19 October 2022
URU Metals Limited
(“URU”)
ZEB Nickel Corp to commence geotechnical drilling
URU announces that ZEB Nickel Corp. has today announced that it will shortly be commencing with geotechnical drilling on its Zeb Project, located in Limpopo, South Africa (the “Project”), as part of Zeb’s Mining Right Application to the South African Department of Mineral Resources and Energy.
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:
Geotechnical Drilling to commence at the Zeb Nickel Project as part of a Dolomitic Stability Investigation in order to advance the Company’s Mining Right Application.
Vancouver, BC, October 19th, 2022 – ZEB Nickel Corp. (ZBNI:TSX-V) (OTC:ZBNIF) (“Zeb” or the “Company”) is pleased to announce that the Company will shortly be commencing with geotechnical drilling as part of dolomitic stability investigation for the proposed mining infrastructure area which forms part of Zeb’s Mining Right Application to the South African Department of Mineral Resources and Energy (DMRE).
The Mining Right Application submitted to the DMRE as described in the Company’s 43-101, available on the Company’s website, had earmarked certain areas on the Project for surface mining infrastructure, which is underlain by dolomite. The DMRE has requested that the Company perform a dolomitic stability investigation in this prescribed area to ensure that any future surface mining infrastructure is not situated on geotechnically unstable ground, which can be associated with dolomite.
The drilling will be conducted by Ntamu Engineers, which is a South African Professional Environmental Consulting agency, with a team of professionals specializing in several environmental science and environmental engineering fields.
Drilling will follow on the back of a geophysical investigation consisting of a gravity survey to delineate areas of low densities possibly associated with dissolution cavities.
Drilling of an estimated 17 boreholes using an air percussion drilling method will be drilled to a minimum of 6 m into hard rock or 60 m whichever comes first as per South African National Standard (SANS) 1936-2. Logging of the drilling chips will be done by a qualified engineering geologist. Drilling will also be supervised by the Company’s geologists, who will monitor the chips for any geological information pertinent to the project and examine the chips for signs of mineralization.
No assays will be done on material collected from these drillholes unless mineralization is intersected.
The results of the study will be submitted to the South African Council for Geoscience for review, and then the final report will be submitted to the DMRE for comment. Drilling is expected to be completed by the October 28th, 2022, and the final report submitted to the DMRE during early December, 2022.
Wayne Isaacs, Chief Executive Officer and Director of Zeb Nickel, commented: “This study, as requested by the DMRE, forms part of routine geotechnical investigations for any construction activities that may be situated on dolomite or limestone lithologies. The Company does not anticipate any complications arising out of this study, and the geological team are eager to log these holes and be on the lookout for any Ni-Cu-PGE and gold mineralization which is known to occur in the area under investigation. This study will benefit the Company by not only advancing the application for a Mining Right over the Project Area, but also by providing additional geological information in the footwall to Targets 1 and 2, as described on our Company’s website.”
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).
For further information, please visit http://www.zebnickel.com
ZBNI announcement ends
For further information, please contact:
| URU Metals LimitedJohn 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 |
