NWT Uranium, URU Minerals Announce Nickel Joint Venture

NWT Uranium Corp. (TSXV:NWT,FWB:NMV) and URU Metals (LSE:URU) announced the results of the preliminary economic assessment for their South African join venture nickel project.

As quoted in the press release:

• The Preliminary Economic Assessment (PEA) of the Zebediela Project projects a pre-tax and preroyalty net present value of $1,018 million, an internal rate of return of 25.7% and a 3.8 year payback period at an 8% discount rate.

• Indicated resources stand at 485.4 million tonnes at a grade of 0.245% Ni with additional inferred resources of 1,115.1 million tonnes at a grade of 0.248% Ni.

• Using indicated resources only, a proposed open-pit mine is envisioned with a 25 year mine life producing 56,600,000 lbs of recoverable nickel per annum.

Click here to read the NWT Uranium Corp. (TSXV:NWT) press release.   

Click here to read the URU Metals (LSE:URU) press release.