ZNC’s flagship project is the Zeb Nickel Project located approximately 9 km northeast of the mining and farming town of Mokopane in the Limpopo Province of South Africa. The project is located in an area known for its world-class nickel-copper-platinum group element (“Ni-Cu-PGE”) deposits. ZNC’s neighbors include Ivanhoe Mines’ Platreef Project and Anglo American Platinum’s Mogalakwena mine, which is the world’s largest open pit platinum mine. These two deposits together contain over 27% of the top ten known global nickel sulphide resources (Mudd, G. M., & Jowitt, S. M. (2014). A detailed assessment of global nickel resource trends and endowments. Economic Geology, 109(7), 1813-1841.).
The Zeb Nickel Project contains 3.9 million tons of contained sulfide nickel1.
1. The Historical Resource Estimate used categories that conformed to CIM Definition Standards on Mineral Resources and Mineral Reserves (CIM, 2010) at the time of completion of the Historical Resource Estimate. The Historical Resource Estimate has an effective date of March 31, 2012 and estimated 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% TNi (Total Nickel). The Historical Resource Estimate used a nickel price of US$8.50 per pound or US$18,739.00 per ton. The mineral resources were quoted as TNi and were restricted to mineralization in the “Sulphide Zone”. They were stated as in-situ with no geological losses applied. The mineralization in the Uitloop II body was constrained by a TNi grade-derived envelope. Although the intrusive body is largely coincident with this, there is no uniform geological control on the mineralization across the body.
Additional drilling was determined to be required to further investigate the morphology of the mineralized envelope and to in-fill sparsely-drilled areas. The Company’s drill program planned for 2023 is intended to determine a current estimate of mineral resources on the Zeb Project and the extent to which the Historical Resource Estimate may be considered current. The Historical Resource Estimate is not supported by a compliant NI 43-101 technical report, and the Historical Resource Estimate should not be relied on until it has been verified and supported by a compliant NI 43-101 technical report. Richard Montjoie has supervised the preparation of the scientific and technical contained in this Project Summary and has approved the disclosure herein (other then the historical estimate). Mr. Montjoie is the CEO & VP Exploration of the Company and is not, therefore, 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. in Economic Geology from the University of Witwatersrand, South Africa, and is a Fellow of the Geological Society of South Africa (GSSA).