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URU Metals plans new resource estimate for Zebediela nickel project

The new programme planned for 2017 includes drill testing potential extensions, infill drilling and metallurgical studies.

Limpopo.jpg
The project is in South Africa

URU Metals Ltd (LON:URU) unveiled plans for next steps at its Zebediela nickel project in South Africa, which includes drilling and updating the resource estimate.

A previous NI 43-101 resource for the site, which lies 7km north east of Mokopane and less than 5km from a national highway, showed an indicated resource of 485.4 million tonnes (Mt) at 0.245% nickel.

The new programme planned for 2017 includes drill testing potential extensions, infill drilling and metallurgical studies.

The relevant government department has renewed the three prospecting licences for an additional two years, and an application has been put in to consolidate the three into one licence area in a bid to reduce costs in the future.

As part of new work, URU will investigate the potential of processing the magnetite by-product in the oxide and sulphide zones as part of a preliminary economic assessment.

The firm also announced that Richard Montjoie and Innes Buurman have joined as exploration manager and project geologist, respectively.

Shares eased 1.82% to stand at 0.810p.

Quick facts: URU Metals Ltd

Price: 213 GBX

AIM:URU
Market: AIM
Market Cap: £1.66 m
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