Highlights:
- Hole Z029 intersected 9.05 g/t Au over 28.32 m, including 12.21 g/t Au over 10.86 m and including 11.25 g/t Au over
10.64 m
- Hole Z027 intersected 1.67 g/t Au over 33.81 m, including 5.07 g/t Au over 4.81 m.
VANCOUVER, BC, April 12, 2022 /CNW/ - ZEB Nickel Corp. (TSXV:
ZBNI) (OTC: ZBNIF) ("Zeb" or the "Company") is pleased to report a
new gold zone discovery on its Zeb Project, located in Limpopo,
South Africa. In addition to
reporting on this new discovery, the Company is pleased to report
positive assay results from the remaining 5 holes in its recently
completed Phase 2 drill program. These assays have confirmed both
the grade and continuity of the Ni mineralization, as well as the
presence of higher-grade Ni-PGE bearing Critical Zone lithologies
on the project area.
The gold zone discovery is located in lithologies adjacent to
and beneath the Ni and PGE mineralized zones.
Gold was intersected in two of the eight holes in the recently
completed phase 2 drilling program. Intersections are summarised in
the table below.
|
Drillhole
ID
|
Dip
|
Depth
From
|
Depth
To
|
Measured
Interval
|
Gold
Grade
|
|
Units
|
|
Meters
|
Meters
|
Meters
|
Au
g/t
|
|
Z029
|
-50°
|
387.68
|
416.00
|
28.32
|
9.05
|
|
including
|
|
387.68
|
398.54
|
10.86
|
12.21
|
|
including
|
|
402.00
|
412.64
|
10.64
|
11.25
|
|
Z027
|
-50°
|
290.00
|
324.00
|
33.81
|
1.67
|
|
including
|
|
305.00
|
310.00
|
4.81
|
5.07
|
|
All intervals
represent drill core length.
True widths are unknown at this time.
|
Drillholes Z027 and Z029 were drilled at an inclination of 50°
on an azimuth of 45°. The location of these drill holes is shown in
Figure 1 below.
The discovery of the gold mineralization now means the there are
three known different styles and zones of mineralization within the
project area, namely the nickel mineralization in Lower Zone
lithologies, the Ni-PGE mineralization associated with Critical
Zone lithologies, and lastly, the newly discovered gold
mineralization. These are schematically shown on the cross-section
in Figure 2.
Historical drilling was largely focussed on defining the nickel
resource in the Lower Zone lithologies, and consequently, many of
these historical holes stopped short of intersecting the
lithologies that host the Ni-PGE mineralization, and potential gold
mineralization. Based on the exploration successes in Phase 1 of
this drill program, the Zeb Exploration team made the decision that
Phase 2 holes should all be drilled into the Penge Iron Formation
to test for Ni-PGE mineralization in footwall rocks of any Critical
Zone lithologies present on the project area. This policy has
resulted in numerous intersections of Ni-PGE mineralization in
Critical Zone rocks which was not previously identified in
historical drilling, as well as the new gold discovery.
A total of 14 holes were drilled in Phase 1 and Phase 2 of the
campaign. The initial results of these holes were presented in the
news release dated 15 March 2022,
(https://zebnickel.com/wp-content/uploads/2022/03/220315-Zeb-Nickel-Press-Release-Exploration-Drilling-Results.pdf).
The remaining results of the 2021 drill campaign are outlined
below.
All 14 holes drilled in Phase 1 and Phase 2 demonstrated the
presence of nickel sulphide in magmatic rocks, and 13 of these
holes demonstrated intersections of economic value. Of these, 12
holes contributed towards an increase in the overall basket price
of the Zeb Project.
The results from Phase 1 and Phase 2 exploration programs are
presented in Table 2 below. Drill core diameter for all holes is NQ
except for Z024, which was drilled BQ, and drill holes are drilled
at an inclination of 50 degrees on an azimuth of approximately 45
degrees.
