NioCorp Achieves Positive Results in Metallurgical Testing of Possible Rare Earth Production at its Elk Creek, Nebraska Project
CENTENNIAL, Colo., Jan. 3, 2022
CENTENNIAL, Colo., Jan. 3, 2022 /PRNewswire/ — (“NioCorp” or the “Company“) ( ;OTCQX: NIOBF) is pleased to announce positive results from its ongoing metallurgical work regarding the process to extract rare earth elements from ore samples sourced at its Elk Creek Project (the “Project”).
Salt Lake City-based L3 Process Development (“L3”) has been conducting small scale testing for NioCorp on rare earth recovery and flowsheet improvement and is also building an integrated demonstration plant at its facility in the province of Quebec. To date, L3 has completed several dozen individual tests using portions of a three-tonne representative sample of ore collected from the Elk Creek Project drill core inventory.
Recent efforts by L3 have focused on potential rare earths recovery, including the extraction of rare earth values from the high acidity streams characteristic of those found in the existing Elk Creek niobium / scandium / titanium process flowsheet.
In a recent development, L3 has demonstrated that Scandium can be effectively extracted and separated from the rare earth elements in solution using a phosphate-based extractant. With additional work, this phosphate-based recovery process could be shown capable of replacing the phosphoric acid-based extraction process that is part of the current Project design.
L3 has further demonstrated that the rare earth elements (lanthanum through lutetium, including the magnetic rare earths neodymium, praseodymium, dysprosium, and terbium) can be selectively extracted and separated from the leach solution using an amide-based extractant.
“The data from this most recent solvent extraction testwork is very encouraging,” said Tommee Larochelle, Ing. PE, MBA, Chief Technology Officer, L3 Process Development. “Both the phosphate and amide-based extraction testing have performed exactly to plan, and I look forward to continuing our efforts to verify this a cost-effective way to produce commercial rare earth products from the Elk Creek flowsheet.”
Additional testing is planned at L3’s laboratory to further verify and optimize a rare earth recovery operation for the Elk Creek project as well as establishing metallurgical performance and recovery data for three prospective rare earth products: neodymium/praseodymium oxide, dysprosium oxide, and terbium oxide.
L3 is now in the process of constructing a small-scale integrated demonstration plant at its Quebec facility, which will address hydrometallurgical recommendations from the Company’s 2019 Feasibility Study as well as demonstrating potential rare earth recovery operations.
“We are extremely pleased with the progress that L3 has made to date and we look forward to continuing our collaboration with them with the goal of adding additional value from the potential rare earths to the Elk Creek Project’s economics,” said Scott Honan, NioCorp’s Chief Operating Officer.
The information contained in this press release does not change any of the mineral resource or mineral reserve estimates contained in NioCorp’s April 16, 2019, NI 43-101 Technical Report, Feasibility Study, Elk Creek Superalloy Materials Project, Nebraska. There has been insufficient work to define a mineral resource with respect to rare earth data and it is uncertain if further work will result in rare earth data being delineated as a mineral resource.
Eric Larochelle, B.Eng., Hydrometallurgy Specialist (L3 Process Development), a Qualified Person as defined by National Instrument 43-101 has read and approved the technical information contained in this news release and verified the data disclosed in this news release.
@NioCorp $NB.TO $NIOBF #Niobium #Scandium #ElkCreek #rareearth #neodymium #terbium #dysprosium
For More Information
Contact Jim Sims, VP of External Affairs, , +1 (303) 503-6203, [email protected]
NioCorp is developing a superalloy materials project in Southeast Nebraska that will produce Niobium, Scandium, and Titanium. The Company also is evaluating the potential to produce several rare earth byproducts from the Project. Niobium is used to produce superalloys as well as High Strength, Low Alloy (“HSLA”) steel, which is a lighter, stronger steel used in automotive, structural, and pipeline applications. Scandium is a superalloy material that can be combined with Aluminum to make alloys with increased strength and improved corrosion resistance. Scandium is also a critical component of advanced solid oxide fuel cells. Titanium is used in various superalloys and is a key component of pigments used in paper, paint and plastics and is also used for aerospace applications, armor, and medical implants. Magnetic rare earths, such as Neodymium, Praseodymium, Terbium, and Dysprosium are critical to the making of Neodymium-Iron-Boron (“NdFeB”) magnets, which are used across a wide variety of defense and civilian applications.
