Quantum Rare Earth reveals results for final two holes of Elk Creek exploration program

Quantum Rare Earth Developments Corp. (CVE:QRE)(OTCQX: QREDF) announced Tuesday the results from the remaining two drill holes of its spring/summer exploration program at its Elk Creek project in southern Nebraska, with both holes hitting high grade mineralization east of the property's Niobium deposit.
Results were finalized for holes NEC11-004, located roughly 2.5 kilometres east of the Niobium deposit, and NEC11-005, located around one kilometre east-northeast of the deposit at the company's niobium-rare earth element project.
The in-fill and step-out drill campaign was designed to upgrade the resource estimate to the indicated category, to expand the known niobium resource, and to collect samples for development studies of niobium ore from the property.
Hole NEC11-004 intersected 236.19 metres of 2.10% total rare earth oxides (TREO), including 68.18 metres of 3.32% TREO, while hole NEC11-005 returned 433.97 metres of 0.92% TREO, including 164.85 metres of 1.21% TREO.
Step out drill hole NEC11-004 was drilled to a depth of 465.73 metres in the area of the Eastern rare earth element anomaly, and was drilled in the direction of historic hole EC-93, which returned 155.5 metres of 2.70% TREO, including 54.9 m of 3.30% TREO, the company said.
The latest step out hole shows the potential for a sizeable deposit, as well as for a high-grade core, with ten individual assays returning greater than 4.0% TREO within the 68.18 metre high grade rare earth element interval.
Drill Hole NEC11-005 was drilled to a depth of 636.42 metres, and was designed to test a unique aero-magnetic anomaly, collared 470 metres to the west of, and drilled in the direction of historic hole EC-17, which intersected 64.0 metres of 1.19% TREO.
"The results herein indicate a large interval of moderate REE enrichment," the company concluded in a statement.
The current inferred resource estimate reveals over 80 million tonnes, with a grading of 0.62% niobium pentoxide, just under 500 million kilograms of niobium.
The company said that recent assay results were given to Wardrop, a Tetra Tech Company, to include into the current geologic model for Elk Creek.