16th Oct 2018 10:04
LONDON (Alliance News) - URU Metals Ltd said Tuesday that a ground-based geophysics survey over part of Zebediela Nickel Project in South Africa has been completed.
Shares in the miner were trading 12% lower at 0.35 pence each in morning trade.
The program was made up of 11 survey lines totalling 19.6 kilometres in length of time domain induced polarisations, designed to detect mineralisation and geological contacts.
The results have revealed geological contacts associated with mineralisation which can be traced along strike across the project area, allowing the the targeting of further exploration drilling.
URU expects that the next steps of the program will start in the last quarter of 2018, consisting of the integration and 3D modelling of current drilling and geophysical data, as well as a proposed geochemical survey and six hole diamond exploration drilling campaign.
"Based on the results received to date, we are confident that we have identified the geological contact that is related to the nickel-platinum group metals mineralisation and that this contact can be traced along strike, with the ultimate goal of proving up a high-value nickel plus PGE resource close to surface," said Chief Executive Officer John Zorbas.
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