NioCorp Concludes Pentagon-Backed Drilling at Elk Creek Project

NioCorp Developments Ltd. has successfully completed a Pentagon-funded exploratory drilling campaign at its Elk Creek Critical Minerals Project in Nebraska. The drilling aims to convert Indicated Resources into Measured Resources and Probable Mineral Reserves into Proven Mineral Reserves, a crucial step for a proposed $800 million debt financing deal with the Export-Import Bank of the U.S.

The program's first phase ended in August, encompassing 11 diamond drill holes over 7,336 meters. Phase two involved four additional holes covering 2,235 meters, with analysis results forthcoming. Additional geomechanical drilling is ongoing.

NioCorp CEO Mark A. Smith expressed confidence in achieving project goals, paving the way for financing progress. The project targets the production of niobium, scandium, and titanium.