Ze b Ni c k e l Co 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 , To r o nt o , On t ar i o , C a n a d a R e g is t e r e d Of 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 lu m b i a , V 6 C 3 E 8
Ze b Ni c k e l Co 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 , To r o nt o , On t ar i o , C a n a d a
R e g is t e r e d Of 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 lu m b i a , V 6 C 3 E 8
Zeb Nickel
Corp
TSX-V: ZBNI
www.zebnickel.com
Tel: +1 416 504 3978
NEWS RELEASE
Higher grade nickel sulfide and associated PGE mineralization of up to 1.7% nickel
intersected in Critical Zone and adjacent lithologies during exploration drilling on
the Zebediela Project.
Zeb Nickel confirming that the Project hosts the up-dip extension of Ivanplats
geology.
Highlights of results:
0.71 g/t 3PGE+Au (58% palladium content) and 1.7 % nickel at a depth of 260 m
below surface;
6.4 g/t 3PGE+Au (89% platinum content) and 0.39% nickel at a depth of 72 m
below surface;
2.13 g/t 3PGE+Au (61% palladium content) and 0.47% nickel at a depth of 214 m
below surface;
1.27 g/t 3PGE+Au (45% palladium content) and 0.69% nickel at a depth of 320 m
below surface;
Vancouver, BC, March 15, 2022 – ZEB Nickel Corp. (ZBNI:TSX-V) (OTC:ZBNIF) (“Zeb” or the
“Company”) is pleased to announce that the Company has completed Phase 2 of exploration
drilling on the Zebediela Project and has successfully intersected Critical Zone lithologies in all
drillholes with reported assay results in this recent phase, located beneath the historical 43-101-
compliant 1.5 billion-ton sulfide nickel resource which contains approximately 3,955 kt of nickel.
A weighted average calculation using a cut-off grade of 0.31% Ni from this phase of drilling has
resulted in an increased grade of 76% higher than that declared in the historical resource used
in the existing Preliminary Economic Assessment (PEA). This existing historical resource consists
of an Indicated Resource of 485.4 million tonnes averaging 0.245% Ni, with an additional
Inferred Resource of 1,115.1 million tonnes at 0.248% Ni using a cut-off grade of 0.1% Ni.
The Critical Zone of the Bushveld Complex is the geological horizon that hosts Platreef-style
mineralization in the Northern Limb, which is the mineralised zone currently being mined at Anglo
American Platinum’s flagship Mogalakwena Mine, and Ivanhoe Mines Platreef Mine (average
depth of 800 m). The location of the project in relation to Mogalakwena Mine and Platreef Mine
is shown in Figure 1 below.
Page 2
Figure 1: Location of the Zebediela Project in relation to Mogalakwena Mining Complex and
Platreef Mine.
Source: Esri,
Maxar, GeoEye,
29°0'0"E28°50'0"E
23°50'0"S24°0'0"S24°10'0"S24°20'0"S
Anglo American
Mogalakwena Mining Complex
Ivanhoe Mines
Platreef Project
Zebediela
Nickel Project
South Africa
Legend
Zebediela Project
Ivanhoe Mines
Anglo American Platinum Mogalakwena Mining Complex
Rustenburg Layered Suite, Bushveld Complex
Page 3
This phase of drilling is a continuation of the first phase conducted by the Company for a total
of 4,901 m in both Phase 1 and Phase 2, targeting higher grade nickel PGE mineralisation in
Critical Zone rocks found beneath the existing NI43-101 compliant nickel resource.
The Company is pleased to announce that these Critical Zone rocks have been discovered along
a strike length of at least 3 km.
6 holes were completed in the Phase 1 drill campaign and a further 8 holes were completed in
the Phase 2 drill campaign (assay results for 5 holes are outstanding).
Exploration results from the drilling campaign are presented in the table below, and the location
of these holes are presented in Figure 2 below. Drill core diameter for all holes is NQ and drill
holes are drilled at an inclination of 50 degrees on an azimuth of approximately 45 degrees.
Page 4
Table 1: 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* Mineralisation Style
meters meters meters meters % % g/t g/t g/t g/t g/t
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)
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)
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)
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)
* 3PGE+Au equals platinum + palladium + rhodium + gold by fire assay with ICP-AES Finish;
^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.
Page 5
Figure 2: Location of drillholes overlain on satellite imagery
Page 6
Based on whole rock geochemistry and methodologies developed by the Zebediela technical
team, this exploration program has now conclusively proved that mineralized Critical Zone rocks
are present beneath the historical NI43-101 resource that could be mined using open pit mining
methods.
The Company is extremely pleased with the successful drill campaign which has confirmed the
geological model targeting higher-grade Ni-PGE mineralization beneath the historical NI43-101
resource, and towards the north and south, expanding the strike length of the Critical Zone
mineralization. The Company looks forward to reporting the outstanding results from this phase
of the drilling program, as well as commencing with the next phase of drilling. This next phase
should allow for the declaration of a maiden Ni-PGE resource statement on this higher-grade Ni-
PGE mineralization target and allow for a new PEA with improved project economics.
“With two major mining companies in our area exploiting the same Critical Zone
lithologies which host the Ni-PGE mineralization that we have recently discovered as
part of our recent exploration campaign, and the recent increases in nickel and palladium
prices, we are encouraged with the results to date. We look forward to receiving the
remaining assay results and we are confident that these will continue to add value to
the overall project economics.”, commented Wayne Isaacs, Chief Executive Officer and
Director.
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. Honors 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.
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/
Page 7
Cautionary Note Regarding Forward-Looking Statements
This press release contains certain information that may constitute "forward-looking information"
under applicable Canadian securities legislation. Forward looking information includes, but is not
limited to, drill results relating to the Zebediela Project, the potential thereof, timing of economic
studies and mineral resource estimates, the ability to classify the historical resource as a current
mineral resource, the ability to sell marketable materials, strategic plans, including future
exploration and development results, and corporate and technical objectives. Forward-looking
information is necessarily based upon a number of assumptions that, while considered
reasonable, are subject to known and unknown risks, uncertainties, and other factors which may
cause the actual results and future events to differ materially from those expressed or implied
by such forward-looking information. Factors that could affect the outcome include, among
others: future prices and the supply of metals, the future demand for metals, the results of
drilling, inability to raise the money necessary to incur the expenditures required to retain and
advance the property, environmental liabilities (known and unknown), general business,
economic, competitive, political and social uncertainties, results of exploration programs, risks of
the mining industry, delays in obtaining governmental approvals, failure to obtain regulatory or
shareholder approvals, and the impact of COVID-19 related disruptions in relation to the
Company's business operations including upon its employees, suppliers, facilities and other
stakeholders. There can be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on forward-looking information. All forward-
looking information contained in this press release is given as of the date hereof and is based
upon the opinions and estimates of management and information available to management as
at the date hereof. The Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise,
except as required by law.