I’m really looking forward to the “ final “ results ! …
“In the coming weeks, we look forward to seeing the final results from the separations extractions testing that is now underway and to reporting those results to the public."
NioCorp Rare Earth Demonstration Plant Showing Positive Rare Earth Recovery Results
CENTENNIAL, Colo. (January 4, 2023) – NioCorp Developments Ltd. (“NioCorp” or the “Company”) (TSX:NB) (OTCQX:NIOBF) today announced that its demonstration-scale processing plant (the “demonstration plant”) in Quebec, Canada has succeeded in obtaining a rare earth dissolution rate of 86-95% from Elk Creek ore through hydrochloric acid leaching, and has achieved a loading rate of rare earths as high as 99% in the follow-on solvent extraction recovery step. These relatively high rates, which were expected, point to potentially strong rates of overall recovery of separated rare earth oxides, subject to additional demonstration testing over the coming weeks.
Additional solvent extraction steps will be deployed to establish the ultimate recovery rates of potential rare earth products. The demonstration plant has further established that the rare earths recovered in the initial solvent extraction step are accompanied by only two impurities of note: iron and a very small amount of nickel. Given the success of this initial separation step, L3 and NioCorp expect that losses in the additional solvent extraction steps would be low.
NioCorp is currently focused on demonstrating its ability to recover three high-purity rare earth products: (1) neodymium-praseodymium ("NdPr") oxide, which is the principal component of neodymium-iron-boron ("NdFeB") permanent rare earth magnets, (2) Dysprosium ("Dy") oxide, and (3) Terbium ("Tb") oxide. Both Dy and Tb oxide are critical to the type of powerful NdFeB magnets used in the traction motors of electric vehicles. However, very little of these high-purity separated rare earth products are made outside of Asia.
"These results are in line with our expectations and they show that the ongoing work at the plant is proceeding in a positive direction," said Scott Honan, NioCorp's Chief Operating Officer. "In the coming weeks, we look forward to seeing the final results from the separations extractions testing that is now underway and to reporting those results to the public."
As no economic analysis has been completed on the rare earth mineral resource comprising a portion of the Elk Creek Project, further studies are required before determining whether extraction of rare earth elements can be reasonably justified and economically viable after taking account all relevant factors.
QUALIFIED PERSONS:
Eric Larochelle, B.Eng., Co-Owner, L3 Process Development, a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information, and verified the data, contained in this news release.
Scott Honan, M.Sc., SME-RM, COO of NioCorp Developments Ltd., a Qualified Person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in the news release.
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