Business
Joint Venture Agreement
Joint Venture Agreement.
About this update from Uru Metals Limited
[{"type":"text","content":"\n RNS Number : 8740T Niger Uranium Limited 05 October 2010 \n \n\nFor immediate release 5 October 2010 \n \nNIGER URANIUM LIMITED \n(\"Niger Uranium\" or \"the Company\") \n \nJoint Venture Agreement with Southern Africa Nickel Limited (\"SAN\")\n on a Southern African nickel project portfolio\n \nHighlights \n \n\n\nNiger Uranium has today established a joint venture (the \"Joint Venture\") with SAN, the joint owner and current developer of a portfolio of large nickel projects in Southern Africa. The Company has committed to provide funding to the Joint Venture of, in aggregate, up to US$3.6 million over the next 20 months.\n\n\n\n\n\nThe Company believes that the Joint Venture's nickel projects have potential to host large low-grade, economic, open-pittable sulphide-nickel mineralization.\n\n\n\n\nThe flagship target is the Burgersfort nickel project in the Mpumalanga Province of South Africa, which is currently held in a joint venture between SAN and BSC Resources, a South African Black Economic Empowerment partner.\n\n\n\n\n\nBurgersfort was previously explored by both Goldfields Mining and Development and by Falconbridge Ventures of Africa. Preliminary results based on previous data and recent geophysics have identified a number of shallow nickel targets and three deeper targets for massive sulphide mineralization. \n\n\n\n\n\nFurther large nickel targets are being pursued by the Joint Venture in the Bushveld region of South Africa.\n\n\n\n\n\nThe SAN portfolio also includes purchase options over nickel projects in Zimbabwe, previously explored by Falconbridge, where a large, low-grade surface deposit is targeted, and other mine dump projects across Southern Africa.\n\n\n\nTh...