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(KLZA)-- NioCorp has announced plans to initiate a 12-week drilling program at their Elk Creek Project site in Southeast Nebraska in support of an updated feasibility study.
The limited 9-hole drilling campaign is designed to support the conversion of a portion of the current Indicated Resources into Measured Resources and the subsequent conversion of a portion of its current Probabley Mineral Reserves into Proven Mineral Reserves.
The updated study is a necessary part of the due diligence process of the application for debt financing NioCorp is seeking from the U.S. Export-Import Bank.
The NioCorp minerals project is designed to potentially produce critical minerals that China is now threatening to withhold from the U.S. and Western allies.
© Many Signals Communications
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