Zeb Nickel (TSX-V:ZBNI, OTC:ZBNIF) Corp revealed positive assay results from the remaining five holes in its recently completed Phase 2 drill program at its Zeb nickel project that have confirmed the grade and continuity of nickel mineralization.
In addition, the results highlighted the presence of high-grade nickel-platinum group element-bearing lithologies in the project area, the company told shareholders.
Zeb also intersected gold in two of the eight holes in the drilling program, which are located in lithologies adjacent to and beneath the nickel and PGE mineralized zones, according to a statement.
READ: Zeb Nickel hails latest drill results from flagship South Africa project, which shows higher grade mineralization under historical resource
Highlights from the results include 28.3 metres at 9.05 grams per ton (g/t), including 10.9 metres at 12.21 g/t and 10.6 metres at 11.3 g/t gold, as well as 33.8 metres at 1.7 g/t and 4.8 metres at 5.1 g/t gold.
Zeb Nickel told shareholders that its discovery of the gold mineralization now means there are three known different styles and zones of mineralization within the project area: the nickel mineralization in Lower Zone lithologies, the nickel-PGE mineralization associated with Critical Zone lithologies, and the newly discovered gold mineralization.
"This new gold zone discovery adds another exciting element to the Zeb nickel project,” CEO Wayne Issacs told investors. “These grades and thicknesses warrant follow up drilling on this gold horizon which we look forward to commencing shortly.”
As for nickel, all 14 holes drilled in Phase 1 and Phase 2 demonstrated the presence of nickel sulphide in magmatic rocks, and 13 of these holes demonstrated intersections of economic value, according to Zeb. Of these, 12 holes contributed to an increase in the overall basket price of the Zeb project.
“On the nickel front, the recently completed drill campaign successfully demonstrated the presence of Critical Zone rocks across the project, and with the team correlating these Critical Zone rocks with the higher-grade mineralized horizons at our neighbours, Ivanhoe, the next phase of drilling will target the areas identified to carry Ni-PGE mineralization,” Issacs added.
The results from the Phase 2 program will be used to update the three-dimensional geological model and used to position drill holes for the next phase of drilling, expected in the second quarter of 2022.
Zeb is planning to drill over 30,000 metres in 2022 and present a new Preliminary Economic Assessment (PEA) with improved project economics in 2023.
Zeb’s flagship Zeb nickel project is located in Limpopo, South Africa.
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