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Pin to quick picksUru Metals Share News (URU)

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TRADING UPDATES: Amaroq strikes gold; Power Metal completes drilling

Tue, 07th Feb 2023 14:45

((Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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Uru Metals Ltd - Toronto-based investor and mine project developer - Announces identification of higher-grade nickel mineralised zone at Zeb project, South Africa, by 75% held Zeb Nickel Corp. Says deeper holes revealed higher grade nickel at the base of its historical resource estimate, an area historical drilling stopped short of testing. Notes further drilling may lead to higher grade nickel intersections and an overall grade increase.

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Amaroq Minerals Ltd - Greenland-focused mine development company - Says it has intersected gold in all completed drill holes, including 1.9 metres at 1.58 grammes of gold per tonne and 2 metres at 0.84 grammes of gold. Says drill holes indicate an intrusion related gold mineralisation system associated with a large tonnage target. Notes surface sampling results at East Ridge, 2 kilometres southwest, include visible gold observed in quartz veins. "The results are a positive step towards realising the potential of Vagar Ridge, a target with a broad-spanning surface footprint, which we believe holds significant resource. We plan to deploy the same exploration strategy of carefully targeted scout drilling and geological modelling that we have successfully implemented at our cornerstone Nalunaq project, which will improve confidence ahead of more intensive resource drilling," Chief Executive Officer Eldur Olafsson comments.

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Berkeley Energia Ltd - Clean energy company focused on bringing wholly owned Salamanca project in Spain into production - Receives notification from Spanish Ministry for Ecological Transition and the Demographic Challenge that it has rejected Berkeley's administrative appeal against MITECO's rejection of Authorisation for Construction for the uranium concentrate plant as a radioactive facility at the Salamanca project. MITECO rejected the Authorisation for Construction in 2021, which Berkeley says was done without following legally established procedure.

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Power Metal Resources PLC - London-based exploration company focusing on global metal discoveries -

Completes 2,404 metre diamond drilling programme at Molopo Farms project. Says inaugural drillhole was drilled to a depth of 483 metres, while deepest was 650 metres. Notes total drilling programme was made up of five drillholes. Says it is completing detailed logging of its remaining cores, and is processing and shipping remaining samples for assay testing. Chief Executive Officer Paul Johnson says: "Completion of this drill programme represents an important step forward for Power Metal and my thanks go out to the operational teams for a job well done. This exercise required some flexibility, with teams mobilising to multiple locations, requiring rapid adaptation to the changing technical demands on an iterative basis."

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By Harvey Dorset, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

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19 Apr 2023 17:06

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19 Sep 2022 17:07

IN BRIEF: Uru Metals says Zeb in new gold find at South Africa asset

Uru Metals Ltd - Toronto-based investor and mine project developer - Says investee Zeb Nickel Corp makes new gold discovery at Zeb project in Limpopo, South Africa. Uru has just shy of 75% stake in Zeb Nickel. "Analysis of reports detailing historical drilling on the Zebediela project has revealed the presence of anomalously high gold mineralization in hole UIT01-5," Uru says.

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12 Apr 2022 14:12

URU announces gold discovery on disposed project

(Sharecast News) - URU announced a new gold zone discovery on the Zeb Project in Limpopo, South Africa on Tuesday, which remains its main interest despite disposing of it last year.

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12 Apr 2022 12:43

IN BRIEF: Uru Metals hails new gold zone discovery at Zeb project

Uru Metals Ltd - Toronto-based investor and mine project developer - Reports a new gold zone discovery on Zeb project, located in Limpopo, South Africa. Adds that it received positive assay results from the remaining 5 holes in its recently completed phase 2 drill program that confirmed nickel mineralisation. Notes that it disposed of the project in August to ZEB Nickel Corp. It remains a primary focus of the company through its 75% stake in ZEB.

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URU falls after latest results from Zebediela drilling

(Sharecast News) - URU Metals announced results from the most recent phase of exploration drilling on the Zebediela Nickel Project on Tuesday, through its investment in Zeb Nickel Corporation.

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15 Mar 2022 12:05

IN BRIEF: Uru Metals notes positive results for drilling at Zebediela

Uru Metals Ltd - Toronto-based investor and mine project developer - Announces that Zeb Nickel Corp, a Toronto-based mineral deposits explorer, has completed the most recent phase of exploration drilling at the Zebediela nickel project in South Africa. Uru Metals holds a 75% interest in Zeb Nickel and is the technical operator of the Zebediela project.

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