(Alliance News) - Uru Metals Ltd on Friday said it has made progress with its environmental impact assessment for the Zebediela nickel project in South Africa.
The exploration and development company said a geotechnical risk assessment is underway in which four targets will be drilled using a percussion drilling technique.
Pump testing is expected to be completed by the end of October.
Twenty geotechnical test pits have also been completed to understand the surface geotechnical characteristics of the mining right area. Each pit was geotechnically logged and soil samples taken for soil characterisation, the company said.
The rest of the necessary studies are scheduled for completion in December, which should allow for the submission of the final environmental impact assessment report on January 15, 2021.
If the mining right is granted, the company will secure the rights to mine and explore for nickel, chrome, cobalt, copper, gold, iron, vanadium, platinum, palladium, rhodium, osmium, ruthenium and iridium.
Uru Metals said that, in 2014, the area was ranked as one of the top ten class-one nickel sulphide resources globally, with an inferred resource of over 9 billion pounds of nickel.
Chief Executive John Zorbas said: "The company believes that nickel demand will outstrip supply, and the timing is right for the Zebediela nickel project to come online to meet the increasing demand for sulphide nickel. The company believe this resource can be mined using a safe, cost-effective, efficient and environmentally friendly open-pit mining method."
Uru Metals shares were up 10% at 319.00 pence each in London on Friday morning.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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Uru Metals (URU)