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this document may constitute forward-looking statements, including but not limited to statements related to the Company’s ability to produce Niobium, Scandium, Titanium and rare earths products at the Elk Creek Superalloy Materials Project, the outcome of current metallurgical testing of a phosphate-based recovery process, and the Company’s expectation that a phosphate-based recovery process could lead to greater efficiencies and cost savings in the Project. Such forward-looking statements are based on estimates and assumptions made by the Company in light of its experience and its perception of historical trends, current conditions and expected future developments, as well as other factors that the Company believes are appropriate in the circumstances. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such forward-looking statements and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause NioCorp’s plans or prospects to change include risks related to NioCorp’s ability to operate as a going concern; risks related to NioCorp’s requirement of significant additional capital; changes in demand for and price of commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of NioCorp’s projects; risks of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of mineral exploration and development, including the risks of diminishing quantities of grades of reserves and resources; the risks involved in the exploration, development and mining business, and the risks set forth in the Company’s filings with Canadian securities regulators at www.sedar.com and the SEC at www.sec.gov. NioCorp disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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Award of Stock Options
TORONTO, ON / ACCESSWIRE / January 20, 2022 / AEX Gold Inc. (AIM:AEXG)(TSXV:AEX), an independent gold company with a portfolio of exploration licences…
TORONTO, ON / ACCESSWIRE / January 20, 2022 /(AIM:AEXG)( ), an independent gold company with a portfolio of exploration licences in Greenland, announces that it has granted incentive stock option awards (“Options”) to employees and a consultant of AEX to acquire an aggregate of 4,100,000 common shares under the Company’s Stock Option Plan at $0.60 per share with an expiry date of January 17, 2027. Of these, 1,100,000 were awarded to Eldur Olafsson and 900,000 were awarded to Jaco Crouse.
DEALING NOTIFICATION FORM
FOR USE BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITY
AND THEIR CLOSELY ASSOCIATED PERSONS
|1.||Details of the person discharging managerial responsibilities/person closely associated|
|2.||Reason for the notification|
(i)Chief Executive Officer and Director
(ii)Chief Financial Officer and Director
|b)||Initial notification/Amendment||Initial notification|
|3.||Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor|
|a)||Name||AEX Gold Inc|
|4.||Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted|
Description of the financial instrument, type of instrument:
Common shares of no par value in
|b)||Nature of the transaction:||Grant of Options|
|c)||Price(s) and volume(s):||
|e)||Date of the transaction(s):||17 January 2022|
|f)||Place of the transaction||XOFF|
Eldur Olafsson, Director and CEO
+354 665 2003
Eddie Wyvill, Investor Relations
+44 (0) 7713 126727
Stifel Nicolaus Europe Limited (Nominated Adviser and Broker)
+44 (0) 20 7710 7600
Panmure Gordon (UK) Limited (Joint Broker)
+44 (0) 20 7886 2500
Camarco (Financial PR)
+44 (0) 20 3757 4980
For Company updates:
Follow @AexGold on Twitter
AEX’s principal business objectives are the identification, acquisition, exploration and development of gold properties in Greenland. The Corporation’s principal asset is a 100% interest in the Nalunaq Project, an advanced exploration stage property with an exploitation license including the previously operating Nalunaq gold mine. The Corporation has a portfolio of gold assets covering 4,090km2, the largest portfolio of gold assets in Southern Greenland covering the two known gold belts in the region. AEX is incorporated under the Canada Business Corporations Act and wholly owns Nalunaq A/S, incorporated under the Greenland Public Companies Act.
This press release contains forward-looking information within the meaning of applicable securities legislation, which reflects the Corporation’s current expectations regarding future events and the future growth of the Corporation’s business. In this press release there is forward-looking information based on a number of assumptions and subject to a number of risks and uncertainties, many of which are beyond the Corporation’s control, that could cause actual results and events to differ materially from those that are disclosed in or implied by such forward-looking information. Such risks and uncertainties include, but are not limited to the factors discussed under “Risk Factors” in the Final Prospectus available under the Corporation’s profile on SEDAR at www.sedar.com. Any forward-looking information included in this press release is based only on information currently available to the Corporation and speaks only as of the date on which it is made. Except as required by applicable securities laws, the Corporation assumes no obligation to update or revise any forward-looking information to reflect new circumstances or events. No securities regulatory authority has either approved or disapproved of the contents of this press release. Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This announcement does not contain inside information
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Blue Lagoon Announces Results Of 2021 Soils Sampling Program – Identifies New Zones For Priority Follow Up In 2022
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the…
VANCOUVER, BC / ACCESSWIRE / January 20, 2022 /(the “Company“) ( ) (FSE:7BL) (OTCQB:BLAGF) is pleased to announce the results from its 2021 soil sampling program completed on its Dome Mountain Gold Project – an all-year-round accessible property located a short 50-minute drive from Smithers, BC.
