REG - URU Metals Limited - Zeb Nickel Project – 3-D Geophysical Modelling

URU MetalsAnnouncement

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RNS Number : 0068L  URU Metals Limited  03 June 2025

3 June 2025

URU Metals Limited

 

Zeb Nickel Project - 3-D Geophysical Modelling Defines Four Priority Drill
Targets

 

URU Metals Limited ("URU" or the "Company") is pleased to report the results
of an independent 3-D inversion of high-resolution aeromagnetic and Falcon™
airborne gravity data over the Zeb Nickel Project ("Zeb") in Limpopo Province,
South Africa.

The work, completed by Geofocus (Pty) Ltd, refines and expands upon the
conduit-style sulphide model, identifying four discrete, high-density targets
interpreted to represent potential accumulations of massive nickel-copper-PGE
sulphide mineralisation.

 

Key Highlights

·   Four Priority Targets: Magnetic-susceptibility and density shells
delineate four coherent bodies concealed beneath Transvaal dolomite or within
the known Uitloop intrusion. Target 4 is the densest feature detected to date.

·      High-Priority Targets 1 & 2: Large, coincident
gravity-magnetic anomalies directly beneath parallel lobes of the Uitloop
chonolith, interpreted as feeder conduits where massive sulphides could pond.

·    Depth Extension Confirmed: Modelling indicates dense zones from ~100 m
to >800 m below surface, significantly deeper than historic drilling,
underscoring the untested potential at depth.

·     Model Corroborates Conduit System: The new inversion reinforces the
vertically stacked, feeder-pipe architecture which forms the basis of the
massive sulphide exploration model, with clear similarities to the
nickel-producing Uitkomst Complex.

 

These highlights confirm that multiple dense, magnetically susceptible bodies
lie wholly within the Company's licence and validate the ultramafic
feeder-conduit geological model that underpins Zeb's massive sulphide (Zone 3)
exploration thesis. Importantly, the new modelling expands the search
footprint, both laterally and to depths well beyond historic drilling, and
delivers a suite of clearly defined, drill-ready targets. Together, these
factors give the Company a compelling, capital-efficient path to massive
sulphide discovery, rapid resource definition and near-term value creation for
shareholders.

 

Technical Summary

The Zeb licence is covered by a 50 m line-spaced aeromagnetic/radiometric
survey and a 500 m line-spaced Falcon airborne gravity-gradiometer survey.
Geofocus completed 2-D litho-structural mapping, and then ran unconstrained
VOXI™ 3-D inversions using 12.5 m cells (magnetics) and 125 m cells
(gravity). The 3-D inversions are shown in Figure 1 below.

Figure 1: Result of 3-D VOXI inversion of both aeromagnetics (green) and GDD
gravity (red).

 

What the 3-D model shows

The 3-D model is shown in Figure 1, and illustrates the geometry of a classic
conduit hosted nickel system. A magnetically defined ultramafic channel, shown
in green, is punctuated by dense gravity highs in red located exactly where
ore forming processes predict massive nickel, copper and PGE sulphide pools.
These concepts are unpacked as follows:

1.  Geometry of the conduit and cumulate package (green volumes)

o  The extensive sinuous green surface marks rock with high magnetic
susceptibility, most likely ferromagnesian cumulates that formed the
ultramafic and mafic conduit.

o  Its ribbon-like shape and branching lobes possibly indicate a high flux
feeder system in which magma intruded repeatedly, eroding and inflating the
channel walls.

o  Irregular scalloped cavities on the underside possibly represent basal
embayments and turbulence, the very traps where dense sulphide melt tends to
collect.

2.  Discrete dense bodies (red volumes)

o  The red volumes are gravity highs that represent material much denser than
either the surrounding country rock or the ultramafic cumulates.

o  Their blunt ended droplet geometry and position along the flanks and floor
of the conduit match the expected signature of immiscible sulphide liquid that
pooled or was injected downward during sustained magma flow.

o  Several red bodies are partly wrapped by green volumes, placing them at or
just beneath the base of the magnetic conduit; others lie farther down plunge
in positions typical of footwall embayments.

3.  Spatial coincidence and offset

o  Where red and green volumes overlap, the signature could represent
sulphide lenses encased in magnetic cumulate. These intersections are prime
drill targets because density and magnetic contrast both support a sulphide
interpretation.

o  Red bodies slightly offset from the green conduit may be sulphide
accumulations that migrated into deeper embayments or structural traps in the
footwall dolomite; they are equally compelling and will need angled drill
holes to test.

4.  Scale and depth

o  Lateral continuity of the green conduit across several kilometres confirms
a long lived plumbing system capable of repeated magma throughput, a key
condition for concentrating large amounts of sulphide.

o  The model extends beyond eight hundred metres vertically, and many red
shells plunge below five hundred metres, well deeper than historic drilling.

 

It is worth noting that the olivine-rich cumulates that make up much of the
conduit can be significantly modified by hydrothermal fluids or late magmatic
fluids that convert olivine to serpentine and magnetite. A serpentinised zone
with abundant magnetite may produce coincident gravity and magnetic highs that
mimic a massive sulphide lens. Furthermore, magnetite formed during alteration
may localise along fractures or shear zones, creating narrow but intense
magnetic anomalies that the inversion could smear downward. That can give the
impression of deeper feeder structures or dense pods that do not actually
exist. These factors would be mitigated by a time-domain EM survey, which
would help discriminate between magnetite-rich alteration and true massive
sulphide, which shows sustained late-time conductivity.

 

The resulting susceptibility and density shells define the following targets:

 Target  Geological Setting                               Geophysical Signature                        Priority
 1       Beneath twin Uitloop sills in dolomite           Strong coincident gravity &  magnetics       High
 2       West of main intrusion, in dolomite              Large dense-magnetic body                    High
 3       3.3 km SSE of intrusion (partly within licence)  Gravity high with weak/no magnetics          Review
 4       Basal zone of known intrusion                    Densest modelled shell                       High

 

Next Steps

1.  3-D Integration: Import VOXI shells into Leapfrog™ for constrained
modelling with existing drill data.

2.  Electromagnetic Survey Option: The Company is evaluating both ground and
airborne EM surveys to further delineate and rank the identified targets prior
to drilling, and mitigate the risk of drilling false anomalies.

3.  Target Ranking & Drill Design:  Prioritise Targets 1, 2 and 4 for
first-pass deep diamond holes (planned depth 600-1 000 m).

4.  Community & ESG Engagement: Initiate stakeholder consultations in the
Mokopane region ahead of field mobilisation.

 

Richard Montjoie, VP Exploration, commented:

"The new 3-D inversion dramatically sharpens our view of the Zeb plumbing
system. We now have discrete, dense and magnetic bodies exactly where a
conduit-fed nickel sulphide deposit should sit. With four priority drill
targets along with the possibility of adding EM data for even finer
resolution, means that we are positioned for the most exciting test of the
project's potential to date."

 

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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