By: Creamer media/Mining weekly

The mining right has a 30-year term to 2055 and covers an area of 4 703.7 ha across certain portions of the Bloemhof 4KS, Uitloop 3KS, Amatava 41KS, and Piet Potgietersrust Town and Townlands 44KS farms, in the Mogalakwena local municipality, in Limpopo.

URU says post-execution formalities are under way, adding that the mining right is in the process of being submitted for registration at the Mineral and Petroleum Titles Registration Office, in Pretoria.

"The granting and execution of the mining right materially de-risks Zeb nickel by securing the right for 30 years and positions the project to engage quality partners as we advance.

“Our immediate priority is to complete the ground electromagnetic and gravity survey and associated modelling and present a clear, efficient drill plan focused on the highest-ranked targets,” says CEO John Zorbas.

Ground gravity and frequency-domain electromagnetic surveys are scheduled to begin shortly over two priority targets at the Zeb project.

The company explains that the objective of these surveys is to refine the geometry of the identified conductors and generate decision-ready drill targets.

Meanwhile, URU has also raised £1.1-million, before expenses, through the placing of 15.71-million new shares.

The funds will allow URU to start critical on-the-ground work at Zeb, including ground geophysics. The company intends to soon launch a tender process to find a drilling contractor for work that is expected to start in the first quarter of 2026.

"After the successful granting of the long awaited mining licence by the DMPR, we are pleased to have secured the funding requirements for the immediate future of the on-the-ground operations at our flagship Zeb project.

“The amount available to the company is significantly above what the company has previously raised, reflecting increased investor interest at this critical time in URU's development,” says Zorbas.