The Company’s 2021 soil sampling program has resulted in identification of strong anomalous gold, zinc, and copper-in-soils zones in a number of new zones which warrant follow-up during the Company’s 2022 exploration program.
“The soil sampling program was remarkably successful in that we identified multiple gold-in-soils anomalies as well as strong multi-element associations with the gold. The more anomalous elements (Zn, Cu, As, Mo, Pb etc.) that we see associated with gold, the higher degree of confidence we have of an underlying mineralized system thus, allowing us to immediately prioritize our follow-up program.”, said Bill Cronk, Chief Geologist for Blue Lagoon Resources. “A highly anomalous zinc zone to the northwest of Freegold is especially of interest as values here are very high and dwarf the zinc values seen in soils associated with the known Boulder Vein system where gold in the current resource has a very close correlation with elevated zinc values in core.”
A total of 4216 soils have been collected on the Dome Mountain property since 2020, of which 3167 samples were collected in 2021 (Figure 1).
Anomalous pathfinder elements associated with gold-in-soil anomalies at Freegold (including antimony, copper, molybdenum, zinc, lead, mercury, bismuth, uranium and silver) were drilled in the first part of the 2021 Phase 2 program and high-grade gold was intersected as expected (see press release December 7, 2021). Additional drilling at Freegold is currently on hold awaiting completion of ground based Deep IP and CSAMT, expected to be completed by the middle of February 2022.
Anomalous pathfinder elements associated with the high gold values at Boulder Vein include antimony, zinc, lead, and silver. Noranda first drilled the Boulder Vein system at Dome Mountain in 1985 based on zinc-in-soil anomalies. After more than 40,000 meters of core drilling on the Boulder Vein, Zinc is considered the premier pathfinder element at Dome Mountain.
Figure 1 Map showing soil samples collected on the Dome Mountain Project showing samples collected in 2020 (black) and samples collected in 2021 (Yellow).
Figure 2 shows multi-element results for soils collected northwest of the Freegold Showing and along a strong northwest trending mag anomaly. Soil lines are spaced at 400 meters apart and samples collected along the line at 25 or 50 meters spacing. The zinc anomaly is the largest on the property to date with gold and contains anomalous pathfinder elements including copper, molybdenum, arsenic and antimony. Once snow free conditions are met in 2022, this target will be followed up with infill soils and prospecting to advance to the drill target stage.
Figure 2 Map highlighting anomalous zones to the northwest of Freegold. Highest zinc values in soils on the property up to 5610 ppm. 15ppb Au and greater is in the 95th percentile of anomalous values.
Figure 3 shows soils results to the southwest part of the project area. Strong gold in soils have been found and anomalous pathfinder elements associated with the targets (molybdenum, copper, arsenic and antimony) highlight areas for further work to develop near term drill targets.
The planned 2022 soil sampling program will build on the Company’s previous programs and will continue in early summer with a minimum of 2500 samples expected to be collected as the follow-up to the 2020-2021 program and as a first pass exploration on portions of the land package which has yet to be explored.
QUALITY ASSURANCE AND CONTROL
The Company submitted 3167 soil samples for analysis which were collected on the Dome Mountain Gold Project in late 2021. 329 of these samples were QAQC samples inserted into the sample stream to maintain a 10% QAQC program consisting of standards, blanks and field duplicates. Sample lines selected for the survey were based on known locations of underlying gold mineralization and/or based on structural interpretations based on the 2020 airborne survey.
Soil samples were collected using two-man teams equipped with Geotool and shovel. Samples were collected from the B-horizon at a depth ranging from 10 cm to 90 cm. Average depth of sample collected was 32 cm. Sample spacing along the lines varied from 25 meters to 50 meters depending upon location and target with line spacing varying from 200 meters to 400 meters.
Sample data collected at the sample locations included UTM location, depth of sample, color, moisture content, texture (sand, silt, clay), and percentage, angularity and lithology of pebbles and or cobbles. Samples collected amounted to approximately 1 kilogram of material and placed in a white soil sample bag. Wet samples were additionally placed into a 1000 ml plastic zip loc bags to prevent contamination. At the end of the day all samples were placed inside the Company’s shop facility on a rack and allowed to dry for at least one week before shipping to ALS in North Vancouver, BC. Samples remained in secure storage until shipped to Vancouver.
