The results reported are consistent with the Company’s expectations and reinforce confidence in the continuity and grade of mineralization within the targeted areas of the Elk Creek deposit.
The drilling program focused on areas of the deposit where additional data density was required to support higher confidence classifications under applicable reporting standards. The results are being used to update the Elk Creek Project’s Mineral Resource and Mineral Reserve.
NioCorp CEO and Chairman Mark A. Smith said he is very pleased to see the completion of the assay analyses of the more than 7,000 drill core samples that our Department of War-funded infill drilling campaign produced.
Smith called the results very encouraging. The team is now working to incorporate the results into an updated mineral resource and reserve and mine plan, which is a key component of the updated Feasibility Study that will help the Export-Import Bank of the U.S. complete its diligence of our pending debt financing application.
