Replies to post #122711 on Niocorp Developments Ltd (NB)

[monocle]

Niocorp does not own the rights to the entirety of the elk Creek carbonite complex. It's hard to imagine them impacting the Niocorp project though.

[PutzMueler]

A bit of a conflict of interest unless NioCorp is involved, if you read what I have below

Company. The project covers a large portion of a rare metal complex which has been known for more than 50 years but remains largely underexplored. Dahrouge Geological Consulting Ltd. (“Dahrouge”) has been retained to review the historical exploration data and provide recommendations going forward.. The project covers a large portion of a rare metal complex which has been known for more than 50 years but remains largely underexplored. Dahrouge Geological Consulting Ltd. (“Dahrouge”) has been retained to review the historical exploration data and provide recommendations going forward.

https://apexcriticalmetals.com/apex-critical-metals-expands-strategic-focus-with-u-s-critical-minerals-property-acquisition/

Perhaps they will be in our joint venture with IBC advanced alloys. 🥳

We can change the name of the board, to “everything but NioCorp”
or “ The more the merrier“ board

[douginil]

Hmmm


Seems that someone has been reading a lot of Niocorp’s annual reports and

NIOCORP DEVELOPMENT LTD.
Management Discussion and Analysis (“MD&A”)
For the three months ending Septembere 30,3013

niocorp.com/wp-content/uploads/NioCorp_MD&A-2014Q1.pdf

Unfortunately the above pdf could not be pulled up. However, it mentions east and west REE’s cluster and the hole EC-93 @ 2.19% REE's

A few years ago when all of a sudden REE’s came into our picture I posted on this board about this REE situation. Didn’t get much interest. But suprisingly I did get a response fom Scott where he posted (can’t remember which) a map showing the location of the ore we are going to mine and the location of the east and west “anomalies”. If I remember they seemed to be close enough to get to from our mine. Scott mentioned that they (we?) were set with our mine plans, of course things are subject to change.

I have a complete copy of the original Niocorp post in their quarterly report but don’t have a clue on how to post it. If some enterprising person knows how to mine the postings on this board and could find my post of years ago and maybe Scotts response to me with the map it might be interesting. I would be happy to send it (as a wpd) to Chico or someone else who knows how to post it let me know.

Below is some description and the data table, hope it helps.

Douginil





NIOCORP DEVELOPMENT LTD.
Management Discussion and Analysis (“MD&A”)
For the three months ending Septembere 30,3013

niocorp.com/wp-content/uploads/NioCorp_MD&A-2014Q1.pdf



Historically Molycorp completed wide-spaced drilling on roughly 610 metre centers surrounding the core zone, within the 7-kilometre diameter geophysical anomaly. Thick intersections of rare earth elements (REE), niobium and phosphate mineralization were encountered in several of these holes. At least 18 of the surrounding holes intersected >20 feet (6.1 metres) of > 1.0% REO, while at least 17 of the surrounding holes intersected >10 feet (3.05 metres) of > 0.6% Nb2O5. All drill intercepts reported here are down-hole measurements. The orientations of mineralized sections are unknown, and therefore, true thicknesses have yet to be determined. It is important to note that REO as reported here refers to rare earth oxide and in this case refers only to the sum of lanthanum, cerium and neodymium oxides only. Results for the other rare earths are not available. Analysis was performed at Molycorp’sinternallaboratories, with check analysis atSkylineLaboratory, Colorado.
In addition to the core historic niobium resource zone, anomalous niobium mineralization was identified during the wide-spaced exploration drilling. Hole EC-40 located approximately 1.5 kilometres northeast of the core niobium resource zone intersected 24.4 metres of 1.01% Nb2O5 and 0.31% REO. Hole EC-95 located approximately 1.2 kilometres southwest of the core niobium resource zone intercepted 10.5 metres of 0.70% Nb2O5.
Three zones of anomalous REE mineralization were identified outside the core historic niobium resource zone, during the wide-spaced exploration drilling. The results of some of the holes are summarized below:

Hole ID                             	From(m)	         To(m)    	Interval(m)           	REO(%) 
 eastern anomaly 
 EC-93				149.4		 289.6		 140.2		 2.19 
    including 			179.8		 198.1		   18.3		 3.12 
 EC-43				243.8		 256.0		   12.2		 2.83 
 					295.7 		 323.1		   27.4		 1.52 
 western anomaly 
 EC-4	          			 217.1		 402.3		 185.2		 1.18 
 					 417.6		 445.0		   27.4		  1.02 
 EC-41				 304.8		 335.3		   30.5		  1.19 
 		           		 365.8          	 396.2		   30.5		  1.28 
 EC-55				 237.7		 429.8		 192.0		  1.31 
 		          		 246.9		 271.3		   24.4 	             1.62 
 					 289.6		 323.1		   33.5		   2.09 
 					 338.3		 390.1		   51.8		   1.52 
 central anomaly 
 EC-1	          			 198.1		 219.5		   21.3		    1.05 
 					 225.6		 234.7		     9.1		    1.08 
 EC-17				 554.7		 612.6		   57.9		     1.27 
 EC-19				 187.5		 253.0		   65.5		     1.13 
 					 627.9		 661.4		   33.5		     1.02 
 EC-21				 207.6		 228.6		   21.0		     1.54 
 

Several of these regional holes terminated in carbonatite. Petrographic and microprobe work completed by Molycorp indicates that the rare earth elements are hosted within the minerals bastnaesite, parasite, synchisite and lesser amounts of monazite. Niobium is hosted within pyrochlore.

[douginil]

Well I'll just try cutting & pasting

Doug



NIOCORP DEVELOPMENT LTD.
Management Discussion and Analysis (“MD&A”)
For the three months ending Septembere 30,3013