Sample preparation at ALS utilized Prep 41 method (dry and sieve to -80 mesh) and followed up analysis for gold by method Au-AA24 (by fire assay) and 48-elements by method ME-MS61, (four acid digestion with ICP-MS finish).
The scientific and technical data contained in this news release was approved by William Cronk, P.Geo., a qualified person as defined in NI 43-101 and a consultant to the Company.
Forfurther information, pleasecontact:
President and Chief Executive
Officer Telephone: 604-218-4766
Email: [email protected]
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address events or developments that(the “Company”) expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
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Aston Bay Holdings Announces Extension of Private Placement
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIESTORONTO, ON / ACCESSWIRE / January 20, 2022 / Aston Bay Holdings…
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
TORONTO, ON / ACCESSWIRE / January 20, 2022 /( ; OTCQB:ATBHF) (“Aston Bay” or the “Company”) announces that the Company has been granted an extension by the TSX Venture Exchange (“TSX-V”) to complete the previously announced non-brokered private placement (the “Offering”) of aggregate gross proceeds of up to $2,000,000 by no later than February 11, 2022.
The Offering consists of Units at a price of $0.06 per Unit, as announced in the Company’s news release dated November 29, 2021. Each Unit will consist of one common share of the Company and one full warrant (a “Warrant”) entitling the holder thereof to acquire an additional common share (the “Warrant Share”) at an exercise price of $0.12 per Warrant Share for a period of 24 months from the date of issuance. The Warrants will be subject to acceleration provisions when the volume weighted average trading price is greater than $0.25 for 10 consecutive trading days.
As announced in its news release dated December 21, 2021, the Company closed the first tranche of the Offering, issuing 13,473,500 Units for aggregate gross proceeds of $808,410. There can be no assurances that the Company will be able to complete the Offering. The Offering is subject to the final approval of the TSX-V and all regulatory approvals.
About Aston Bay Holdings
Aston Bay is a publicly traded mineral exploration company exploring for gold and base metal deposits in Virginia, USA, and Nunavut, Canada. The Company is led by CEO Thomas Ullrich with exploration in Virginia directed by the Company’s advisor, Don Taylor, the 2018 Thayer Lindsley Award winner for his discovery of the Taylor Pb-Zn-Ag Deposit in Arizona.
The Company has the exclusive option to lease the mineral rights to over 10,000 acres of prospective private land located in central Virginia. These lands are located within a gold-copper-lead-zinc mineralized belt prospective for mesothermal gold deposits and Virginia gold-pyrite belt deposits, as well as sedimentary exhalative (SEDEX), Broken Hill (BHT) and volcanogenic massive sulfide (VMS) type base metal deposits. Don Taylor, who led the predecessor company to Blue Ridge and assembled the dataset, has joined the Company’s Advisory Board and will be directing the Company’s exploration activities for the Blue Ridge Project. The Company is actively exploring the Mountain Base Metals Project Buckingham Gold Project in Virginia and is in advanced stages of negotiation on other lands in the area.
The Company is also 100% owner of the property Storm Project, which hosts the Storm Copper Project and the Seal Zinc Deposit and has been optioned to American West Metals Limited.
The Company’s public disclosure documents are available on www.sedar.com.
Statements made in this press release, including those regarding the closing and the use of proceeds of the private placement, management objectives, forecasts, estimates, expectations, or predictions of the future may constitute “forward-looking statement”, which can be identified by the use of conditional or future tenses or by the use of such verbs as “believe”, “expect”, “may”, “will”, “should”, “estimate”, “anticipate”, “project”, “plan”, and words of similar import, including variations thereof and negative forms. This press release contains forward-looking statements that reflect, as of the date of this press release, Aston Bay’s expectations, estimates and projections about its operations, the mining industry and the economic environment in which it operates. Statements in this press release that are not supported by historical fact are forward-looking statements, meaning they involve risk, uncertainty and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Although Aston Bay believes that the assumptions inherent in the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which apply only at the time of writing of this press release. Aston Bay disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except to the extent required by securities legislation. We seek safe harbour.
Neither TSX Venture Exchange nor its regulation services provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.
FOR ADDITIONAL INFORMATION CONTACT:
Thomas Ullrich, Chief Executive Officer
SOURCE: Aston Bay Holdings Ltd
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