New high-grade gold zone discovered at Zeb Nickel Project
TSX-V: ZBNI
Z e b N i c k e l C o r p .
H e a d O f f i c e : S u i t e 4 0 1 , 4 K i n g S t r e e t W e s t, T o r o n t o , O n t a r i o , C a n a d a
R e g i s t e r e d O f f i c e : S u i t e 2 2 0 0 , 8 8 5 W e s t G e o r g i a S t r e e t , V a n c o u v e r , B r i t i s h C o l u m b i a , V 6 C 3 E 8
Zeb Nickel Corp
TSX-V: ZBNI
www.zebnickel.com
Tel: +1 416 628 3100
NEWS RELEASE
New high-grade gold zone discovered at Zeb Nickel Project
Highlights:
• Hole Z029 intersected 9.05 g/t Au over 28.32 m, including 12.21 g/t Au over
10.86 m and including 11.25 g/t Au over 10.64 m
• Hole Z027 intersected 1.67 g/t Au over 33.81 m, including 5.07 g/t Au over
4.81 m.
Vancouver, BC, April 12, 2022 – ZEB Nickel Corp. (ZBNI:TSX-V) (OTC:ZBNIF) (“Zeb” or
the “Company”) is pleased to report a new gold zone discovery on its Zeb Project,
located in Limpopo, South Africa. In addition to reporting on this new discovery, the
Company is pleased to report positive assay results from the remaining 5 holes in its
recently completed Phase 2 drill program. These assays have confirmed both the grade
and continuity of the Ni mineralization, as well as the presence of higher-grade Ni-PGE
bearing Critical Zone lithologies on the project area.
The gold zone discovery is located in lithologies adjacent to and beneath the Ni and PGE
mineralized zones.
Gold was intersected in two of the eight holes in the recently completed phase 2
drilling program. Intersections are summarised in the table below.
Table 1: Drill results for newly discovered gold zone
Drillhole
ID Dip Depth From Depth To Measured
Interval Gold Grade
Units Meters Meters Meters Au g/t
Z029 -50° 387.68 416.00 28.32 9.05
including 387.68 398.54 10.86 12.21
including 402.00 412.64 10.64 11.25
Z027 -50° 290.00 324.00 33.81 1.67
including 305.00 310.00 4.81 5.07
All intervals represent drill core length.
True widths are unknown at this time.
Drillholes Z027 and Z029 were drilled at an inclination of 50° on an azimuth of 45°. The
location of these drill holes is shown in Figure 1 below.
The discovery of the gold mineralization now means the there are three known different
styles and zones of mineralization within the project area, namely the nickel
mineralization in Lower Zone lithologie s, the Ni -PGE mineralization associated with
Critical Zone lithologies, and lastly, the newly discovered gold mineralization. These are
schematically shown on the cross-section in Figure 2.
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Figure 1: Geological map overlain with the location of all drillhol es on the project area. The white dashed
line joining the points “A” and “B” represents the location on surface of the cross -section along strike
presented in Figure 2 below.
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Figure 2: Cross section along strike along Section Line A-B as shown in Figure 1, schematically showing the
three different zones of mineralization, namely the nickel mineralization in Lower Zone lithologies, the Ni-
PGE mineralization associated with Critical Zone lithologies, and lastly, the newly discovered gold
mineralization.
Historical drilling was largely focussed on defining the nickel resource in the Lower Zone
lithologies, and consequently, many of these historical holes stopp ed short of
intersecting the lithologies that host the Ni -PGE mineralization, and potential gold
mineralization. Based on the exploration successes in Phase 1 of this drill program, the
Zeb Exploration team made the decision that Phase 2 holes should all be drilled into the
Penge Iron Formation to test for Ni-PGE mineralization in footwall rocks of any Critical
Zone lithologies present on the project area. This policy has resulted in numerous
intersections of Ni -PGE mineralization in Critical Zone rocks whi ch was not previously
identified in historical drilling, as well as the new gold discovery.
A total of 14 holes were drilled in Phase 1 and Phase 2 of the campaign. The initial
results of these holes were presented in the news release dated 15 March 2022,
(https://zebnickel.com/wp-content/uploads/2022/03/220315-Zeb-Nickel-Press-
Release-Exploration-Drilling-Results.pdf). The remaining results of the 2021 drill
campaign are outlined below.
All 14 holes drilled in Phase 1 and Phase 2 demonstrated the presence of nickel sulphide
in magmatic rocks, and 13 of these holes demonstrated intersections of economic value.
Of these, 12 holes contributed towards an increase in the overall basket price of the Zeb
Project.
