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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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(Sharecast News) - URU Metals said on Wednesday that it was still making progress in advancing its mining right Application in South Africa, which it announced in December.

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30 Dec 2019 17:49

URU Metals Interim Loss Narrows As Work Continues On Zebediela Project

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11 Dec 2019 15:47

URU Metals Progresses On Mining Application For Nickel Project

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1 Oct 2019 13:18

Uru Metals Annual Loss Deepens On Write-Offs; Lauds Project Progress

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30 Aug 2019 10:10

URU outlines work ahead to secure Zebediela mining right

(Sharecast News) - URU announced on Friday that the application for a mining right submitted by its South African subsidiary, Lesego Platinum Uitloop (LPU), over the three prospecting rights that form the Zebediela Project, has been accepted by the South African Department of Mineral Resources.

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31 Dec 2018 12:27

URU Metals narrows losses as it works towards revenue

(Sharecast News) - Pre-revenue company URU Metals announced its interim results for the six months ended 30 September on Monday, reporting an operating loss of $0.41m, narrowing from $0.54m a year earlier.

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29 Oct 2018 13:00

URU Metals Zebediela Project Licence Renewal Delayed To November

LONDON (Alliance News) - URU Metals Ltd on Monday said it applied for the renewal of the prospecting rights, that make up the Zebediela nickel sulphide project, to the South African Department of

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16 Oct 2018 14:32

URU completes ground-based geophysics survey at Zebediela

(Sharecast News) - URU Metals announced on Tuesday that the ground-based geophysics survey over a portion of the Zebediela Project has been completed.

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16 Oct 2018 10:04

URU Metals Completes Geophysical Survey For Zebediela Project Portion

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

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5 Oct 2018 07:56

URU Metals Shares Restored To Trading On AIM After Posting Accounts (ALLISS)

LONDON (Alliance News) - URU Metals Ltd shares were restored to trading on the AIM market of the London Stock Exchange on Friday after the company posted its annual report and accounts to mining

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4 Oct 2018 11:09

URU Metals Loss Widens On Administrative Expenses And Financial Assets

LONDON (Alliance News) - URU Metals Ltd on Thursday posted its delayed financial year results showing a widened loss on administrative expenses and an unrealised loss on its shares in Management a

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3 Oct 2018 14:38

MinEx Projects Disposes Entire Holding In URU Metals (ALLISS)

LONDON (Alliance News) - URU Metals Ltd on Wednesday said MinEx Projects Pty Ltd sold its entire beneficial interest in the company in a transaction on Tuesday.MinEx did not disclose how of

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28 Sep 2018 18:34

URU Metals Shares To Be Temporarily Suspended On Final Results Delay (ALLISS)

LONDON (Alliance News) - URU Metals Ltd on Friday said its shares will be temporarily suspended on AIM from Monday next week as it is unable to publish its audited annual report.The company

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27 Sep 2018 16:36

URU Metals Appoints Jay Viera As Chairman, Succeeds Kyle Appleby

LONDON (Alliance News) - URU Metals Ltd On Thursday said Jay Viera will replace Chairman Kyle Appleby with immediate effect.Appleby will continue to act as a non-executive director, the in

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