Table 2: Exploration Program Results from the drill program
|
Drillhole
ID
|
Depth
From
|
Depth
To
|
Sample
Interval
|
Depth
Below
Surface
|
Ni^
|
Cu
|
Pt
|
Pd
|
Rh
|
Au
|
3PGE +
Au*
|
Mineralization
Style
|
|
meters
|
meters
|
meters
|
meters
|
%
|
%
|
g/t
|
g/t
|
g/t
|
g/t
|
g/t
|
|
|
Phase 1 Drill
Results
|
|
Z017
|
37.43
|
415.00
|
377.57
|
23.61
|
0.24
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
38.00
|
110.00
|
72.00
|
23.97
|
0.25
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
124.00
|
136.00
|
12.00
|
78.20
|
0.33
|
0.02
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
170.00
|
178.00
|
8.00
|
107.21
|
0.28
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
193.00
|
198.00
|
5.00
|
121.72
|
0.37
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
212.10
|
239.60
|
27.50
|
133.76
|
0.25
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
304.00
|
308.00
|
4.00
|
191.73
|
0.40
|
0.02
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
319.63
|
386.00
|
66.37
|
201.58
|
0.27
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
412.75
|
415.00
|
2.25
|
260.31
|
1.67
|
0.51
|
0.21
|
0.41
|
0.03
|
0.06
|
0.71
|
Lower Zone (Target
1)
|
|
Z018
|
33.00
|
394.00
|
361.00
|
21.48
|
0.25
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
88.00
|
125.19
|
37.19
|
57.27
|
0.30
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
144.00
|
171.80
|
27.80
|
93.71
|
0.28
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
328.00
|
348.00
|
20.00
|
213.45
|
0.31
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Z019
|
89.00
|
103.00
|
14.00
|
52.81
|
0.22
|
0.06
|
0.20
|
0.36
|
0.02
|
0.03
|
0.61
|
Critical Zone (Target
2)
|
|
Z019
|
133.00
|
170.80
|
37.80
|
78.92
|
0.29
|
0.09
|
0.40
|
0.68
|
0.07
|
0.04
|
1.19
|
Critical Zone (Target
2)
|
|
including
|
133.00
|
142.00
|
9.00
|
78.92
|
0.42
|
0.15
|
0.60
|
1.22
|
0.08
|
0.07
|
1.97
|
Critical Zone (Target
2)
|
|
including
|
169.00
|
170.60
|
1.60
|
100.29
|
0.50
|
0.12
|
0.73
|
0.92
|
0.22
|
0.04
|
1.90
|
Critical Zone (Target
2)
|
|
Z020
|
53.00
|
71.00
|
18.00
|
41.19
|
0.41
|
0.13
|
0.53
|
1.07
|
0.10
|
0.05
|
1.75
|
Critical Zone (Target
2)
|
|
including
|
55.00
|
64.00
|
9.00
|
42.74
|
0.51
|
0.18
|
0.73
|
1.47
|
0.13
|
0.07
|
2.45
|
Critical Zone (Target
2)
|
|
Z020
|
106.00
|
145.00
|
39.00
|
82.38
|
0.30
|
0.11
|
0.31
|
0.64
|
0.06
|
0.04
|
1.05
|
Critical Zone (Target
2)
|
|
Z020
|
174.00
|
176.07
|
2.07
|
135.22
|
0.59
|
0.15
|
0.90
|
0.95
|
0.11
|
0.05
|
2.00
|
Critical Zone (Target
2)
|
|
Z021
|
187.00
|
210.00
|
23.00
|
169.62
|
0.32
|
0.10
|
0.36
|
0.79
|
0.05
|
0.05
|
1.25
|
Critical Zone (Target
2)
|
|
including
|
194.00
|
199.00
|
5.00
|
175.97
|
0.48
|
0.12
|
0.57
|
1.45
|
0.08
|
0.06
|
2.16
|
Critical Zone (Target
2)
|
|
Z022
|
38.08
|
41.74
|
3.66
|
28.87
|
0.35
|
0.08
|
0.30
|
0.46
|
0.10
|
0.03
|
0.89
|
Critical Zone (Target
2)
|
|
Z022
|
69.00
|
76.00
|
7.00
|
52.31
|
0.25
|
0.08
|
0.20
|
0.42
|
0.02
|
0.03
|
0.67
|
Critical Zone (Target
2)
|
|
Z022
|
95.00
|
95.50
|
0.50
|
72.02
|
0.39
|
0.13
|
5.68
|
0.63
|
0.02
|
0.04
|
6.37
|
Critical Zone (Target
2)
|
|
Phase 2 Drill
Results
|
|
Z0231
|
214.00
|
217.00
|
3.00
|
163.93
|
0.22
|
0.11
|
0.71
|
0.25
|
0.03
|
0.12
|
1.10
|
Critical Zone (Target
2)
|
|
including
|
214.50
|
215.50
|
1.00
|
164.32
|
0.44
|
0.25
|
1.80
|
0.45
|
0.06
|
0.24
|
2.54
|
Critical Zone (Target
2)
|
|
Z0241
|
63.00
|
212.00
|
144.03
|
48.26
|
0.19
|
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
155.00
|
168.78
|
13.63
|
118.74
|
0.23
|
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
including
|
196.23
|
211.00
|
2.18
|
150.32
|
0.41
|
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Z0251
|
87.00
|
93.00
|
5.00
|
66.65
|
0.07
