URU Metals Limited Significant base metal assays at Zebediela (3387R)
21 September 2017 - 1:05AM
UK Regulatory
TIDMURU
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 14(th)
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 Depth Depth Sample Au Pt Pd Rh 3PGE+Au Cu Ni
Number From To Interval (g/t) (g/t) (g/t) (g/t) (g/t)* (%) (%)
--------- ------- ------- ---------- ------- ------- ------- ------- -------- ------ -----
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 57.5deg 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 Depth Depth Sample Au Pt Pd Rh 3PGE+Au Cu Ni
Number From To Interval (g/t) (g/t) (g/t) (g/t) (g/t)* (%) (%)
--------- ------- ------- ---------- ------- ------- ------- ------- -------- ------ -----
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 57.5deg 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
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