Johannesburg, South Africa — MININGREVIEW.COM — 06 October 2010 – Niger Uranium Limited “’ a company which seeks out uranium mining opportunities around the world as an active investor and project developer “’ is to invest up to R25 million in a nickel exploration joint venture in South Africa and Zimbabwe.
Revealing this in a statement issued here, the company explained that it had established a joint venture with Southern African Nickel Limited (SAN) “’ joint owner and current developer of a portfolio of large nickel projects in Southern Africa “’ and had committed to making its investment over the next 20 months.
The statement added that the company believed its joint venture nickel projects had the potential to host large, low-grade, economic, open-pittable sulphide-nickel mineralisation.
Flagship target was the Burgersfort project in the Mpumalanga province of South Africa, where preliminary results based on previous data and recent geophysics had identified a number of shallow nickel targets and three deeper targets for massive sulphide mineralisation. Further large nickel targets were being pursued by the joint venture in the Bushveld region, the statement said.
The SAN portfolio also included purchase options over nickel projects in Zimbabwe, where a large low-grade deposit was targeted, as well as other mine dump projects.
The statement also revealed that implementation of the joint venture’s exploration programmes, sampling and metallurgical evaluation had been sub-contracted to Pangea Exploration (Pty) Limited (PAN) “’ a South African-based mineral resource exploration company.
Commenting on the joint venture, Niger Uranium non-executive chairman Paul Loudon said the combination of SAN and Panex’s proven track records provided the potential for significant value creation. “We intend that the joint venture would be developed into a separately listed nickel entity in the next ten months,” he added.