URU Metals Limited Zebediela Project Update (9858H)
14 June 2017 - 1:16AM
UK Regulatory
TIDMURU
RNS Number : 9858H
URU Metals Limited
13 June 2017
URU Metals Limited
("URU Metals" or "the Company")
Zebediela Nickel Project
Drilling campaign update
URU Metals is pleased to announce that it has completed drilling
its first hole (Hole Z017) at the Zebediela Nickel Project, located
in Limpopo Province, South Africa. The hole was drilled to a depth
of 422m. The drilling has enabled the Company to obtain additional
material to conduct further metallurgical test work. This work will
assist the Company in assessing the potential to generate revenue
from the magnetite mineralisation, as well as allowing it to obtain
fresh material to assess the potential for an acid and bioleaching
operation, compared to the previously envisaged floatation
operation. The Company believes that acid and bioleaching could
reduce the upfront capital cost and the projected operational costs
of the project. Additional drilling is currently underway as part
of this 1,500m drilling campaign.
Initial onsite tests of the samples were performed and the
Company is now awaiting assay results from Setpoint Laboratories.
The Company will use the samples taken, in combination with
previous samples taken, to further test the acid and bioleaching
process. Mintek Biotechnology Division, a global leader in the
development of bioleaching technologies, is undertaking the acid
and bioleaching testing.
John Zorbas, CEO of URU Metals, commented "We look forward to
the assay results from the first hole of this campaign and indeed
the rest of the campaign. The appointment of Henry Kloepper to the
Board will ensure that he has full technical oversight of the
Zebediela Nickel Project. We remain focused on monetising the value
of the Zebediela Nickel Project."
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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