By Josh White
Date: Tuesday 16 Oct 2018
LONDON (ShareCast) - (Sharecast News) - URU Metals announced on Tuesday that the ground-based geophysics survey over a portion of the Zebediela Project has been completed.
The AIM-traded firm said the purpose of the programme was to assist with the accurate placement of further planned exploration drill holes, and help gain a better understanding of the geology of the area.
Preliminary interpretations had been received from the appointed geophysics consultants, Gap Geophysics.
The company said the programme consisted of 11 survey lines totalling 19.6 kilometres in length of time domain induced polarisation and resistivity plus ground magnetometer survey, which was designed to detect mineralisation and geological contacts.
Preliminary results reportedly showed geological contacts associated with mineralisation , which could be traced along strike across the project area, allowing for targeting of further exploration drilling.
It was anticipated that the next stages of the programme would commence in the last quarter of 2018, and would consist of the integration and 3D modelling of current drilling and geophysical data, a proposed multi-element soil geochemistry survey and a six-hole diamond exploration drilling campaign, as well as additional geophysical traverses to the north and the south of the existing traverses.
"Based on the results received to date, we are confident that we have identified the geological contact that is related to the nickel-PGE 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 URU chief executive officer John Zorbas.
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Currency | UK Pounds |
Share Price | 135.00p |
Change Today | 0.000p |
% Change | 0.00 % |
52 Week High | 170.00p |
52 Week Low | 42.50p |
Volume | 354 |
Shares Issued | 1.65m |
Market Cap | £2.22m |
Beta | 1.01 |
RiskGrade | 364 |
Value |
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No dividends found |
Time | Volume / Share Price |
11:18 | 354 @ 140.00p |
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