NioCorp Completes Pentagon-Funded Drilling Campaign at Elk Creek Critical Minerals Project in Nebraska
Reuters
Sep 08
NioCorp Completes Pentagon-Funded Drilling Campaign at Elk Creek Critical Minerals Project in Nebraska
NioCorp Developments Ltd. has completed a Pentagon-funded exploratory drilling campaign at its Elk Creek Critical Minerals Project in southeast Nebraska. The initiative aims to transition a portion of the project's current Indicated Resources into Measured Resources and some Probable Mineral Reserves into Proven Mineral Reserves. This effort supports the U.S. Export-Import Bank's processing of a proposed $800 million debt financing package for the project. The drilling program consisted of 15 HQ diamond drill holes totaling over 9,500 meters. Additional geomechanical drilling is underway to aid in planning underground mine access. Results from the core sampling are expected soon, potentially advancing the project's financing process.
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