Significant base metal assays at Zebediela 4:05 pm 20 Sep 2017

Wednesday 20 September, 2017

URU Metals Limited

Significant base metal assays at Zebediela

RNS Number : 3387R
URU Metals Limited
20 September 2017
 

URU Metals Limited

("URU Metals" or "the Company")

 

Significant base metal assay results correlate with PGE intersection from drill results at Zebediela Project

 

 

0.42% nickel and 0.15% copper with previously reported 2 g/t Platinum Group Elements (PGE) over 9m in latest drill hole

 

URU Metals is pleased to announce the corresponding nickel and copper assay results from the two significant Platinum Group Element intersections reported last week, in diamond drill hole Z019 on the Zebediela Project, located in Limpopo, South Africa. 

 

·     The first intersection returned an average of 0.42% nickel and 0.15% copper over 9 m from a depth of 133 m (see Table 1 for further detail). A second intersection returned an average of 0.44% nickel and 0.10% copper over 1.8 m from a depth of 169 m (see Table 2 for further detail).

 

·     These results correlate with the 2 g/t 3PGE+Au over 9m and 1.6 g/t 3 PGE & Au over 1.8 m that were reported on 14th September 2017

 

·     Further drilling is planned to commence shortly to test the extension and continuity of the nickel-copper-PGE mineralisation.

 

·     A total of three drill holes (Z017, Z018 and Z019) have now been completed in the current drill programme at Zebediela. Nickel and copper assays remain outstanding for Z017 and Z018, and the first of these, together with the results of the metallurgical testwork from the first drill hole Z017, are expected to be received shortly and all outstanding assay results will be reported thereafter.

 

John Zorbas, CEO of URU Metals, commented:

 

"These nickel and copper assay results are higher than we expected, and demonstrate the potential to continue to add value to the Zebediela Project. The shallow depths and significant widths of these intersections bode well for the project should we be able to demonstrate continuity of the mineralisation."

 

 

 

This announcement contains inside information.

 

END

For further information, please contact:

URU Metals Limited

John Zorbas

(Chief Executive Officer)

+1 416 504 3978

 

Northland Capital Partners Limited

(Nominated Adviser and Joint Broker)

Edward Hutton / Matthew Johnson

+ 44 (0) 203 861 6625

Beaufort Securities Limited

(Joint Broker)

Jonathan Belliss

+ 44 (0) 207 382 8300

SVS Securities Plc

(Joint Broker)

Tom Curran

+44 (0) 203 700 0093

 

 

APPENDIX

 

Table 1

 

First Nickel Copper PGE intersection in hole Z019

 

Sample Number

Depth From

Depth To

Sample Interval

Au (g/t)

Pt (g/t)

Pd (g/t)

Rh (g/t)

3PGE+Au (g/t)*

Cu (%)

Ni (%)

FT6079

133.00

134.00

1.00

0.10

0.60

1.31

0.08

2.09

0.156

0.45

FT6081

134.00

135.00

1.00

0.10

0.55

1.60

0.10

2.35

0.204

0.55

FT6082

135.00

136.00

1.00

0.05

0.41

1.03

0.07

1.56

0.118

0.36

FT6083

136.00

137.00

1.00

0.05

0.46

0.71

0.04

1.26

0.136

0.34

FT6084

137.00

138.00

1.00

0.06

0.78

1.19

0.09

2.12

0.150

0.42

FT6085

138.00

139.00

1.00

0.06

0.54

1.09

0.06

1.75

0.139

0.38

FT6086

139.00

140.00

1.00

0.07

0.89

1.32

0.09

2.37

0.189

0.46

FT6087

140.00

141.00

1.00

0.05

0.64

1.32

0.09

2.10

0.139

0.42

FT6088

141.00

142.00

1.00

0.06

0.57

1.37

0.09

2.09

0.143

0.45

 

*3PGE+Au equals Pt+Pd+Rh+Au

 

This intersection equates to a depth of 112 m below surface. The drill hole was drilled at an inclination of 57.5° below the horizontal, approximately perpendicular to the dip of the lithologies hosting the mineralisation.

 

Table 2

 

Second Nickel Copper PGE intersection in hole Z019

 

Sample Number

Depth From

Depth To

Sample Interval

Au (g/t)

Pt (g/t)

Pd (g/t)

Rh (g/t)

3PGE+Au (g/t)*

Cu (%)

Ni (%)

FT6118

169.00

169.20

0.20

0.06

0.62

0.98

0.14

1.80

0.172

0.49

FT6119

169.20

169.40

0.20

0.07

1.82

1.36

0.23

3.48

0.230

0.71

FT6121

169.40

169.60

0.20

0.04

0.36

0.68

0.05

1.13

0.100

0.32

FT6122

169.60

169.80

0.20

0.03

0.44

0.60

0.04

1.11

0.105

0.32

FT6123

169.80

170.12

0.32

0.03

0.21

0.42

0.02

0.68

0.050

0.22

FT6124

170.12

170.35

0.23

0.005

0.08

0.09

0.005

0.18

0.007

0.06

FT6125

170.35

170.60

0.25

0.02

0.33

1.80

0.98

3.13

0.105

1.16

FT6126

170.60

170.80

0.20

0.05

0.70

0.47

0.08

1.30

0.041

0.26

 

*3PGE+Au equals Pt+Pd+Rh+Au

 

This intersection equates to a depth of 143 m below surface. The drill hole was drilled at an inclination of 57.5° below the horizontal, approximately perpendicular to the dip of the lithologies hosting the mineralisation.

 

Sample preparation and chemical analysis were carried out by Setpoint Laboratories, South Africa. Base metals were determined by ICP-OES after HCLO4 digestion. PGE's were determined by lead collection fire assay with ICP-OES finish, using silver as a co-collector, and for rhodium analysis, palladium was used as a co-collector. Mrs Liana Spies, M.Sc., Pr.Sci.Nat. supervised the drill program and sampling.

 

 

Note

 

The information in this release has been compiled and reviewed by Richard Montjoie, the Exploration Manager for the Zebediela Project. Mr Montjoie holds a B.Sc. Honours in Geology from the University of Witwatersrand, South Africa, and is fellow of the Geological Society of South Africa (GSSA), a member of the Society of Economic Geologists, and a registered member of the South African Council for Natural Scientific Professions (SACNASP).  He has over 14 years' experience in mineral project development globally. Richard has been involved in several exploration programs in South Africa and Northern Canada, including various Ni-PGE, diamond, coal, coal bed methane and gold exploration and mining projects. Richard provides sound geoscientific input in development planning to ensure effective data acquisition, management and project execution.  Richard successfully acted as Project Manager for a 39 Moz platinum feasibility study, advancing the project from exploration stage to a completed bankable feasibility study with proven and probable reserves, on time and under budget, managing all aspects of the programme, from exploration programme design to various licencing applications. Mr Montjoie is a Qualified Person for the purposes of the AIM Note for Mining and Oil & Gas Companies.

 

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END