URU Metals Limited Update from ZEB Nickel Corp (6404W)
19 April 2023 - 2:00PM
UK Regulatory
TIDMURU
RNS Number : 6404W
URU Metals Limited
19 April 2023
19 April 2023
URU Metals Limited
("URU")
Update from ZEB Nickel Corp
URU notifies that ZEB Nickel Corp. has today announced the
commencement of an airborne geophysical survey over the Zeb Project
area by a third party. The data from the geophysical survey should
be received in July 2023.
URU successfully completed the disposal of the Zeb Project,
located in Limpopo, South Africa (the "Project") to ZEB Nickel
Corp. in August 2021 and the Project remains the primary focus of
URU, through its 73.81% interest in Zeb Nickel Corp. and URU's
continuing role as the technical adviser on the Project.
The ZBNI announcement is as follows:
Airborne Geophysical Survey to be Conducted over the Zeb Project
Area
Vancouver, BC, April 19, 2023 - ZEB Nickel Corp. (ZBNI:TSX-V)
(OTC:ZBNIF) ("Zeb" or the "Company") is pleased to announce that an
airborne geophysical survey is being conducted over the Zeb Project
area by a third party. The data from the geophysical survey should
be received in July 2023.
Once received, the Company will be processing the data to better
understand the geology and geological structure of the Zeb Project
area, the distribution of known nickel (Ni) and
nickel-copper-platinum group element (Ni-Cu-PGE) mineralization and
identify any potential new targets that may host nickel
mineralization.
Previous holes drilled at the Zeb Project has revealed
higher-grade sulfide nickel zones (1.67% over 2.25 m) and Ni-Cu-PGE
mineralized zones at the base of the historical nickel resource
estimate. The location of these mineralized zones will be
correlated with the results from the geophysical survey, allowing
for the identification of targets that may contain similar styles
of mineralization.
Richard Montjoie, interim CEO of Zeb Nickel, commented: "The
acquisition of this geophysical data will allow us to further
advance our geological understanding of the Project area,
particularly with regards to identifying extensions of known
high-grade Ni and Ni-PGE mineralization, as well as our
understanding of the geological structure, which always has a
strong control on Ni-PGE mineralization. By combining this new data
with our existing drill results, we will hopefully be able to
target higher grade Ni-Cu-PGE mineralization in upcoming drill
campaigns, allowing us to rapidly delineate a higher-grade Ni
resource."
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).
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
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