URU Metals Limited
16 October 2018
URU Metals Limited
(“URU Metals” or “the Company”)
URU is pleased to announce that the ground-based geophysics survey over a portion of the Zebediela Project has been completed. The purpose of the program was to assist with the accurate placement of further planned exploration drill holes and help gain a better understanding of the geology of the area. Preliminary interpretations have been received from the appointed geophysics consultants, Gap Geophysics (Pty) Ltd.
The program consisted of 11 survey lines totalling 19.6 km in length of time domain induced polarisation (IP) and resistivity plus ground magnetometer (Mag) survey, which was designed to detect mineralisation and geological contacts. Preliminary results show geological contacts associated with mineralisation and these can be traced along strike across the project area, allowing for targeting of further exploration drilling.
The locations of the survey lines are presented in Figure 1 which is accessible via the following link:
It is anticipated that the next stages of the program will commence in the last quarter of 2018 and will consist of the integration and 3D modelling of current drilling and geophysical data, a proposed multi-element soil geochemistry survey and a six hole diamond exploration drilling campaign, and additional geophysical traverses to the north and the south of the existing traverses.
John Zorbas, CEO of URU Metals, commented:
”Based on the results received to date, we are confident that we have identified the geological contact that is related to the nickel-PGE mineralisation and that this contact can be traced along strike, with the ultimate goal of proving up a high-value nickel plus PGE resource close to surface.”
Market Abuse Regulation (MAR) Disclosure
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 LimitedJ
(Chief Executive Officer)
|+1 416 504 3978
|SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
|+ 44 (0) 203 470 0470
|SVS Securities Plc
|+44 (0) 203 700 0093