NB: Recent share price movement resulted from 1 – 25 share split announced on March 17 2025 here
URU Metals Limited is an AIM listed exploration and development company which identifies and invests in quality mineral projects worldwide.
The Company is exploring and developing a portfolio of high quality assets across a targeted spectrum of commodities in several geographic jurisdictions. In the immediate future, URU will endeavour to achieve this by continuing to explore and develop its flagship Zebedelia Nickel Property. The Company will continue to look for additional acquisition and/or investment opportunities as they arise.
Zebedelia Nickel Property
URU Metals owns 74.4% of Zeb Nickel Corp traded on the TSX.V under the symbol ZBNI.V. www.zebnickel.com.
The project is located in the Limpopo Province of South Africa close to the platinum mining town of Mokopane. The Critical Zone rocks identified at the Zebedelia project area are the same rocks that are mined at the nearby Ivanhoe Platreef Project and Anglo Platinum’s Mogalakwena Mine.
A Preliminary Economic Assessment (“PEA”) completed in 2012 reported inferred and indicated resources (Non-JORC) totalling over 1.5 billion tonnes @ 0.245% Ni with an estimated Net Present Value of US$317 million and a post-tax IRR of 18.6% (assuming a post-tax discount rate of 10%, nickel price of US$8.50/lb, production of 20,000 tonnes of nickel per year over a 25 year mine life, a total capex cost of US$708 million, and an opex cost of US$3.35/lb Ni).
While the historical resource contains over 1.5 billion tons, there is a clear path to increase the grade and add PGE credits. Historical drilling stopped short of what is now recognised as higher grade mineralisation near to the base of the geological body hosting the nickel mineralisation.
The last completed drill programme of 8 holes totalling 3220m resulted in multiple intersections of higher grade Ni-PGE mineralisation.
The drill programme successfully proved a strike zone of over 5km of Ni-PGE mineralisation.
Additionally various holes revealed the presence of anomalies containing high gold mineralisation. This mineralisation is almost certainly related to the gold mineralisation that occurs on the adjacent Pietersburg Greenstone Belt, which hosts several historical gold mines.
