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United States
Elk Creek Project

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 Location:
110 km SW from Omaha, Nebraska, United States

  Project Contacts:
386 Broadway PO Box 506
Tecumseh
Nebraska, United States
68450
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WebsiteWeb
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Overview

StagePermitting
Mine TypeUnderground
Commodities
  • REE
  • Niobium
  • Titanium
  • Scandium
  • Total Rare Earth Oxides
Mining Method
  • Longhole stoping
  • Paste backfill
Production Start...
Mine Life38 years (as of Jan 1, 2022)
Elk Creek: 2nd Largest Rare Earth Indicated Resource in the U.S.

NioCorp’s has in hand all of the permits required to begin construction.
Latest NewsNioCorp Announces Finalized Financing Agreements with Yorkville Advisors Global, LP     January 26, 2023


Owners

Source: p. 86
CompanyInterestOwnership
NioCorp Developments Ltd. (operator) 100 % Indirect
Elk Creek Resources Corporation (ECRC) is a Nebraska based wholly owned subsidiary of NioCorp. NioCorp retains 100% of the mineral rights to the Project and is the operator.

Contractors

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Deposit Type

  • Carbonatite hosted


Summary:

The Project is hosted within the Elk Creek Carbonatite. By definition a carbonatite is an igneous rock body with greater than 50% modal carbonate minerals, mainly in the form of calcite, dolomite, ankerite, or sodium- and potassium-bearing carbonates. Carbonatites commonly occur as intrusive bodies, such as isolated sills, dikes, or plugs, although rarely occur as extrusive rocks. Many carbonatites are associated with alkali silicate rocks (for example, syenite, nepheline syenite, ijolite, urtite, pyroxenite, etc.). Carbonatites are usually surrounded by an aureole of metasomatically altered rocks called fenites. Carbonatite-associated deposits can be classified as magmatic or metasomatic types (Richardson and Birkett, 1996).

The property hosts niobium, titanium, and scandium mineralization as well as REE and barium mineralization that occur within the Elk Creek Carbonatite.

The current known extents of the high grade niobium, titanium, and scandium are approximately 750 m along strike, 400 m wide, and 800 m in dip extent below the unconformity.

Niobium and Titanium Mineralization
The deposit contains significant concentrations of niobium. Based on the metallurgical test work completed to date at a number of laboratories using QEMSCAN® analysis, the niobium mineralization is known to be fine-grained, and that 77% of the niobium occurs in the mineral pyrochlore, while the balance occurs in an iron-titanium-niobium oxide mineral of varying ........


Mining Methods

  • Longhole stoping
  • Paste backfill


Summary:

The mining method selected for this ore body was based on economic parameters and geotechnical information, ensuring it was suitable for the mineralization geometry. Due to its depth and requirement for selectivity in mill feed grades, the underground longhole stoping method (LHS) was selected. Given the bulky geometry of the deposit, a block caving or sub-level caving method could have possibly been economically viable. However, the limited selectivity of such methods would not allow for optimizing the higher value of this deposit given their production constraints. To maximize the recovery of the high grade zones, a longhole stoping method utilizing paste backfill was used.

The stopes dimensions are 15 m wide, and stope length varies based on Nb2O5 mineralization grade to a maximum of 25 m per panel with a level spacing of 40 m. The variation on stope length allowed for optimization of the Nb2O5grade with a minimal increase to operating costs. The level spacing of 40 m was beneficial to operating and sustaining capital costs. Each block is mined with a bottomup sequence. A partial sill pillar level is designed to be left between these two mining fronts/blocks. The extraction of ore from the partial sill pillar level is expected to be 62.5% using production upholes through 25 m of the 40 m thick sill pillar and is accounted for within the reserves. This methodology will allow partial mining of ore on the sill pillar level, while at the same time allowing the deve ........


Crushing and Grinding
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Processing

Flow Sheet: Subscription required

Summary:

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Projected Production:
The assumed products are a ferroniobium product (metallic alloy shots consisting of 65%Nb and 35% Fe), a titanium dioxide product in powder form, and scandium trioxide in powder form.

FeNb alloy ratio: Fe/Nb = 0.35/0.65).

