TIDMURU
RNS Number : 9231Z
URU Metals Limited
19 September 2022
19 September 2022
URU Metals Limited
("URU")
Drilling results from ZEB Nickel Corp
URU announces that ZEB Nickel Corp. has today announced a new
gold zone discovery on its Zeb Project, located in Limpopo, South
Africa (the "Project") .
URU successfully completed the disposal of the Project to ZEB
Nickel Corp. in August 2021 and the Project remains the primary
focus of URU, through its 74.82% interest in Zeb Nickel Corp. and
URU's continuing role as the technical adviser on the Project.
The ZBNI announcement is as follows:
Gold mineralization identified at Zeb Nickel Project
significantly extends area of interest for potential gold
resources
Highlights:
-- Historical hole drilled by Falconbridge, UIT01-5 and Zeb
Nickel hole, Z026, both intersected anomalously high gold
mineralization in the northern portion of the Project Area.
-- UIT01-5 intersected 2.45 g/t Au over 1 m from a depth of 93 m
to 94 m down the hole, and 0.82 g/t Au over 1 m from a depth of 97
m to 98 m down the hole.
-- Hole Z026 intersected 0.68 g/t Au over 1.83 m from a depth of
221.41 m to 223.20, and 1.36 g/t Au over 1.50 m from a depth of
250.50 m to 252m. [1]
-- Hole Z029 intersected 9.05 g/t Au over 28.32 m, including
12.21 g/t Au over 10.86 m and including 11.25 g/t Au over 10.64 m.
[2]
-- Hole Z027 intersected 1.67 g/t Au over 33.81 m, including 5.07 g/t Au over 4.81 m. [3]
-- This means that gold mineralization is present over large
parts of the Project area, and the Project now holds significant
potential for both Ni-Cu-PGE and gold mineralization, which we plan
on expanding with further exploration drilling.
Vancouver, BC, September 19(th) , 2022 - ZEB Nickel Corp.
(ZBNI:TSX-V) (OTC:ZBNIF) ("Zeb" or the "Company") is pleased to
announce that an analysis of reports detailing historical drilling
on the Zebediela Project ('the Project") has revealed the presence
of anomalously high gold mineralization in hole UIT01-5, as
referenced in the Project's NI 43-101 report, available on the
Company's website. This hole is located about 530 m north of hole
Z026, which also contained anomalously high gold mineralization.
The nickel-PGE results of Z026 were reported in a news release on
March 15, 2022. Drillhole UIT01-5 intersected 2.45 g/t Au over 1 m
from a depth of 93 m to 94 m down the hole, and 0.82 g/t Au over 1
m from a depth of 97 m to 98 m down the hole. Drillhole Z026
intersected 0.68 g/t Au over 1.83 m from a depth of 221.41 m to
223.20, and 1.36 g/t Au over 1.50 m from a depth of 250.50 m to
252m. There is no drilling between UIT01-5 and Z026.
These two holes are located more than 2 km to the northwest of
drillholes Z027 and Z029, the results of which were reported in a
news release on April 12, 2022.
Gold mineralization on the Project is almost certainly related
to gold mineralization which occurs on the Pietersburg Greenstone
Belt, which hosts the historical Eersteling Gold Mine.
Figure 1: Map showing the target zones of gold mineralization in
yellow, based on intersections from Z027 and Z029 in the south, and
UIT01-5 and Z026 in the north, with the approximate location of
Strike Section A - B as shown in Figure 2 below.
Figure 2: Southeast - northwest strike section along line A - B
as shown in Figure 1, showing the location of the gold
mineralization in relation to the nickel and nickel-copper-PGE
mineralization.
The presence of gold mineralization on both the northern and
southern portions of the Project area means that the gold
mineralization is a lot more prevalent than initially thought; and
improves the chances of the Project hosting an economic gold
deposit that may be independent of the known nickel and platinum
group element mineralization as documented in the Company's
NI43-101, available on the Company's website.
Wayne Isaacs, Chief Executive Officer and Director of Zeb
Nickel, commented "The presence of significant gold values found in
drill core on the northern part of the Project area is especially
significant when combined with the fantastic gold discovery in
drillholes Z027 and Z029, located more than 2 km to the southeast.
This means that a considerable portion of the project area is
generally enriched in gold mineralization.
The spacing between the drillholes bearing gold is around 450 m
in the south and over 800 m in the north, with no drilling between
these intersections. As a consequence, the potential for further
significant gold intersections by drilling in and around these gold
bearing zones is enormous. The location of these gold bearing zones
in close proximity to the nickel-copper-PGE bearing Critical Zone
rocks means that drilling will coincidently test for both gold
mineralization and nickel-copper-PGE mineralization once Critical
Zone rocks are intersected.
The Company's technical team are currently finalising the
proposed locations of the next phase of drilling, and we look
forward to commencing the next phase of exploration to advance the
Project and simultaneously provide more confidence in Targets 1,
the historical nickel resource, Target 2, the nickel-copper-PGE
bearing Critical Zone mineralization and now Target 4, the gold
mineralization".
About the Company and Project
Zeb Nickel Corp is focused on exploring for and developing
world-class mineral deposits, with a focus on metals that are
critical in the production of rechargeable batteries, such as
nickel, graphite, lithium, cobalt, manganese, copper and aluminum.
The Company is currently focused on developing its flagship Zeb
Nickel Project, located in Limpopo, South Africa. The Zeb Nickel
Project is a developing Class 1 nickel sulfide project
strategically located in the Bushveld Complex in South Africa. The
Zeb Project Contains a historical NI 43-101 compliant resource over
3.9 million tons of contained sulfide nickel, ranking it number 8
in the global top ten nickel sulfide resources (Mudd, G. M., &
Jowitt, S. M. (2014). A detailed assessment of global nickel
resource and trends and endowments. Economic Geology, 109(7),
1813-1841).
Qualified Person and Quality Control/Quality Assurance
Richard Montjoie has supervised the preparation of the
scientific and technical information that forms the basis for this
news release and has approved the disclosure herein. Mr. Montjoie
is not independent of the Company. Mr. Montjoie is a registered
member of the South African Council for Natural Scientific
Professions (SACNASP) membership number 400131/09. Mr. Montjoie
holds a M.Sc. Honors in Economic Geology from the University of
Witwatersrand, South Africa, and is fellow of the Geological
Society of South Africa (GSSA).
The analytical work reported on herein was performed by SGS
South Africa Proprietary Limited, based in Randfontein, South
Africa, an internationally recognized analytical services provider.
Samples are analysed for Ni using a nitric acid leach and sodium
peroxide fusion, followed by an ICP-AES finish; and Au, Pt, Pd by
lead fusion followed by an ICP-AES finish; and for Rh using
palladium collection followed by ICP-OES finish.
A full Quality Control and Quality Assurance (QAQC) program was
conducted on all assay results, and all reported assays where
deemed to be acceptable. The program was designed and implemented
by Dr. Matthew McCreesh. Dr. McCreesh is a registered member of the
South African Council for Natural Scientific Professions (SACNASP)
membership number 132928. Dr. McCreesh holds a Ph.D. in Geology
from the University of Witwatersrand, South Africa, and is member
of the Geological Society of South Africa (GSSA).
For further information, please visit
http://www.zebnickel.com
ZBNI announcement ends
Market Abuse Regulation (MAR) Disclosure
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
URU's obligations under Article 17 of MAR.
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 / Harry Davies-Ball + 44 (0) 203 470 0470
[1] Company Press Release dated March 15, 2022
[2] Company Press Release dated April 12, 2022
[3] Company Press Release dated April 12, 2022
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