The results from Phase 1 and Phase 2 exploration programs are presented in Table 2
below. Drill core diameter for all holes is NQ except for Z024, which was drilled BQ, and
drill holes are drilled at an inclination of 50 degrees on an azimuth of approximately 45
degrees.
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Table 2: Exploration Program Results from the drill program
Drillhole ID Depth
From
Depth
To
Sample
Interval
Depth
Below
Surface
Ni^ Cu Pt Pd Rh Au 3PGE +
Au* Mineralization Style
meters meters meters meters % % g/t g/t g/t g/t g/t
Phase 1 Drill Results
Z017 37.43 415.00 377.57 23.61 0.24 0.01 ** Lower Zone (Target 1)
including 38.00 110.00 72.00 23.97 0.25 0.01 ** Lower Zone (Target 1)
including 124.00 136.00 12.00 78.20 0.33 0.02 ** Lower Zone (Target 1)
including 170.00 178.00 8.00 107.21 0.28 0.01 ** Lower Zone (Target 1)
including 193.00 198.00 5.00 121.72 0.37 0.01 ** Lower Zone (Target 1)
including 212.10 239.60 27.50 133.76 0.25 0.01 ** Lower Zone (Target 1)
including 304.00 308.00 4.00 191.73 0.40 0.02 ** Lower Zone (Target 1)
including 319.63 386.00 66.37 201.58 0.27 0.01 ** Lower Zone (Target 1)
including 412.75 415.00 2.25 260.31 1.67 0.51 0.21 0.41 0.03 0.06 0.71 Lower Zone (Target 1)
Z018 33.00 394.00 361.00 21.48 0.25 0.01 ** Lower Zone (Target 1)
including 88.00 125.19 37.19 57.27 0.30 0.01 ** Lower Zone (Target 1)
including 144.00 171.80 27.80 93.71 0.28 0.01 ** Lower Zone (Target 1)
including 328.00 348.00 20.00 213.45 0.31 0.01 ** Lower Zone (Target 1)
Z019 89.00 103.00 14.00 52.81 0.22 0.06 0.20 0.36 0.02 0.03 0.61 Critical Zone (Target 2)
Z019 133.00 170.80 37.80 78.92 0.29 0.09 0.40 0.68 0.07 0.04 1.19 Critical Zone (Target 2)
including 133.00 142.00 9.00 78.92 0.42 0.15 0.60 1.22 0.08 0.07 1.97 Critical Zone (Target 2)
including 169.00 170.60 1.60 100.29 0.50 0.12 0.73 0.92 0.22 0.04 1.90 Critical Zone (Target 2)
Z020 53.00 71.00 18.00 41.19 0.41 0.13 0.53 1.07 0.10 0.05 1.75 Critical Zone (Target 2)
including 55.00 64.00 9.00 42.74 0.51 0.18 0.73 1.47 0.13 0.07 2.45 Critical Zone (Target 2)
Z020 106.00 145.00 39.00 82.38 0.30 0.11 0.31 0.64 0.06 0.04 1.05 Critical Zone (Target 2)
Z020 174.00 176.07 2.07 135.22 0.59 0.15 0.90 0.95 0.11 0.05 2.00 Critical Zone (Target 2)
Z021 187.00 210.00 23.00 169.62 0.32 0.10 0.36 0.79 0.05 0.05 1.25 Critical Zone (Target 2)
including 194.00 199.00 5.00 175.97 0.48 0.12 0.57 1.45 0.08 0.06 2.16 Critical Zone (Target 2)
Z022 38.08 41.74 3.66 28.87 0.35 0.08 0.30 0.46 0.10 0.03 0.89 Critical Zone (Target 2)
Z022 69.00 76.00 7.00 52.31 0.25 0.08 0.20 0.42 0.02 0.03 0.67 Critical Zone (Target 2)
Z022 95.00 95.50 0.50 72.02 0.39 0.13 5.68 0.63 0.02 0.04 6.37 Critical Zone (Target 2)
Phase 2 Drill Results
Z0231 214.00 217.00 3.00 163.93 0.22 0.11 0.71 0.25 0.03 0.12 1.10 Critical Zone (Target 2)
including 214.50 215.50 1.00 164.32 0.44 0.25 1.80 0.45 0.06 0.24 2.54 Critical Zone (Target 2)
Z0241 63.00 212.00 144.03 48.26 0.19 ** Lower Zone (Target 1)
including 155.00 168.78 13.63 118.74 0.23 ** Lower Zone (Target 1)
including 196.23 211.00 2.18 150.32 0.41 ** Lower Zone (Target 1)
Z0251 87.00 93.00 5.00 66.65 0.07 0.02 0.08 0.13 0.01 0.01 0.24 Critical Zone (Target 2)
Z026 277.50 290.00 12.50 209.43 0.35 0.15 0.74 0.97 0.06 0.06 1.82 Critical Zone (Target 2)
including 284.00 287.00 3.00 214.35 0.47 0.19 0.70 1.30 0.07 0.06 2.13 Critical Zone (Target 2)
