REG - URU Metals Limited - Update from ZEB Nickel Corp

URU MetalsAnnouncement

19/04/2023 13:01

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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               +1 416 504 3978

 John Zorbas

 (Chief Executive Officer)

 SP Angel Corporate Finance LLP   + 44 (0) 203 470 0470

 (Nominated Adviser and Broker)

 Ewan Leggat

 Harry Davies-Ball

 

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