URU Metals has announced the successful conclusion of its recent three-hole drilling programme on the Zebediela Project, located in Limpopo, South Africa, which it said exceeded all expectations.
- proved continuity of mineralisation between existing drill holes on the 0.25% nickel mineral resource estimate, which will contribute towards moving the resource from an Indicated Category to a Measured Resource category;
- intercepted PGE mineralisation on the property; and
- obtained fresh material for nickel leach test work. The programme exceeded expectations by:
- proving excellent continuity of mineralisation within the nickel mineral resource estimate in drill holes Z017 and Z018, which achieved 0.23% total Ni over 323 m (Z017) and 0.20% Ni over 160 m (Z018), consistent with previous drilling;
- intersecting 2 g/t 3PGE+Au over 9m and 1.6 g/t 3 PGE & Au over 1.8 m (Z019); and
- intersecting 1.66% Ni and 0.62% Cu over 2.25m in previously unidentified mineralisation in the footwall (Z017) to the nickel mineral resource estimate. On the back of these results, further drilling will commence within the first week of November in order to trace the extent of the PGE mineralisation obtained in drill hole Z019.
John Zorbas, CEO of URU Metals, commented:
"We are delighted by the resent results delivered from ongoing drilling at Zebediela. I am grateful to our team for the industrious nature in which they have worked, by not only proving the continuity of the nickel mineralisation from the existing nickel mineral resource estimate but additionally discovering semi-massive sulfides in the footwall to the mineral resource estimate.
"Our initial work program has shown the Project to contain significant copper, nickel, and PGE content. We have also identified a substantial intersection containing PGE mineralisation with base metal credits above those typically obtained on the Platreef. As a team, we are thrilled by these result and excited at the future prospects as we now begin tracing the extent of mineralisation, where we intend to demonstrate additional value to the resource."
At 2:18pm: (LON:URU) URU Metals Ltd share price was -0.2p at 1.33p