niocorp.com/wp-content/uploads/NioCorp_MD&A-2014Q1.pdf



This "Management’s Discussion and Analysis" has been prepared as of November 29, 2013 and should be read in conjunction with the unaudited condensed consolidated interim financial statements of the Company for the three months ended September 30, 2013.
Forward-looking Information
This Management Discussion and Analysis (“MD&A”) contains certain forward-looking statements and information relating to NioCorp Developments Ltd. (formerly Quantum Rare Earth Developments Corp.), (the “Company” or “NioCorp”) that are based on the beliefs of its management as well as assumptions made by and information currently available to the Company. When used in this document, thewords “anticipate”, “believe”, “estimate”, “expect” and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. This MD&A contains forward-looking statements relating to, among other things, regulatory compliance, the sufficiency of current working capital, the estimated cost and availability of funding for the continued exploration and development of Company exploration properties. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of NioCorp to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements.
International Financial Reporting Standards
The financial statements have been prepared in accordance with International Financial Reporting Standards ("IFRS"). Except as otherwise disclosed, all dollar figures included therein and in the following management discussion and analysis (“MD&A”) are quoted in Canadian dollars
The Company
The Company was incorporated on February 27, 1987 under the laws of the Province of British Columbia. The head office, principal address and records office of the Company are located at Suite 1510 - 1050 West Pender Street, Vancouver, British Columbia, Canada V6E 3S7. The Company’s registered address is at the same address. On February 25, 2013 the Company changed its name from NioCorp Rare Earth Developments Corp. to NioCorp Developments Ltd. and effectively at market opening on March 4, 2013 trading in the shares of NioCorp Developments Ltd. commenced on the TSX Venture Exchange under the new trading symbol “NB”. The Company continues with the trading symbols on the United States OTCQX –NIOBF, and the Frankfurt Stock Exchange - BR3.
The Company is in the process of acquiring and exploring its exploration and evaluation assets and has not yet determined whether these properties contain mineral reserves that are economically recoverable. The continued operations of the Company and the recoverability of the amounts shown for exploration and evaluation assets and related deferred exploration costs is dependent upon the discovery of economically recoverable reserves, the ability of the Company to obtain the necessary financing to complete the development, and upon future profitable production.
On September 23, 2013 the Company announced it had appointed Mr. Mark A. Smith as Chief Executive Officer and a director of the Company. Previously Mr. Smith was on the advisory board. Mr. Smith is well recognized in the mining community, having recently served as Chief Executive Officer and director of Molycorp, Inc., where he was instrumentally involved in taking it from a private company to a publicly traded company with a producing mine. Prior to that, he held numerous engineering, environmentaland legalpositionswithin UnocalCorporation(“Unocal”)and later actedas the President and Chief Executive Officer of Chevron Mining Inc. (“Chevron”), a wholly-owned subsidiary of Chevron Corporation. Mr. Smith also served for over five years as a Shareholder Representative of Companhia Brasileira de Metalurgia e Mineração (CBMM), part of the Moreira Salles Group, a private company that currently produces approximately 85% of the world supply of Niobium. During his tenure with Chevron Mr. Smith was responsible for Chevron's three coal mines: one molybdenum mine, a petroleum coke calcining operation and the Mountain Pass mine. Mr. Smith has been a Director of Avanti Mining Inc. since 2009, and has been a Member of the Advisory Board at NioCorp since February 2013. Mr. Smith is a Registered Professional Engineer and serves as an active member of the State Bars of California and Colorado. He received his Bachelor of Science degree in Agricultural Engineering from Colorado State University in 1981 and his Juris Doctor, cum laude, from Western State University, College of Law, in 1990.
On March 5, 2009 Mr. Peter Dickie joined the board of directors. Mr. Dickie is a businessman with over 20 years’ experience with both public and private companies holding numerous senior management positions. On August 19, 2009 he became President and CEO. With the addition of Mark Smith on September 23, 2013 as CEO, Mr. Dickie continues to be the President of the Company. A graduate of both the University of British Columbia, and the University of Victoria (B.C.), his background includes 4 years in the Securities industry with Jones, Gable & Co.
On October 8, 2009 Mr. J. Casey Forward was appointed to the position of Chief Financial Officer. Mr. Forward is an independent CGA with over 20 years of experience in both private and public companies involved in mining and business development. Mr. Forward currently serves as a director or officer of several public companies involved in the mineral resource sector.
