Premier African Minerals Limited Update - Current Diamond Drilling Programme (1646N)

TIDMPREM

RNS Number : 1646N

Premier African Minerals Limited

21 October 2016

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

21 October 2016

Premier African Minerals Limited

("Premier" or the "Company")

Stellar Tantalum Grades in Early Results from the Zulu Lithium and Tantalum Project

Update - Current Diamond Drilling Programme

Premier African Minerals Limited (AIM: PREM), the London quoted mining exploration and production company, is pleased to report that significant tantalum grades have been recorded from the current 2,500 meter drilling programme at the company's Zulu Lithium and Tantalum Project ("Zulu") in Zimbabwe.

Highlights

-- Significantly elevated tantalum (Ta(2) O(5) ) grades encountered in all holes sampled to date, with grades reported as high as 706 ppm Ta(2) O(5) in borehole ZDD 14.

   --     Massive lithium enriched mineralised intersections in excess of 40 meters in hole ZDD-05. 

George Roach, Premier's CEO, commented:

"These interim results are extremely encouraging and support the company's view that Zulu has the potential to be one of the best hard rock lithium projects today. The tantalum grades are even more significant when compared to the bell-weather Pilgangoora Lithium-Tantalum deposit, which is currently being developed in Australia by Pilbara Minerals Ltd and has reported generally lower tantalum grades than the current Zulu results received to date in their latest reserve statement in August 2016. Pilbara Minerals report that their Proved and Probable Ore Reserve are 69.8 million tonnes grading 1.26% Li2O (Spodumene) and 132ppm Ta(2) O(5) . We eagerly await the lithium assays from the South African labs."

Elevated Tantalum Results

The Niobium (Nb(2) O(5) ) and Tantalum (Ta(2) O(5) ) results received to date are set out in the table below. These results were assayed for niobium and tantalum at the Company's laboratory using a calibrated desk mounted XRF. The fact that Ta(2) O(5) grade is significantly higher than Nb(2) O(5) indicates that the Zulu pegmatites are highly differentiated pegmatites. Highly differentiated pegmatites have the best potential for high grade Lithium, Tantalum and Cesium mineralisation.

 
 DDH               From        To          Length      Nb(2)    Ta(2) 
                                            (Meters)    O(5)     O(5) 
                                            *) 
  Number            (Metres)    (Metres)                (ppm)    (ppm) 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            11.00       11.34       0.34        77       290 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            11.59       14.15       2.56        74       216 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            14.15       19.05       4.90        62       178 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            19.05       20.08       1.03        164      457 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            20.08       20.75       0.67        230      706 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            35.42       35.93       0.51        98       237 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            36.09       36.57       0.48        91       216 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            37.00       37.43       0.43        75       301 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            44.17       46.66       2.49        80       125 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-14            51.66       52.34       0.68        72       147 
----------------  ----------  ----------  ----------  -------  ------- 
 Total Interval                            14.09 
----------------  ----------  ----------  ----------  -------  ------- 
 ZULU-003          14.60       19.00       4.40        124      133 
----------------  ----------  ----------  ----------  -------  ------- 
 ZULU-003          28.40       31.60       3.20        112      158 
----------------  ----------  ----------  ----------  -------  ------- 
 ZULU-003          34.20       34.60       0.40        72       211 
----------------  ----------  ----------  ----------  -------  ------- 
 Total Interval                            8.00 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            18.45       19.55       1.10        60       193 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            20.25       21.33       1.08        104      244 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            25.39       25.79       0.40        107      168 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            27.73       30.64       2.91        129      150 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            30.74       35.95       5.21        114      216 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            40.80       45.50       4.70        90       156 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            46.22       48.80       2.58        88       132 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            51.79       54.22       2.43        107      145 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            54.82       55.72       0.90        43       177 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            56.48       58.78       2.30        74       153 
----------------  ----------  ----------  ----------  -------  ------- 
 ZDD-16            107.95      108.46      0.51        61       178 
----------------  ----------  ----------  ----------  -------  ------- 
 Total Interval                            24.12 
----------------  ----------  ----------  ----------  -------  ------- 
 

*) drilled widths

Massive Mineralised Intersections

Bore hole ZDD-05 is the latest bore hole to intersect massive intersections of visible spodumene/petalite mineralisation. The table below sets out the Intersections from surface.