|
0.02
|
0.08
|
0.13
|
0.01
|
0.01
|
0.24
|
Critical Zone (Target
2)
|
|
Z026
|
277.50
|
290.00
|
12.50
|
209.43
|
0.35
|
0.15
|
0.74
|
0.97
|
0.06
|
0.06
|
1.82
|
Critical Zone (Target
2)
|
|
including
|
284.00
|
287.00
|
3.00
|
214.35
|
0.47
|
0.19
|
0.70
|
1.30
|
0.07
|
0.06
|
2.13
|
Critical Zone (Target
2)
|
|
including
|
288.50
|
290.00
|
1.50
|
217.73
|
0.41
|
0.16
|
0.55
|
1.20
|
0.07
|
0.06
|
1.88
|
Critical Zone (Target
2)
|
|
Z027
|
406.50
|
411.50
|
5.00
|
310.02
|
0.31
|
0.11
|
0.23
|
0.52
|
0.03
|
0.05
|
0.84
|
Critical Zone (Target
2)
|
|
including
|
406.50
|
408.50
|
2.00
|
310.02
|
0.32
|
0.11
|
0.26
|
0.59
|
0.04
|
0.05
|
0.94
|
Critical Zone (Target
2)
|
|
Z027
|
413.00
|
426.00
|
13.00
|
314.98
|
0.17
|
0.04
|
0.15
|
0.28
|
0.04
|
0.03
|
0.50
|
Critical Zone (Target
2)
|
|
Including
|
420.00
|
421.50
|
1.50
|
320.32
|
0.69
|
0.11
|
0.31
|
0.67
|
0.25
|
0.25
|
1.27
|
Critical Zone (Target
2)
|
|
Z0271
|
290.00
|
324.00
|
33.81
|
222.15
|
<0.01
|
0.01
|
|
|
|
1.67
|
|
Gold Zone
Discovery
|
|
Including
|
305.00
|
310.00
|
4.81
|
233.64
|
<0.01
|
0.01
|
|
|
|
5.07
|
|
Gold Zone
Discovery
|
|
Z028
|
413.00
|
449.50
|
36.00
|
314.98
|
0.22
|
0.08
|
0.24
|
0.48
|
0.04
|
0.03
|
0.80
|
Critical Zone (Target
2)
|
|
Including
|
427.00
|
433.50
|
6.50
|
325.65
|
0.37
|
0.18
|
0.54
|
1.10
|
0.10
|
0.06
|
1.80
|
Critical Zone (Target
2)
|
|
Z0291
|
87.00
|
375.55
|
286.36
|
66.65
|
0.16
|
0.02
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Including
|
87.00
|
114.55
|
54.55
|
66.65
|
0.20
|
0.02
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Z0291
|
387.68
|
416.00
|
28.32
|
296.98
|
<0.01
|
0.01
|
†
|
†
|
†
|
9.05
|
-
|
Gold Zone
Discovery
|
|
Including
|
387.68
|
398.54
|
10.86
|
296.98
|
<0.01
|
0.01
|
†
|
†
|
†
|
12.21
|
-
|
Gold Zone
Discovery
|
|
Including
|
402.00
|
412.64
|
10.64
|
307.95
|
<0.01
|
0.01
|
†
|
†
|
†
|
11.25
|
-
|
Gold Zone
Discovery
|
|
Z0301
|
84.0
|
347.00
|
263.00
|
64.35
|
0.21
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Including
|
103.00
|
110.00
|
7.00
|
78.90
|
0.23
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Including
|
183.00
|
272.78
|
89.78
|
140.18
|
0.24
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Including
|
227.00
|
237.00
|
10.00
|
173.89
|
0.32
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
Including
|
311.00
|
333.00
|
3.00
|
328.23
|
0.35
|
0.01
|
|
|
|
|
**
|
Lower Zone (Target
1)
|
|
1 Hole
previously not reported
* 3PGE+Au equals platinum + palladium + rhodium + gold by fire
assay with ICP-AES Finish;
** Intersection not assayed for 3PGE+Au, as previous work has
revealed that this portion of the orebody typically does not
contain PGE's at economic quantities
†Values below detection limit of laboratory
^Total Ni assay by complete digestion, representing the silicate
and sulfide portion of Ni;
Additional drilling is required to determine true thickness;
"Depth From", "Depth To" and "Sample Thickness" reported are depths
from surface down the drill hole;
All drillholes are drilled NQ diameter except for Z024 which was
drilled BQ diameter
|
Similarities to Ivanhoe Mines Flatreef PGE Deposit
Critical Zone intersections from drill hole Z028 demonstrated
similar stratigraphic horizons to those seen at Ivanplats' Flatreef
(Grobler, D. F., Brits, J. A. N., Maier, W. D., & Crossingham,
A. (2019). Litho-and chemostratigraphy of the Flatreef PGE deposit,
northern Bushveld Complex. Mineralium
Deposita, 54(1), 3-28. and Kekana, S. M., (2014) An
investigation of mineralization controls in the upper section of
the Platreef in the southern sector, on Turfspruit, Northern Limb,
Bushveld Complex South Africa. MSc from the University of the
Witwatersrand, Johannesburg, South
Africa pg 1-143.).
