| Elk Creek Niobium & Rare Earth Project, Nebraska, USA
Quantum Rare Earth Developments Corp. acquired the Elk Creek Carbonatite -- a former Molycorp project -- on May 4, 2010. The Elk Creek deposit is one of the largest known carbonatites in North America.
Elk Creek Highlights
- 80.1 million tonnes at 0.62% Nb2O5 (niobium), with the deposit open in 3 directions - NI 43-101 compliant
- 500 million kgs of niobium (1.1 billion lbs) - March 31, 2011
- Potentially one of the "largest global resources of niobium and rare-earth elements", according to USGS
- 50,000 feet of historical drill core from 113 holes drilled by Molycorp in the 1970s and 80s
- August 2011, Quantum released 3 holes that were the first holes to be drilled across the deposit – highlights - 131 m of Nb2O5
- Substantial historic TREO intercepts, including 54.9m of 3.30%, contained in 155 m of 2.70%
- In September 2011, Quantum released 2 rare earth holes 2.5 km away from the main niobium zone – highlights - 68.18 m of 3.32% TREO
Peer Comparison with IAMGOLD's Niobec Niobium Mine
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Niobec (IAMGOLD)
Producing Mine in Quebec
- 2010 Profit $79.4 million -
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Elk Creek (Quantum)
Project in Nebraska
- Development Phase -
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Nb2O5
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45.7 Million Tonnes (M & I) 1
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80.1 Million Tonnes (Inferred) 2
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Nb2O5 Grade
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0.53%
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0.62%
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Contained Nb2O5
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242,000,000 kgs
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493,000,000 kgs
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Host Rock
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Pyrochlore
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Pyrochlore
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Host Setting
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4 km Carbonatite
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7 km Carbonatite
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Mining Operations
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Underground
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Will be underground
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1 Reported Dec 31, 2010
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2 Reported April 28, 2011
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Location
The Elk Creek Carbonatite, located in southeastern Nebraska an hour south of Lincoln. The Elk Creek an oval-shaped magnetic and gravity anomaly approximately 7 kms in diameter, making it one of the largest known carbonatite complexes.
(Light green indicates niobium zones, with the core deposit area circled in red. Purple indicates REE zones.)
Main Niobium Zone Drill Hole Intercepts from Re-Sampling Program on Historic Core from the Elk Creek Project
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Drillhole
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From (meters)
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To (meters)
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Interval (meters)
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Nb2O5%1
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(meters)
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EC-11
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243.8
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384.0
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140.2
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0.64
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|
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Including
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300.2
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324.6
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24.4
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1.19
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|
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EC-11
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501.4
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768.1
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266.7
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0.71
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41.1
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Including
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696.5
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768.1
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71.6
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1.19
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|
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EC-14
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378.0
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707.1
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329.2
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0.57
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57.9
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Including
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378.0
|
445.0
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67.1
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0.71
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|
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621.8
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676.7
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54.9
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0.73
|
|
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EC-16
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362.7
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774.2
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411.5
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0.64
|
15.2
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Including
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551.7
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682.8
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131.1
|
0.74
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|
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707.1
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774.2
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67.1
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0.91
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|
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EC-26
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429.8
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688.8
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259.1
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0.77
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3.0
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Including
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554.7
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597.4
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42.7
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1.10
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|
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615.7
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688.8
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73.2
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0.95
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|
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EC-27
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362.7
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411.5
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48.8
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0.57
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3.0
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EC-28
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198.1
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769.6
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571.5
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0.68
|
|
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Including
|
262.1
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317.0
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54.9
|
0.72
|
|
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442.0
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612.6
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170.7
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0.86
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|
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EC-29
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298.7
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499.9
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201.2
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0.99
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3.0
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Including
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396.2
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472.4
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76.2
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1.27
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|
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EC-30
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213.4
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362.7
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149.4
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0.65
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17.4
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Including
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317.0
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353.6
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36.6
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1.12
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|
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EC-30
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509.0
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688.8
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179.8
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0.60
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|
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Including
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661.4
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685.8
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24.4
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0.95
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EC-31
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216.4
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268.2
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51.8
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0.79
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|
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EC-32
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198.7
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222.5
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23.8
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0.67
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|
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EC-32
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576.1
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603.5
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27.4
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0.70
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1Nb2O5 by ALS Chemex of North Vancouver
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The NI 43-101 report is available for public viewing on SEDAR as of May, 2011.
The map below shows Quantum's 2011 drill holes in red and the proximity of the main niobium zone to the main rare earth zone marked by NEC11-004
Drill Hole NEC11-001 from Summer 2001 Drilling of Niobium Zone
Rare Earth Highlights
3 Main Rare Earth Zones Identified. Quantum Drilled 2 holes in the Eastern Anomaly, Summer 2011.
- NEC11-004: 236.19 meters of 2.10% TREO - Sept 2011
--- Including 68.18 m of 3.32% TREO
Eastern Anomaly – located approximately 2.5 kilometers east of the central Niobium deposit
- EC-93: 155.5m @ 2.70% TREO
--- Including 54.9 m @ 3.30% TREO
- EC-55: 211.8 m @ 1.12% TREO
- EC-43: 134.1 m @ 1.22% TREO
--- Including 22.9m @ 2.35% TREO
--- Including 6.1m @ 5.07% TREO
Western REE Anomaly – located approximately 1,000 metres northwest of the central niobium deposit.
- EC-4: 15.2m @ 1.14% TREO
- EC-41: 112.8 m @ 1.13% TREO
Central REE Anomaly – located directly adjacent to and up to 1.6 kilometres northeast of the central niobium deposit.
- EC-17: 64.0m @ 1.19% TREO
--- Including 24.4m @ 1.97% TREO
- EC-19: 50.3 m @ 1.09% TREO
- EC-21: 21.0 m @ 1.60% TREO
- EC-48: 67.1 m @ 1.26%
*Total Rare Earth Oxides (TREO) include: La2O3, Ce2O3, Pr2O3, Nd2O3, Sm2O3, Eu2O3, Gd2O3, Tb2O3, Dy2O3, Ho2O3, Er2O3, Tm2O3, Yb2O3, Lu2O3 and Y2O3. The result of the sampling to date has identified mostly Light Rare Earth Oxides (LREO) mineralization, in order of abundance: La2O3, Ce2O3, Nd2O3, Pr2O3, and Sm2O3.
Elk Creek Image Gallery
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