NioCorp to Launch Drilling Program at Elk Creek Project

NioCorp Developments Ltd. is set to begin a 12-week drilling campaign at its Elk Creek Project in Nebraska later this month. This initiative aims to upgrade a portion of the current indicated resources to measured resources and transform probable mineral reserves into proven ones through an updated feasibility study. This update is essential for the due diligence process as NioCorp applies for up to $800 million in debt financing from the U.S. Export-Import Bank.

The drilling campaign will operate under existing permits and supplement previous exploratory efforts. Additionally, NioCorp plans to enhance its production process, potentially incorporating rare earth oxides and producing titanium tetrachloride, ferroniobium, and niobium oxide. Given China's export restrictions, NioCorp's strategy is timely for strategic asset development.