CommodityProductUnitsAvg. AnnualLOM
Niobium Ferro-niobium t 7,220171,140
Titanium dioxide Powder t  ......  Subscription required  ......  Subscription required
Sc2O3 Powder t  ......  Subscription required  ......  Subscription required

Operational Metrics:

Metrics
Daily ore mining rate  ......  Subscription required
Waste tonnes, LOM  ......  Subscription required
Ore tonnes mined, LOM  ......  Subscription required
Total tonnes mined, LOM  ......  Subscription required
Daily processing rate  ......  Subscription required
Tonnes processed, LOM  ......  Subscription required
Annual processing rate  ......  Subscription required
Annual processing capacity  ......  Subscription required
* According to 2022 study.
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Reserves at June 28, 2022:
The Mineral Reserve is based on the mine design, mine plan, and cash-flow model utilizing an average cut-off grade of 0.679% Nb2O5 with an NSR of US$ 180/mt.
The Mineral Resources are reported at a Diluted Net Smelter Return (NSR) Cut-off of US $180/tonne.

CategoryTonnage CommodityGradeContained MetalRecoverable Metal
Probable 36,656 kt Niobium t 170,409 t
Probable 36,656 kt Scandium 70.2 ppm 2,573 t
Probable 36,656 kt Nb2O5 0.81 % 297,278 t
Probable 36,656 kt Titanium dioxide 2.92 % 1,071,182 t 431,793 t
Probable 36,656 kt Sc2O3 t 3,677 t
Indicated 188.8 Mt Scandium 60.06 ppm 11,337 kt
Indicated 188.8 Mt Nb2O5 0.51 % 970.3 kt
Indicated 188.8 Mt Titanium dioxide 2.24 % 4,221 kt
Indicated 188.8 Mt Total Rare Earth Oxides 0.3353 % 632.9 kt
Inferred 108.3 Mt Scandium 52.28 ppm 5,660 t
Inferred 108.3 Mt Nb2O5 0.39 % 426.6 kt
Inferred 108.3 Mt Titanium dioxide 1.92 % 2,082 kt
Inferred 108.3 Mt Total Rare Earth Oxides 0.3769 % 408.1 kt

Commodity Production Costs:

CommodityUnitsAverage
Pre-tax break-even price Sc2O3 USD  ......  Subscription required&nbs
Assumed price Sc2O3 USD  ......  Subscription required&nbs
Assumed price Titanium dioxide USD  ......  Subscription required&nbs
Assumed price Niobium USD  ......  Subscription required&nbs
* According to 2022 study / presentation.
Subscription required - Subscription is required.

Operating Costs:

Units2022
UG mining costs ($/t milled) USD 42.4 *
Processing costs ($/t milled) USD  ......  Subscription required
G&A ($/t milled) USD  ......  Subscription required
Total operating costs ($/t milled) USD  ......  Subscription required
* According to 2022 study.
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2022 Study Costs and Valuation Metrics :

MetricsUnitsLOM Total
Initial CapEx $M USD  ......  Subscription required
Sustaining CapEx $M USD  ......  Subscription required
Closure costs $M USD  ......  Subscription required
Total CapEx $M USD  ......  Subscription required
UG OpEx $M USD  ......  Subscription required
Processing OpEx $M USD 3,911
Freight costs $M USD 10.5
G&A costs $M USD 300.4
Total OpEx $M USD  ......  Subscription required
Total Taxes $M USD  ......  Subscription required
Royalty payments $M USD  ......  Subscription required
Gross revenue (LOM) $M USD  ......  Subscription required
Operating margin (LOM) $M USD  ......  Subscription required
Pre-tax Cash Flow (LOM) $M USD  ......  Subscription required
After-tax Cash Flow (LOM) $M USD  ......  Subscription required
Pre-tax NPV @ 8% $M USD  ......  Subscription required
After-tax NPV @ 8% $M USD  ......  Subscription required
Pre-tax IRR, %  ......  Subscription required
After-tax IRR, %  ......  Subscription required
Pre-tax payback period, years  ......  Subscription required
After-tax payback period, years  ......  Subscription required
Subscription required - Subscription is required.


Proposed Heavy Mobile Equipment as of June 28, 2022:
HME TypeModelSizeQuantityLeased or
Contractor
ANFO Loader ....................... Subscription required Leased
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Subscription required - Subscription is required.

Mine Management:

Job TitleNameProfileRef. Date
....................... Subscription required ....................... Subscription required Subscription required Jul 7, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 28, 2022
....................... Subscription required ....................... Subscription required Subscription required Jun 28, 2022
Subscription required - Subscription is required.

Staff:

Total WorkforceYear
Subscription required 2022

Corporate Filings & Presentations:

DocumentYear
Corporate Presentation 2022
Feasibility Study Report 2022
................................... Subscription required 2019
Subscription required - Subscription is required.

News:

NewsDate
NioCorp Announces Finalized Financing Agreements with Yorkville Advisors Global, LP January 26, 2023

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