including 288.50 290.00 1.50 217.73 0.41 0.16 0.55 1.20 0.07 0.06 1.88 Critical Zone (Target 2)
Z027 406.50 411.50 5.00 310.02 0.31 0.11 0.23 0.52 0.03 0.05 0.84 Critical Zone (Target 2)
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Drillhole ID Depth
From
Depth
To
Sample
Interval
Depth
Below
Surface
Ni^ Cu Pt Pd Rh Au 3PGE +
Au* Mineralization Style
including 406.50 408.50 2.00 310.02 0.32 0.11 0.26 0.59 0.04 0.05 0.94 Critical Zone (Target 2)
Z027 413.00 426.00 13.00 314.98 0.17 0.04 0.15 0.28 0.04 0.03 0.50 Critical Zone (Target 2)
Including 420.00 421.50 1.50 320.32 0.69 0.11 0.31 0.67 0.25 0.25 1.27 Critical Zone (Target 2)
Z0271 290.00 324.00 33.81 222.15 <0.01 0.01 1.67 Gold Zone Discovery
Including 305.00 310.00 4.81 233.64 <0.01 0.01 5.07 Gold Zone Discovery
Z028 413.00 449.50 36.00 314.98 0.22 0.08 0.24 0.48 0.04 0.03 0.80 Critical Zone (Target 2)
Including 427.00 433.50 6.50 325.65 0.37 0.18 0.54 1.10 0.10 0.06 1.80 Critical Zone (Target 2)
Z0291 87.00 375.55 286.36 66.65 0.16 0.02 ** Lower Zone (Target 1)
Including 87.00 114.55 54.55 66.65 0.20 0.02 ** Lower Zone (Target 1)
Z0291 387.68 416.00 28.32 296.98 <0.01 0.01 † † † 9.05 - Gold Zone Discovery
Including 387.68 398.54 10.86 296.98 <0.01 0.01 † † † 12.21 - Gold Zone Discovery
Including 402.00 412.64 10.64 307.95 <0.01 0.01 † † † 11.25 - Gold Zone Discovery
Z0301 84.0 347.00 263.00 64.35 0.21 0.01 ** Lower Zone (Target 1)
Including 103.00 110.00 7.00 78.90 0.23 0.01 ** Lower Zone (Target 1)
Including 183.00 272.78 89.78 140.18 0.24 0.01 ** Lower Zone (Target 1)
Including 227.00 237.00 10.00 173.89 0.32 0.01 ** Lower Zone (Target 1)
Including 311.00 333.00 3.00 328.23 0.35 0.01 ** Lower Zone (Target 1)
1 Hole previously not reported
* 3PGE+Au equals platinum + palladium + rhodium + gold by fire assay with ICP-AES Finish;
** Intersection not assayed for 3PGE+Au, as previous work has revealed that this portion of the orebody typically does not contain
PGE's at economic quantities
†Values below detection limit of laboratory
^Total Ni assay by complete digestion, representing the silicate and sulfide portion of Ni;
Additional drilling is required to determine true thickness;
“Depth From”, “Depth To” and “Sample Thickness” reported are depths from surface down the drill hole;
All drillholes are drilled NQ diameter except for Z024 which was drilled BQ diameter
Similarities to Ivanhoe Mines Flatreef PGE Deposit
Critical Zone intersections from drill hole Z028 demonstrated similar stratigraphic
horizons to those seen at Ivanplats’ Flatreef (Grobler, D. F., Brits, J. A. N., Maier, W. D.,
& Crossingham, A. (2019). Litho -and chemostratigraphy of the Flatreef PGE deposit,
northern Bushveld Complex. Mineralium Deposita , 54(1), 3 -28. and Kekana, S. M.,
(2014) An investigation of mineralization controls in the upper section of the Platreef in
the southern sector, on Turfspruit, Northern Limb, Bushveld Complex South Africa. MSc
from the University of the Witwatersrand, Johannesburg, South Africa pg 1-143.).
Based on the similarities in lithostratigraphy between Critical Zone lithologies intersected
in Z028 and that described in the references listed above; the Zeb exploration team was
able to conclude that Z028 intersected the probable equivalent of the Upper Critical Zone
that hosts similar mineralized zones at Ivanhoe Mines Flatreef PGE deposit (Figure 3).