On November 28, 2012, Mr. Claude Dufresne joined the board. Previously, Mr. Dufresne had served on the Company’s Technical Advisory Board to help oversee developments of the Company assets which he joined September 27, 2010. Mr. Dufresne graduated with a Bachelor’s degree in Mining Engineering from Laval University in 1991. Following his graduation, Mr. Dufresne started working with Cambior as a metallurgist then mill superintendent before being transferred to Cambior's largest operation located in South America. After spending 10 years on the operational side of the business, he became responsible for worldwide sales and marketing of Cambior’s ferro-nioibium and calcined bauxite. After Cambior's acquisition by Iamgold Corp, Mr. Dufresne collaborated with Iamgold's Corporate Development group while continuing with its sales and marketing activities. In January 2008, Mr. Dufresne started Camet Metallurgy Inc. which was responsible for worldwide sales and marketing of Iamgold's niobium until the end of October 2012. Mr. Dufresne is a member of the Ordre des Ingenieurs du Quebec, and of the Tantalum & Niobium International Study Center (TIC).
On February 14, 2013 the Company announced the addition of the Honorable Tony Fulton, P.E. to the Company’s Advisory Board. Mr. Fulton is a former State Senator in the State of Nebraska, having recently reached his term limit precluding a third term re-election. A lifelong resident from near the Elk Creek area, Mr. Fulton is a graduate of the University of Nebraska, and a Mechanical Engineer by profession. Mr. Fulton was recently a key figure affecting the Keystone XL pipeline, another Nebraska project by a Canadian company, pushing forth with a positive business position accompanied with sound environmental considerations. Fulton commented, “Folks in Southeast Nebraska have been talking about this project in Elk Creek for some time, and I enthusiastically offer my expertise and experience in bringing the project to fruition.”
On March 15, 2010 Ms. Erin Chutter joined the board. Ms. Chutter is the President and Founder of Puget Ventures Inc., a TSXV listed mineral exploration company advancing the Werner Lake Cobalt Mine in Ontario, Canada. Active in politics since the late 1980s, Erin has managed and advised campaigns at three levels of government, as well as party leadership races. She has also served on staff to federal and provincial ministers and leaders. Currently, she also serves on the national board of the Canadian Taxpayer's Federation and the Macdonald Laurier Institute.
On June 6, 2011 Mr. Dave Beling joined the board. Mr. Beling has a unique combination of project and corporate expertise, with over 47 years of experience in the global precious metal, base metal and energy mineral sectors, Mr. Beling has significantly reviewed or was directly involved with 84 underground mines, 127 open pit mines and 163 mineral processing plants as a consultant or while employed with Phelps Dodge, Union Oil, Fluor, United Technologies, Westinghouse, and several Canadian and US junior mining companies. Since 1981 he served as a senior executive and member of the Board of Directors of eight public mining companies. In addition to developing and managing operations, he initiated or strongly contributed to the marketing and closing of several debt and equity financings, commodity and asset sales, mergers, acquisitions and joint ventures.
Mineral Properties
(a) Elk Creek
During the year ended June 30, 2011, the Company completed the acquisition of the Elk Creek property located in Southern Nebraska.
The property interests of Elk Creek consist of a number of pre-paid five year mineral exploration lease agreements which were negotiated prior to acquisition, and include a pre-determined buyout for permanent ownership of the mineral rights. Terms of the agreements require no further payments until the conclusion of the pre-paid lease, at which time the Company may elect to buyout the mineral rights. Certain agreements also contain provisions to purchase surface rights, and several contain provisions whereby the vendors would retain a 2% NSR.
The Elk Creek Carbonatite, located in southeastern Nebraska, is an intrusive complex of carbonatite and related rocks and is host to significant niobium and rare earth element (REE) mineralization. The Elk Creek Carbonatite is evidenced by diamond drilling in an oval-shaped magnetic and gravity anomaly approximately 7 kilometres in diameter, making it one of the largest known carbonatite complexes. According to the US Geological Survey, “The Elk Creek carbonatite, located south of Lincoln, has the potential to be one of the largest global resources of niobium and rare earth elements (REE)” (http://water.usgs.gov/wid/html/ne.html).
The Company has received a 43-101 report on NioCorp's property at Elk Creek, Nebraska, showing an Indicated resource containing over 129 million kilograms of niobium, and an Inferred resource containing over 523 million kilograms of niobium. The current market price for niobium is over $41 per kilogram, Peter Dickie, CEO, said. “Niobium has a range of strategic industrial uses, including highstrength alloys in high-performance aircraft and as a steel hardener in natural gas pipelines.” NioCorp has determined that its 14-square mile site at Elk Creek also contains four primary rare earth elements: lanthanum, cerium, praseodymium and neodymium. Historic exploration of the property was conducted by the State of Nebraska, Cominco American and Molycorp, Inc. during the 1970’s and 1980’s. At least 113 core holes were completed within the outline of the 7-kilometre diameter geophysical anomaly. Detailed drilling of 25 holes was completed within a core zone, which identified high-grade niobium mineralization.
