REG - URU Metals Limited - Zeb Nickel Identifies High-Priority Drill Targets

URU MetalsAnnouncement

21/05/2025 07:00

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RNS Number : 4785J  URU Metals Limited  21 May 2025

21 May 2025

URU Metals Limited

("URU" or the "Company")

 

Zeb Nickel ("Zeb Nickel Project") Identifies High-Priority Drill Targets with
Strong Potential for High-Grade Nickel Sulphide Mineralisation

 

URU Metals Limited ("URU" or the "Company") is pleased to announce the results
of an advanced geophysical interpretation over its flagship project in South
Africa. The work, conducted by GeoFocus Geophysical Solutions (Pty) Ltd, has
identified a series of high-priority drill targets with strong potential to
host high-grade nickel-copper-PGE sulphide mineralisation.

The results confirm key elements of Zeb Nickel's exploration model, pointing
toward a conduit-style magmatic sulphide system with striking similarities to
the well-known Uitkomst Complex, which is a nickel-producing deposit in South
Africa associated with the Bushveld Complex, and formed through the
accumulation of dense sulphide minerals at the base of an ultramafic
intrusion.

Richard Montjoie, VP Exploration at Zeb Nickel, commented:

"This interpretation marks a significant milestone in the development of the
Zeb Project as announced 11 April 2025. The newly identified targets validate
our model of a dynamic magmatic plumbing system with potential for sulphide
accumulation along feeder conduits and in reactive footwall lithologies. These
are precisely the kinds of structural and lithological settings associated
with high-grade mineralisation at analogous deposits such as Uitkomst and
Platreef. The results provide a clear framework to drill both the known
nickel-PGE mineralisation in Zone 2 and test new, high-impact massive sulphide
targets in what we define as Zone 3."

Key Highlights

·      Multiple Drill-Ready Targets: Several strong gravity and magnetic
anomalies identified beneath and adjacent to the Uitloop I and II intrusions.

·      Feeder Zone Confirmed: New data supports a vertically stacked
system with a potential conduit linking Uitloop I and II - a key focus for
future drilling.

·      Target Zones Extend Below Known Mineralisation: Gravity modelling
has identified dense zones ~100 to 800 metres below surface, suggesting
untested high-grade sulphide potential at depth.

·      Untested Offshoots: Magnetic-gravity anomalies up to 1 km from
known intrusions suggest additional feeder zones or apophyses - enhancing the
district-scale potential.

What is Uitkomst-Style Mineralisation?

The Uitkomst Complex, located in South Africa, is a known nickel-copper-PGE
deposit with massive sulphide mineralisation hosted in a tubular ultramafic
intrusion emplaced into dolomite and shale. These intrusions act as magma
conduits, where heavy sulphide liquids sink and accumulate along the base of
the intrusion or at structural traps. This style of mineralisation typically
produces high-grade sulphide accumulations containing nickel, copper, cobalt,
and platinum group elements (PGEs).

Before mining ceased, the Uitkomst Complex hosted a resource of approximately
3.7 million tonnes grading 2.0-2.5% nickel and 1% copper, with minor cobalt
and PGE credits. The overlying disseminated sulphide deposit, known as the
Main Mineralised Zone ("MMZ"), was significantly larger, with an estimated
resource of ~140 million tonnes at 0.3% nickel and 0.15% copper, also
containing minor cobalt and PGM credits.

The Zeb Project exhibits many of these same geological hallmarks:

·      A vertically stacked intrusion system

·      Reactive footwall rocks (dolomite, shale)

·      Evidence of feeder conduits

·      Historic intercepts of PGE-Ni-Cu in the footwall

Zeb Nickel's Zone 2, possibly analogous to the MMZ, has already returned
intersections of up to 2 g/t 3E+Au, 0.4% Ni and 0.2% Cu, and the new
interpretation adds multiple deeper, denser bodies to test.

The Zone 2 mineralisation is hosted within pyroxenite and ultramafic sills,
and appears geologically similar to the Flatreef orebody at Ivanhoe Mines'
Platreef Project, located adjacent to - and down-dip from - the Zeb Project.
Flatreef is a flat-lying, high-grade polymetallic deposit formed through
sulphide accumulation in broad, reactive sedimentary traps. Like Flatreef,
Zeb's mineralisation appears to be laterally extensive, PGE-rich, and
vertically continuous.

As of 2025, Platreef hosts 59 million ounces of precious metals in Indicated
Resources and 94 million ounces in Inferred Resources. Once fully developed,
Platreef is positioned to become one of the world's largest and lowest-cost
producers of PGEs, delivering over 1 million ounces of 3PGE+Au annually, with
major by-product credits from nickel and copper.

Next Steps

These newly defined targets not only confirm the presence of Platreef-style
mineralisation in Zone 2, but also highlight the potential for high-grade,
conduit-hosted sulphide bodies in Zone 3, analogous to the Uitkomst Complex.
This dual geological model enhances Zeb's prospectivity and will directly
inform the upcoming drill strategy, which is designed to test both
disseminated and massive sulphide zones.

Immediate next steps include:

·      3D Integration: GeoFocus is providing full 3D magnetic and
gravity models for integration into Zeb's geological database.

·      Drill Planning: A list of top-priority targets is being
finalised, focused initially on zones with overlapping gravity and magnetic
signatures.

About the Company

URU Metals is a mineral exploration and development company focused on
advancing its high-potential critical metals projects in South Africa. The
Company is committed to creating sustainable value through responsible mining
practices, regulatory compliance, and engagement with stakeholders. For more
information, visit www.urumetals.com.

 

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 the Company'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 / Jen Clarke

 

 

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