The style of the mineralization and location of this mineralization within the stratigraphic
column in Z028 shows broad similarities with the style and location of mineralization at
Ivanhoe’s Flatreef Deposit. Z028 has a mineralized interval near the top o f the Upper
Critical Zone, which could possibly be correlated with the T1 Main Mineralized Zone
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identified in the Ivanplats stratigraphy, and similarly the mineralized interval near the
base of the Critical Zone in Z028 could possibly be correlated with th e T2 Main
Mineralized Zone at Ivanplats. Z028 does however have two minor mineralized intervals
between the upper and lower mineralized zones that have not yet been correlated with
any known mineralized zones at Ivanplats. These mineralized zones are shown in Figure
4 below.
Figure 3: Simplified stratigraphic columns showing the broad lithostratigraphic correlation between the
stratigraphy found at Ivanhoe Mines Flatreef PGE deposit on the left hand side and Z028 stratigraphy.
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Figure 4: Detailed stratigraphic columns showing the location of Platinum Group Element (3PGE+Au)
mineralization in the Upper Critical Zone lithologies at Ivanhoe Mines’ Flatreef Deposit and Z028.
The results from this program will be used to update the three-dimensional geological
model and used to site drillholes for the next phase of drilling, planned to commence in
Q2 2022. The Company plans to present an updated mineral resource on the Lower
Zone orebody using the n ewly acquired data from these two phases of drilling. In
addition to this, the Company plans to drill over 30,000 m of exploration drilling in 2022
and present a new P reliminary Economic Assessment (P EA) with improved project
economics in 2023.
The extent and continuity of the high -grade gold mineralization is untested, and the
next phase of drilling will aim to prove the continuity and extent of this gold
mineralization while simultaneously testing for Ni-PGE mineralization.
The presence of this high-grade gold mineralization will likely improve the overall project
economics, especially when combined with the higher-grade Ni-PGE mineralization
found in Critical Zone rocks.
“This new gold zone discovery adds another exciting element to the Zeb Nickel Project.
These grades and thicknesses warrant follow up drilling on this gold horizon which we
look forward to commencing shortly.
On the nickel front, the recently completed drill campaign successfully demonstrated the
presence of Critical Zone rocks across the project, and with the team correlating these
Critical Zone rocks with the higher -grade mineralized horizons at our neighbours,
Ivanhoe, the next p hase of drilling will target the areas identified to carry Ni-PGE
mineralization.”, commented Wayne Isaacs, Chief Executive Officer and Director.
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About the Company and Project
Zeb Nickel Corp is focused on exploring for and developing world-class mineral deposits,
with a focus on metals that are critical in the production of rechargeable batteries, such
as nickel, graphite, lithium, cobalt, manganese, copper and aluminum. The Company is
currently focused on developing its flagship Zeb Nickel Project, located in Limpopo,
South Africa. T he Zeb Nickel Project is a developing Class 1 nickel sulfide project
strategically located in the Bushveld Complex in South Africa. The Zeb Project Contains
a historical NI 43-101 compliant resource over 3.9 million tons of contained sulfide
nickel, ranking it number 8 in the global top ten nickel sulfide resources (Mudd, G. M.,
& Jowitt, S. M. (2014). A detailed assessment of global nickel resource and trends and
endowments. Economic Geology, 109(7), 1813-1841).
Qualified Person and Quality Control/Quality Assurance
Richard Montjoie has supervised the preparation of the scientific and technical
information that forms the basis for this news release and has approved the disclosure
herein. Mr. Montjoie is not independent of the Company. Mr. Montjoie is a registered
member of the South African Council for Natural Scientific Professions (SACNASP)
membership number 400131/09. Mr. Montjoie holds a M.Sc. Hon ors in Economic
Geology from the University of Witwatersrand, South Africa, and is fellow of the
Geological Society of South Africa (GSSA).
The analytical work reported on herein was performed by SGS South Africa Proprietary
Limited, based in Randfontein, South Africa, an internationally recognized analytical
services provider. Samples are analysed for Ni using a nitric acid leach and sodium
peroxide fusion, followed by an ICP -AES finish; and Au, Pt, Pd by lead fusion followed
by an ICP-AES finish; and for Rh using palladium collection followed by ICP-OES finish.
A full Quality Control and Quality Assurance (QAQC) program was conducted on all assay
results, and all reported assays where deemed to be acceptable. The program was
designed and imple mented by Dr. Matthew McCreesh. Dr. McCreesh is a registered
member of the South African Council for Natural Scientific Professions (SACNASP)
membership number 132928. Dr. McCreesh holds a Ph.D. in Geology from the University
of Witwatersrand, South Africa, and is member of the Geological Society of South Africa
(GSSA).
For further information, please visit http://www.zebnickel.com or contact:
Zeb Nickel Corp.
Wayne Isaacs
(Chief Executive Officer)
email: [email protected]
+1 416 504 3978
Company Website: www.zebnickel.com/