URU Metals Limited Significant PGE Drill Results at Zebediela (6948Q)
September 14 2017 - 1:01AM
UK Regulatory
TIDMURU
RNS Number : 6948Q
URU Metals Limited
14 September 2017
URU Metals Limited
("URU Metals" or "the Company")
Significant PGE Drill Results at Zebediela
2 g/t Platinum Group Elements (PGE) over 9 m in latest drill
hole
URU Metals is pleased to announce two significant intersections
of platinum group elements (PGE) in diamond drill hole Z019 on the
Zebediela Project, located in Limpopo, South Africa.
-- The first intersection returned a combined average grade of
1.97 g/t for platinum (Pt), palladium (Pd), rhodium (Rh) and gold
(Au) (3 PGE & Au) over 9 m from a depth of 133 m (see Table 1
for further detail). A second intersection returned a combined
average grade of 1.6 g/t 3 PGE & Au over 1.8 m from a depth of
169 m (see Table 2 for further detail).
-- A total of three drill holes (Z017, Z018 and Z019) have now
been completed in the current drill programme at Zebediela. Nickel
and copper assays remain outstanding for all three holes, and the
first of these, together with the results of the metallurgical
testwork from the first drill hole Z017, are expected to be
received shortly and all outstanding assay results will be reported
thereafter.
John Zorbas, CEO of URU Metals, commented:
"We are delighted in that this drill hole returned two
significant PGE intersections. While this drill programme was
expected to focus on collecting samples of the nickel and magnetite
mineralisation for metallurgical testing, the discovery of PGE
mineralisation is not completely unexpected as the Project is
located in a major PGE producing area. It is only 10 km away from
Ivanhoe Mines' Platreef Project, and about 20 km away from Anglo
American's Mogalakwena mine, which is the world's largest open pit
platinum operation. The PGE mineralisation at Zebediela is found in
magmatic rocks of similar age and proximally related to the rocks
that host the Platreef mineralisation mined at Mogalakwena. The
discovery of PGE minerals at Zebediela gives us another target for
further work as we continue to advance the Zebediela Project."
This announcement contains inside information.
END
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
Northland Capital Partners Limited
(Nominated Adviser and Joint Broker)
Edward Hutton / Matthew Johnson + 44 (0) 203 861 6625
Beaufort Securities Limited
(Joint Broker)
Jonathan Belliss + 44 (0) 207 382 8300
SVS Securities Plc
(Joint Broker)
Tom Curran +44 (0) 203 700 0093
APPENDIX
Table 1
First PGE intersection in hole Z019
Depth Depth Sample
From To Interval
Sample Number (m) (m) (m) Au Pt Pd Rh 3PGE+Au*
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6079 133.00 134.00 1.00 0.10 0.60 1.31 0.08 2.09
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6081 134.00 135.00 1.00 0.10 0.55 1.60 0.10 2.35
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6082 135.00 136.00 1.00 0.05 0.41 1.03 0.07 1.56
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6083 136.00 137.00 1.00 0.05 0.46 0.71 0.04 1.26
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6084 137.00 138.00 1.00 0.06 0.78 1.19 0.09 2.12
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6085 138.00 139.00 1.00 0.06 0.54 1.09 0.06 1.75
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6086 139.00 140.00 1.00 0.07 0.89 1.32 0.09 2.37
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6087 140.00 141.00 1.00 0.05 0.64 1.32 0.09 2.10
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
FT6088 141.00 142.00 1.00 0.06 0.57 1.37 0.09 2.09
--------------- ------- ------- ---------- ----- ----- ----- ----- ---------
*3PGE+Au equals Pt+Pd+Rh+Au
This intersection equates to a depth of 112 m below surface. The
drill hole was drilled at an inclination of 57.5deg below the
horizontal, approximately perpendicular to the dip of the
lithologies hosting the mineralisation.
Table 2
Second PGE intersection in hole Z019
Depth Depth Sample
From To Interval
Sample Number (m) (m) (m) Au Pt Pd Rh 3PGE+Au*
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6118 169.00 169.20 0.20 0.06 0.62 0.98 0.14 1.80
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6119 169.20 169.40 0.20 0.07 1.82 1.36 0.23 3.48
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6121 169.40 169.60 0.20 0.04 0.36 0.68 0.05 1.13
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6122 169.60 169.80 0.20 0.03 0.44 0.60 0.04 1.11
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6123 169.80 170.12 0.32 0.03 0.21 0.42 0.02 0.68
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6124 170.12 170.35 0.23 <0.01 0.08 0.09 <0.01 0.17
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6125 170.35 170.60 0.25 0.02 0.33 1.80 0.98 3.13
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
FT6126 170.60 170.80 0.20 0.05 0.70 0.47 0.08 1.30
--------------- ------- ------- ---------- ------ ----- ----- ------ ---------
*3PGE+Au equals Pt+Pd+Rh+Au
This intersection equates to a depth of 143 m below surface. The
drill hole was drilled at an inclination of 57.5deg below the
horizontal, approximately perpendicular to the dip of the
lithologies hosting the mineralisation.
Note
The information in this release has been compiled and reviewed
by Richard Montjoie, the Exploration Manager for the Zebediela
Project. Mr Montjoie holds a B.Sc. Honours in Geology from the
University of Witwatersrand, South Africa, and is fellow of the
Geological Society of South Africa (GSSA) and a member for the
Society of Economic Geologists, and a registered member of the
South African Council for Natural Scientific Professions (SACNASP).
He has over 14 years' experience in mineral project development
globally. Richard has been involved in several exploration programs
in South Africa and Northern Canada, including various Ni-PGE,
diamond, coal, coal bed methane and gold exploration and mining
projects. Richard provides sound geoscientific input in development
planning to ensure effective data acquisition, management and
project execution. Richard successfully acted as Project Manager
for a 39 Moz platinum feasibility study, advancing the project from
exploration stage to a completed bankable feasibility study with
proven and probable reserves, on time and under budget, managing
all aspects of the programme, from exploration programme design to
various licencing applications. Richard is a Competent Person as
defined in the AIM Note for Mining, Oil and Gas Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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