Drillholes NEC14-006, NEC14-007 and NEC14-008, were drilled along a North-East to South-West section line that was designed to drill across the previously defined Niobium Resource. These holes were drilled at approximately 50 m (165 ft.) intervals along the drill section line. Drillholes NEC14-009 and NEC14-010 were recently completed along a parallel section line to the east of the first three holes. Together, these five holes make up Phase I of NioCorp’s 2014 drilling program. Phase II drilling at the project has commenced, which will consists of an additional 6 holes.

The collected core samples have been systematically processed and shipped for analytical and physical rock property test work to support NioCorp’s corporate objectives for the project. Assay results have now been received and reviewed for the final 120 m of NEC14-008 (total depth drilled and sampled 886 m), along with the top 402 meters of NEC14-009

Analytical highlights for NEC14-008 and NEC14-009 appear below. Note that due to the angle of the drilling and other factors, these do not represent the true thickness of the Niobium Resource:

  • NEC14-008 – newly received results (with previously released results from August 5, 2014 noted immediately below)
  • 448 m interval between 438 – 886 m at 0.69 % Nb2O5
  • 32 m (466 – 498 m) at 1.09 % Nb2O5
  • 5 m (493 – 498 m) at 1.68 % Nb2O5
  • 9 m (553 – 563 m) at 1.00 % Nb2O5
  • 13 m (610 – 623 m) at 1.02 % Nb2O5
  • 12 m (760 – 772 m) at 2.12 % Nb2O5
  • 3 m (768-771 m) at 3.23% Nb2O5
  • 16 m (772 – 788 m) at 1.01 % Nb2O5
  • 10 m (835 – 845 m) at 1.15 % Nb2O5
  • NEC14-008 – previously released results – (see news release dated August 5, 2014)
  • 326 m interval between 438 – 765 m (open) at 0.67 % Nb2O5
  • 32 m (466 – 498 m) at 1.09 % Nb2O5
  • 5 m (493 – 498 m) at 1.68 % Nb2O5
  • 9 m (553 – 563 m) at 1.00 % Nb2O5
  • 13 m (610 – 623 m) at 1.02 % Nb2O5
  • 25 m (740 – 765 m) at 0.85 % Nb2O5
  • NEC14-009 – newly received results for the first 402 m
  • o 183 m interval between 218 – 402 m (open) at 0.55 % Nb2O5, including
  • 29 m (218 – 247 m) at 0.76 % Nb2O5
  • 7 m (240 – 247 m) at 1.76 % Nb2O5
  • 11 m (271 – 282 m) at 1.06 % Nb2O5
  • 11 m (302 – 313 m) at 1.01 % Nb2O5
  • 31 m (370 – 402 m) at 0.65 % Nb2O5

Note that drillhole NEC14-009 was drilled to a final depth of 897.03 meters, and analytical results for the balance of this hole are pending.

"Our drilling program at Elk Creek continues to deliver impressive Niobium assays" said Mark Smith, CEO of Niocorp. "The third drill rig that has been added to the program has accelerated the overall drilling schedule, and I look forward to seeing the balance of the Phase I analytical results in the near future".

Quality Control: Sampling for NEC14-008 was continuously collected from the base of the limestone-carbonatite contact to the end of the drillhole (230 m to 772.67 m). A total of 830 samples from drill hole NEC14-008 were delivered to Activation Laboratories Ltd. (ActLabs), Ancaster, Ontario. Of the 830 samples submitted, 673 samples are core sections while the remainder are control samples. The Carbonatite continued at depth and remains open in that direction. HQ diameter core was sawn into half-core samples, and control samples were inserted into each batch.

Sampling for NEC14-009 was continuously collected from the base of the limestone-carbonatite contact to the end of the drillhole (209 m to 897.03 m). A total of 843 samples from drill hole NEC14-009 were delivered to Activation Laboratories Ltd. (ActLabs), Ancaster, Ontario. Of the 843 samples submitted, 686 samples are core sections while the remainder are control samples. The Carbonatite continued at depth and remains open in that direction. HQ diameter core was sawn into half-core samples, and control samples were inserted into each batch.