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NioCorp Reveals Continued Strong Niobium Results From Elk Creek At Depth

|Includes: NioCorp Developments Ltd. (NIOBF)

NioCorp Developments (CVE:NB)(OTCQX:NIOBF) has unveiled what it says are more strong drilling results from its phase II program at its Elk Creek project in Nebraska.

The company received the final analytical results from hole NEC14-014, which was drilled along a southwest to northeast section line through the defined niobium resource.

The hole returned a 390 metre interval at 0.68% niobium, including 126 metres at 1.06% niobium, 15 metres at 1.27% niobium and 5 metres at 2.03% niobium.

The junior niobium developer said the results continue to support niobium mineralization in the area of the defined resource and its continuation at depth.

"The drilling results from the Elk Creek deposit remain impressive," said chief executive officer Mark Smith.

"We are excited that our drilling program continues to provide results that support our objective of developing a world-class niobium asset."

NioCorp's Elk Creek property is the highest grade undeveloped niobium deposit in North America, discovered by Molycorp back in the late 1960s.

The company recently closed a $10.6 million special warrant financing, raising funds for continued infill drilling, pilot plant testing and ultimately, the finalization of its full feasibility study for Elk Creek.

Earlier this month, NioCorp said it was starting the third phase of drilling at its project in Nebraska, after wrapping up the second phase and metallurgical drilling programs.

Niobium is mainly used in the form of ferro-niobium to produce high strength, low alloy steel, for use in automotive, structural and pipeline applications, and demand is seen increasing as the U.S. currently imports 100% of its niobium needs.