TIDMURU
RNS Number : 5946L
URU Metals Limited
13 September 2021
13 September 2021
URU Metals Limited
("URU" or "the Company")
Zeb Nickel Corp to commence drilling at the Zebediela Project
("Zebediela" or the "Project")
Focus will be on upgrading of the historical resource and
simultaneous exploration for higher grade footwall nickel sulphide
mineralisation
URU is pleased to announce that ZEB Nickel Corp (TSX-V:ZBNI)
("ZEB") has confirmed it will shortly be commencing geological
exploration drilling at the Zebediela Project, targeting high grade
nickel-sulphide mineralisation to the east of the existing
Zebediela historical nickel-sulphide resource.
To view the full Zeb Nickel Corp announcement visit
www.zebnickel.com or www.sedar.com .
PROJECT HIGHLIGHTS
-- 8(th) largest known sulphide nickel resource globally
-- Located in a major Ni-PGE (nickel-platinum group element)
producing area adjacent to Ivanhoe Mines Platreef Project and along
strike from the world's largest open pit platinum mine, Anglo
American Platinum's Mogalakwena Mining Complex
-- Recent exploration drilling has identified high grade nickel
mineralisation in the footwall to the existing historical
resource
ABOUT THE PROJECT
The Zebediela Project, located in South Africa, contains a
historical resource as follows*:
* Resource Category * Million Tons * Nickel Grade
* 0.256%
* Indicated * 485.4
------------------------------ ------------------------- -------------------------
* 0.248%
* Inferred * 1,115.1
* 0.250%
* Total * 1,600.5
------------------------- -------------------------
*Source: Independent NI 43-101 Technical Report on the Zebediela
Nickel Sulphide Project (March 31, 2021). Report prepared by
Caracle Creek International Consulting Inc. The historical mineral
resource estimates presented above used categories that conformed
to CIM Definition Standards on Mineral Resources and Mineral
Reserves (CIM, 2010) at the time of completion of the estimates, as
outlined in NI 43-101. However, a qualified person has not done
sufficient work to classify any of the historical estimates as
current mineral resources and as such the Company is treating them
as historical resource estimates. Readers are cautioned that the
historical mineral resource estimates do not mean or imply that
economic deposits exist on the Zebediela Project.
A 2011 Preliminary Economic Assessment by MSA Geoservices
demonstrated that the Project has the ability to produce over
500,000 tons of nickel using an open-pit mining method (Croll, R.,
Clarke, B., Hall, M. and Sexton, J. (2012). Preliminary Economic
Assessment for the Zebediela Nickel Project. Report prepared by MSA
Geoservices (Pty) Ltd on behalf of Umnex Minerals Limpopo (Pty)
Ltd).
The historical resource ranks as the 8(th) largest nickel
sulphide resource globally in terms of contained nickel (Mudd, G.M.
and Jowitt, S.M. (2014). A detailed assessment of global nickel
resource trends and endowments. Economic Geology, 109 (7),
1813-1841).
HIGH GRADE NICKEL TARGET
Zeb Nickel Corp has identified a target geological zone directly
east and adjacent to the existing historical resource that has from
historical drilling done in 2017 produced results of 0.56% nickel
("Ni") over an average width of approximately 5m from exploration
drilling, with significant cobalt and PGE credits, resulting in a
nickel equivalent grade of 2,75% nickel.
Drillhole Z017 intersected approximately 1.7% Ni and 0.7 g/t
3PGE+Au over a width of 2.25 m, 20m below the existing historical
resource. Assays were conducted by SGS South Africa, an accredited
laboratory for the analytical methods used being used to report
these results.
A 3,600m diamond exploration drill programme is expected to
commence in September 2021. This drilling programme will target
higher grade nickel sulphide mineralisation recently discovered in
the footwall of the historical estimate, and is expected to enable
the Company to estimate the amount of infill drilling required to
classify the historical resource as a current mineral resource.
The footwall target is estimated to be approximately 5,000
metres in strike length and varies in thickness between 1.8 and
10m, from depths of 30 m below the surface down to depths of
greater than 400 m below surface. This footwall target is thought
to be a similar geological horizon to that being developed at the
adjacent Ivanhoe Mines Platreef Project (Figure 1 and 2). If
successful, this drilling will result in increasing the overall
grade of the project.
LOCATION IN A MAJOR NICKEL-PGE PRODUCING DISTRICT
The Zebediela Project is located on the Northern Limb of the
Bushveld Complex, South Africa, and is in a major nickel and
platinum group element producing area. The project is immediately
adjacent to, and up-dip from, Ivanhoe Mines $1.5 billion Platreef
Project, and about 15 km along strike from Anglo Platinum's
flagship Mogalakwena Mining Complex.
Ivanhoe Mines' Platreef Project contains a total resource of 852
million tons at 0.31% nickel, 0.16% copper and 3.5 g/t 3PGE+Au
(platinum + palladium + rhodium + gold). Information for this
Project is publicly available through Ivanhoe Mines' website and
technical reports filed on SEDAR (
www.ivanhoemines.com/projects/platreef-project/ ).
Anglo American Platinum's Mogalakwena Mining Complex has an
estimated resource of 3.8 billion tons at 0.18% nickel, 0.10%
copper and 2.4 g/t 3PGE+Au, as reported in their publicly available
Annual Resource and Reserve Report on their website,
www.angloamericanplatinum.com .
CEO of URU Metals, Mr John Zorbas, commented: "We are excited to
see that based on URU's previous drill program that Zeb Nickel is
moving forward with the objective of identifying and quantifying
higher grade nickel sulphide and PGE mineralisation in the
footwall. We see the next steps as identifying the extent of the
higher-grade mineralisation, classifying the historical resource as
current, and then updating the PEA which could ultimately translate
into better project economics with reduced project capital
requirements with a higher life of mine head grade, assisted by PGE
by-products."
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat + 44 (0) 203 470 0470
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