Business
Addition to Portfolio of Nick
Addition to Portfolio of Nick.
About this update from Uru Metals Limited
[{"type":"text","content":"\n RNS Number : 3511A Niger Uranium Limited 31 January 2011 \n \n\nFor immediate release 31 January 2011 \n \nNIGER URANIUM LIMITED \n(\"Niger Uranium\" or \"the Company\") \n \nAddition to Portfolio of Nickel Assets\n \nHighlights \n \n· Niger Uranium's joint venture partner, Southern African Nickel (\"SAN\"), has entered into a conditional binding agreement with Umnex Minerals Holdings Pty Ltd (\"Umnex Holdings\") for the joint venture to acquire an interest in the Zebediela Nickel Project close to the mining town of Mokopane in the Limpopo province of South Africa. The agreement is conditional upon the satisfactory conclusion of due diligence activities within 60 days of the date of the last signature by SAN and Umnex Holdings. \n \n· Upon completion, the Zebediela project will form part of the SAN-Niger Uranium nickel exploration joint venture (\"Joint Venture\").\n \n· Similar to the Burgersfort nickel project, the Company believes that the Zebediela project has the potential to host an economic source of low-grade disseminated nickel-sulphide mineralization. Based on historic drilling, the ultramafic bodies identified to date over the project are known to contain low-grade disseminated nickel-sulphide mineralization which fits with the Joint Venture's strategy.\n \n· Since 1970, a number of companies have unsuccessfully explored the property for Platreef-type PGE Ni-Cu mineralization. In 2007 the property was acquired by the current owners who drilled three deep holes to test Platreef-type PGE-Ni-Cu mineralization. Any potential PGE or Platreef-style...