NioCorp Developments Ltd. (TSX:NB, OTCQX:NIOBF), the critical metals group, revealed it had reached a key first phase milestone at its demonstration-scale processing plant in Quebec - namely the successful production of high-purity calcium and magnesium carbonates from its Elk Creek project in Nebraska, USA.
This positive result is a milestone in the proposed optimization of its process flow sheet for the firm's project.
Elk Creek is set to produce niobium, scandium, and titanium, while NioCorp is also evaluating the potential to produce several rare earths.
The asset's resource estimate does not currently include calcium or magnesium. However, in light of these results, the company said it now expects to conduct an assessment of adding these two elements.
READ: NioCorp Developments to combine with GX Acquisition to gain funds for Elk Creek project; aims for Nasdaq listing
It also plans to assess the potential salability of the material produced from the demonstration plant, once sufficient project financing is obtained to allow the Elk Creek project to proceed, the company said.
"Phase I demonstration plant operations will continue with calcination and a ramp-up of leaching operations as testwork and assembly of Phase II and Phase III of the demonstration plant's planned operations proceed in parallel," the group told investors.
"The team at L3 has been working very hard to complete Phase I of the demonstration plant and deliver results," said Scott Honan, NioCorp's chief operating officer (COO).
"We look forward to the completion of the remainder of the demonstration plant operations, and most importantly, the rare earth metallurgical performance metrics showing the full potential economic benefits of rare earths for the Elk Creek project."
The process flow sheet for the project was designed by L3 Process Innovation (L3) and NioCorp.
Contact the writer at giles@proactiveinvestors.com