s data generation systems, adding those similar to cybersecurity; shortage of appliances and supplies; existing and long-term acquisition agreements, joint ventures and partnerships; NioCorp’s ability to attract qualified executives; the effects of the COVID-19 pandemic or other global fitness crises on NioCorp’s business plans, monetary condition and liquidity; mineral resource and reserve estimates; mining exploration and production activities; the effects of the feasibility study; metallurgical control effects; adjustments in the demand and value of commodities (such as fuel and electricity) and foreign exchange; festival in the mining industry; adjustments or disturbances in the securities markets; legislative, political or economic progressions, adding adjustments in federal and/or state legislation that could possibly affect the mining industry; have a climate change effect, as well as moves taken or required by governments in relation to building resilience to have a prospective climate change effect; the desire to download allows entry and compliance with laws and regulations and other regulatory needs; timeliness and reliability of sampling and research data; the option that the actual effects of the paintings would possibly differ from projections/expectations or fall short of the perceived perspective of NioCorp projects; dangers of accidents, equipment problems, and disputes over hard work or other unforeseen difficulties or interruptions; the option of cost overruns or unforeseen expenses in progression programs; operational or technical difficulties related to exploration, mining or progression activities; control of the water balance at the Elk Creek Project site; land reclamation needs similar to the Elk Creek Project; the speculative nature of mineral exploration and progression, adding the dangers of diminishing amounts of reserve and resource grades; name claims to NioCorp properties; long-term prospective litigation; and the lack of NioCorp insurance covering all NioCorp operations.
In the event that one or more of these hazards or uncertainties materialize or any assumption made through NioCorp’s control proves incorrect, the actual effects may differ materially from those projected in such forward-looking statements.
All of the following forward-looking written and oral statements relating to the subject matter hereof attributable to NioCorp or any user acting on its behalf are expressly qualified in their entirety by the cautionary statements contained in or referenced herein. Except to the extent required by applicable law or regulation, NioCorp assumes no legal responsibility to update those forward-looking statements to reflect occasions or events after the date hereof to reflect the occurrence of unforeseen occasions.
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