Zeb Nickel (TSX-V:ZBNI, OTC:ZBNIF) Corp revealed that it had kicked off further exploration drilling at its flagship Zeb Nickel (TSX-V:ZBNI, OTC:ZBNIF) project area in Limpopo, South Africa.
The Vancouver, British Columbia-based company said this phase of exploration drilling will simultaneously target three mineralized zones.
Firstly, it will target a higher-grade nickel mineralized zone identified at the base of the historical drilling within the ZEB1 mineralized package.
Then it will turn to the last completed exploration program which discovered nickel-copper-platinum group element (Ni-Cu-PGE) mineralization located adjacent to and beneath ZEB 1, referring to the style of mineralization as Target 2. Zeb noted that Target 2 was intersected in 10 previous drillholes and accounts for around 3,000 meters of drilling.
Finally, the drilling will focus on a massive to semi-massive nickel-PGE mineralization associated with what appears to be an ultramafic "plumbing system" beneath and to the east of Target 3. Target 3 has been intersected in three drillholes with a total of 1,100 meters of drilling.
In a statement, James Nieuwenhuys who is the non-executive chairman at Zeb Nickel, said: "Over the years the project team have assimilated and refined the geological model and we are now confident that this next round of drilling will confirm areas of high-grade nickel and Ni-Cu-PGE mineralization.”
“Our aim is to produce a preliminary economic assessment to map out an achievable path, subject to a positive feasibility study, to the development of a fully de-risked, low-cost, high-grade nickel sulfide project."
Separately, the company said that it has retained INFOR Financial Inc to provide capital markets advisory services. As part of the agreement, INFOR Financial will introduce Zeb Nickel to capital market participants, institutional investors and funds, private capital sources and other potential strategic investors. The objective is to boost liquidity for Zeb’s shares.
Zeb Nickel focuses on metals that are critical in the production of rechargeable batteries such as nickel, graphite, lithium, cobalt, manganese, copper, and aluminum.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
Follow her on Twitter: @UttaraProactive