“The U.S. imports 100% of the strategic metal, niobium, and while the U.S. currently has no domestic source, the U.S. Geological Survey (USGS) has said that in addition to rare earth elements (REEs), NioCorp’s 14-square-mile site in Elk Creek, Nebraska may comprise the largest niobium resource in the nation. Niobium is used as a steel hardener to produce lighter, stronger steel and due to this weight advantage can create significant savings when used in automobiles, natural gas pipelines, bridges and buildings. Niobium is also used to produce super-alloys needed by the aerospace and defense industries.”
“The U.S. has shown increasing interest in niobium and rare earth elements. Niobium is subject to strategic stockpiling, along with rare earth elements, under legislation in Congress. In addition, the USGS recently included NioCorp’s Elk Creek site in a federally funded research project conducted by the University of Colorado and the University of Nebraska-Lincoln on mineral resources that are vital to the economy, national security, and land-use decisions.”
On January 31, 2012 the company announced that the U.S. Geological Survey (USGS) had included NioCorp’s Elk Creek, Nebraska rare earth elements (REE) site in a federally funded research project on mineral resources that are important to the economy, national security, and land-use decisions.
“USGS has stated that in addition to REEs at Elk Creek, the site may contain the largest niobium resource in the U.S.,” Dickie said. “It’s an honor for Elk Creek to have been selected as the subject of one of five research grants from USGS under the 2012 USGS Mineral Resources External Research Program (MRERP).”
NioCorp looks forward to cooperating with the grant recipients. NioCorp has been testing historic and recent core samples at Elk Creek, including historic samples that were stored at the University of Nebraska-Lincoln. The principal scientists for the research will be Lang Farmer of the University of Colorado and Matt Joeckel and Richard Kettler of the University of Nebraska-Lincoln. They were selected from among other applicants for MRERP funding from academia, state agencies, private sector organizations and other scientists.
The USGS grant announcement stated, “The University of Colorado and the University of NebraskaLincoln will conduct a collaborative research project to examine the age and origin of the REE resources of the Elk Creek deposit in southeastern Nebraska by investigating previously collected drilling core. The Elk Creek REE deposit is found in a rare carbonate-rich igneous rock known as carbonatite. In addition to REEs, the Elk Creek carbonatite may comprise the largest niobium resource in the United States. Niobium is primarily used as an alloying element in steels and superalloys, such as materials used in high performance aircraft. This research is expected to yield data and information that will advance exploration and assessment models for similar REE deposits.”
The total amount of the five MRERP grants from USGS is more than $260,000. For additional details, see http://www.usgs.gov/newsroom/article.asp?ID=3082 "Although the US is currently dependent on foreign imports for our supply of rare earths and other critical elements that are essential for the high tech industry, our nation is actually rich in deposits of these valuable minerals," explained USGS Director Marcia McNutt. "The Mineral Research Grants help provide the basic research foundation to better develop our domestic resources and thus become less dependent on foreign imports."
Historically Molycorp completed wide-spaced drilling on roughly 610 metre centers surrounding the core zone, within the 7-kilometre diameter geophysical anomaly. Thick intersections of rare earth elements (REE), niobium and phosphate mineralization were encountered in several of these holes. At least 18 of the surrounding holes intersected >20 feet (6.1 metres) of > 1.0% REO, while at least 17 of the surrounding holes intersected >10 feet (3.05 metres) of > 0.6% Nb2O5. All drill intercepts reported here are down-hole measurements. The orientations of mineralized sections are unknown, and therefore, true thicknesses have yet to be determined. It is important to note that REO as reported here refers to rare earth oxide and in this case refers only to the sum of lanthanum, cerium and neodymium oxides only. Results for the other rare earths are not available. Analysis was performed at Molycorp’sinternallaboratories, with check analysis atSkylineLaboratory, Colorado.
In addition to the core historic niobium resource zone, anomalous niobium mineralization was identified during the wide-spaced exploration drilling. Hole EC-40 located approximately 1.5 kilometres northeast of the core niobium resource zone intersected 24.4 metres of 1.01% Nb2O5 and 0.31% REO. Hole EC-95 located approximately 1.2 kilometres southwest of the core niobium resource zone intercepted 10.5 metres of 0.70% Nb2O5.
Three zones of anomalous REE mineralization were identified outside the core historic niobium resource zone, during the wide-spaced exploration drilling. The results of some of the holes are summarized below:


Hole ID From(m) To(m) Interval(m) REO(%)
eastern anomaly
EC-93 149.4 289.6 140.2 2.19
including 179.8 198.1 18.3 3.12
EC-43 243.8 256.0 12.2 2.83
295.7 323.1 27.4 1.52
western anomaly
EC-4 217.1 402.3 185.2 1.18
417.6 445.0 27.4 1.02
EC-41 304.8 335.3 30.5 1.19
365.8 396.2 30.5 1.28
EC-55 237.7 429.8 192.0 1.31
246.9 271.3 24.4 1.62
289.6 323.1 33.5 2.09
338.3 390.1 51.8 1.52
central anomaly
EC-1 198.1 219.5 21.3 1.05
225.6 234.7 9.1 1.08
EC-17 554.7 612.6 57.9 1.27
EC-19 187.5 253.0 65.5 1.13
627.9 661.4 33.5 1.02
EC-21 207.6 228.6 21.0 1.54

Several of these regional holes terminated in carbonatite. Petrographic and microprobe work completed by Molycorp indicates that the rare earth elements are hosted within the minerals bastnaesite, parasite, synchisite and lesser amounts of monazite. Niobium is hosted within pyrochlore.