Based on the similarities in lithostratigraphy between Critical
Zone lithologies intersected in Z028 and that described in the
references listed above; the Zeb exploration team was able to
conclude that Z028 intersected the probable equivalent of the Upper
Critical Zone that hosts similar mineralized zones at Ivanhoe Mines
Flatreef PGE deposit (Figure 3).
The style of the mineralization and location of this
mineralization within the stratigraphic column in Z028 shows broad
similarities with the style and location of mineralization at
Ivanhoe's Flatreef Deposit. Z028 has a mineralized interval near
the top of the Upper Critical Zone, which could possibly be
correlated with the T1 Main Mineralized Zone identified in the
Ivanplats stratigraphy, and similarly the mineralized interval near
the base of the Critical Zone in Z028 could possibly be correlated
with the T2 Main Mineralized Zone at Ivanplats. Z028 does however
have two minor mineralized intervals between the upper and lower
mineralized zones that have not yet been correlated with any known
mineralized zones at Ivanplats. These mineralized zones are shown
in Figure 4 below.
The results from this program will be used to update the
three-dimensional geological model and used to site drillholes for
the next phase of drilling, planned to commence in Q2 2022. The
Company plans to present an updated mineral resource on the Lower
Zone orebody using the newly acquired data from these two phases of
drilling. In addition to this, the Company plans to drill over
30,000 m of exploration drilling in
2022 and present a new Preliminary Economic Assessment (PEA) with
improved project economics in 2023.
The extent and continuity of the high-grade gold mineralization
is untested, and the next phase of drilling will aim to prove the
continuity and extent of this gold mineralization while
simultaneously testing for Ni-PGE mineralization.
The presence of this high-grade gold mineralization will likely
improve the overall project economics, especially when combined
with the higher-grade Ni-PGE mineralization found in Critical Zone
rocks.
"This new gold zone discovery adds another exciting element
to the Zeb Nickel Project. These grades and thicknesses warrant
follow up drilling on this gold horizon which we look forward to
commencing shortly.
On the nickel front, the recently completed drill campaign
successfully demonstrated the presence of Critical Zone rocks
across the project, and with the team correlating these Critical
Zone rocks with the higher-grade mineralized horizons at our
neighbours, Ivanhoe, the next phase of drilling will target the
areas identified to carry Ni-PGE mineralization.", commented
Wayne Isaacs, Chief Executive
Officer and Director.
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).
The analytical work reported on herein was performed by SGS
South Africa Proprietary Limited, based in Randfontein,
South Africa, an internationally
recognized analytical services provider. Samples are analysed for
Ni using a nitric acid leach and sodium peroxide fusion, followed
by an ICP-AES finish; and Au, Pt, Pd by lead fusion followed by an
ICP-AES finish; and for Rh using palladium collection followed by
ICP-OES finish.
A full Quality Control and Quality Assurance (QAQC) program was
conducted on all assay results, and all reported assays where
deemed to be acceptable. The program was designed and implemented
by Dr. Matthew McCreesh. Dr.
McCreesh is a registered member of the South African Council for
Natural Scientific Professions (SACNASP) membership number 132928.
Dr. McCreesh holds a Ph.D. in Geology from the University of
Witwatersrand, South Africa, and
is member of the Geological Society of South Africa (GSSA).
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may
constitute "forward-looking information" under applicable Canadian
securities legislation. Forward looking information includes, but
is not limited to, drill results relating to the Zeb Project, the
potential thereof, timing of economic studies and mineral resource
estimates, the ability to classify the historical resource as a
current mineral resource, the ability to sell marketable materials,
strategic plans, including future exploration and development
results, and corporate and technical objectives. Forward-looking
information is necessarily based upon a number of assumptions that,
while considered reasonable, are subject to known and unknown
risks, uncertainties, and other factors which may cause the actual
results and future events to differ materially from those expressed
or implied by such forward-looking information. Factors that could
affect the outcome include, among others: future prices and the
supply of metals, the future demand for metals, the results of
drilling, inability to raise the money necessary to incur the
expenditures required to retain and advance the property,
environmental liabilities (known and unknown), general business,
economic, competitive, political and social uncertainties, results
of exploration programs, risks of the mining industry, delays in
obtaining governmental approvals, failure to obtain regulatory or
shareholder approvals, and the impact of COVID-19 related
disruptions in relation to the Company's business operations
including upon its employees, suppliers, facilities and other
stakeholders. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. All forward-looking information
contained in this press release is given as of the date hereof and
is based upon the opinions and estimates of management and
information available to management as at the date hereof. The
Company disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as required by
law.
SOURCE ZEB Nickel Corp.