URU Metals Limited Zebediela and Corporate Update (6120Y)
23 August 2018 - 1:41AM
UK Regulatory
TIDMURU
RNS Number : 6120Y
URU Metals Limited
22 August 2018
URU Metals Limited
("URU Metals" or "the Company")
Zebediela and Corporate Update
URU is pleased to provide shareholders with an update on the
geophysics programme and metallurgical test work at the Company's
Zebediela Ni-PGE Project and a general corporate update.
Geophysics Program Update
Phase 1 of the geophysics program consisted of two lines of
ground-based geophysics to test whether the geophysics can detect
known higher-grade Ni-PGE mineralisation intersected in the 2017
drilling campaign. The geophysics was successful in delineating IP
(inverse polarisation) anomalies over the mineralisation. The next
phase of the program is underway with the aim of generating further
IP anomalies to be followed up by a proposed multi-element soil
geochemistry survey and a six-hole diamond exploration drilling
campaign as detailed in the RNS released on 18 July 2018.
Metallurgical Testwork Update
Metallurgical test work has been completed to establish whether
a Rados XRF ore sorter could be used to upgrade the metal content
of samples from the Zebediela Nickel project. The Rados XRF ore
sorter uses well established technology to analyse the surface of
the ore and discard lower grade samples, thereby cost effectively
increasing the mill-feed grade to the processing plant and
potentially reducing acid consumption further, an objective of the
test work stated in the RNS released on 03 November 2017.
Analysis of pieces of drill core showed that the Rados XRF ore
sorter can identify particles with high Rados metal analyses as
well as particles with low Rados metal analyses. The distribution
of Rados metal analyses shows that the sample can be sorted with
the Rados XRF ore sorter. During the testing process the upgrade in
overall mill feed grade was increased however, in the Company's
view, it was not to levels substaintial enough to justify the use
of an XRF Rados ore sorter in the process due to an overall lack of
variation in nickel grade in the samples submitted.
Corporate Update
The Company announced on 13 June 2017 that it was evaluating
Lithium projects and that it was in the process of concluding final
negotiations for the expected acquisition of certain Lithium
projects.
Whilst the Company is still evaluating a number of Lithium
project opportunities it is no longer actively negotiating terms
for the acquisition of any Lithium projects at this time.
A further announcement on Lithium project opportunities will
only be made in the event that the Company concludes preliminary or
final terms for the acquisition of a Lithium project.
For further information, please contact:
URU Metals Limited
John Zorbas
(Chief Executive Officer) +1 416 504 3978
SP Angel Corporate Finance LLP
(Nominated Adviser and Broker)
Ewan Leggat + 44 (0) 203 470 0470
SVS Securities Plc
(Joint Broker)
Tom Curran +44 (0) 203 700 0093
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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