 
 DDH        From        To          Length 
  Number     (Metres)    (Metres)    (Meters)*) 
---------  ----------  ----------  ------------ 
 ZDD-05     63.16       69.08       5.92 
---------  ----------  ----------  ------------ 
 ZDD-05     79.60       80.66       1.60 
---------  ----------  ----------  ------------ 
 ZDD-05     104.04      104.98      0.94 
---------  ----------  ----------  ------------ 
 ZDD-05     107.10      115.89      8.79 
---------  ----------  ----------  ------------ 
 ZDD-05     117.02      121.00      3.98 
---------  ----------  ----------  ------------ 
 ZDD-05     124.00      142.38      18.38**) 
---------  ----------  ----------  ------------ 
 

*) drilled widths

**) and still in mineralisation

From surface showings, our technical team anticipated one massive 5-6m intersection as well as a number of narrow intersections in the footwall. The hole was intended to finish at a depth of 125m but drilling will continue until it passes through the ore body. These intersections as well as the fact that mineralisation remains open at depth underlines Zulu's potential.

Eucryptite identified in ZDD 16.

Eucryptite is a lithium bearing aluminium silicate mineral with formula LiAlSiO(4.) Its typical occurrence is in lithium-rich pegmatites in association with albite, spodumene, petalite, amblygonite, lepidolite and quartz.. The mineral contains some 11.8% Lithium Oxide (Li(2) O), (or 29% Lithium Carbonate Equivalent (LCE)) compared to 8% (19,78% LCE) in spodumene and 4.5% (11,13% LCE) in petalite. It is a secondary mineral derived from spodumene and is likely to occur coincidental to fault zones that are common in the Zulu pegmatites.

About Tantalum

The primary source of tantalum is from minerals such as tantalite, columbite, wodginite and microlite contained in pegmatite ore bodies and/or alluvial and eluvial sediments. It is predominantly used is in capacitors for consumer electronics, particularly where long battery life and high performance is required such as smart phones, tablets and laptops. Tantalite concentrate is currently trading in excess of US$120 per kg.

Sampling and Assaying Procedures

The drill cores were recorded and logged. The cores were then sawn and one quarter of the core was submitted to the Company's own laboratory for sample preparation. After crushing the entire sample to -6mm, approximately 200 g were split off and pulverised. A 50 g split off sample is submitted to SGS South Africa for a multi-element scan using sodium peroxide fusion followed by ICP-OES/ICP-MS. 12% of the submitted samples are check samples including blanks and duplicates. A further split off of every sample was assayed for niobium and tantalum at the Company's laboratory using a calibrated desk mounted XRF. These results were corrected by using samples with well-defined niobium and tantalum grades as standards.

Qualified Person:

Wolfgang Hampel, Exploration Manager of Premier African Minerals Limited has reviewed and approved this release to the extent that reference is made to the Zulu tenements. Mr Hampel has 25 years' experience in the African, American, European and Asian exploration and mining industry and holds a Diploma in Economic Geology (Dipl.-Geol.) from the Technical University of Munich. He is a registered European Geologist (EurGeol), ndeg 1261, with the European Federation of Geologists.

Forward Looking Statements:

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identi ed by their use of terms and phrases such as "believe", "could", "should" "envisage", "estimate", "intend", "may", "plan", "will" or the negative of those, variations or comparable expressions, including references to assumptions. These forward looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements re ect the Directors' current beliefs and assumptions and are based on information currently available to the Directors. A number of factors could cause actual results to differ materially from the results discussed in the forward looking statements including risks associated with vulnerability to general economic and business conditions, competition, environmental and other regulatory changes, actions by governmental authorities, the availability of capital markets, reliance on key personnel, uninsured and underinsured losses and other factors, many of which are beyond the control of the Company. Although any forward looking statements contained in this announcement are based upon what the Directors believe to be reasonable assumptions, the Company cannot assure investors that actual results will be consistent with such forward looking statements.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
                         Premier African Minerals     Tel: [phone] 
 Fuad Sillem              Limited                      922074 
----------------------  ---------------------------  ------------------ 
 Michael Cornish         Beaumont Cornish             Tel: +44 (0) 207 
  / Roland Cornish        Limited                      628 3396 
                          (Nominated Adviser) 
----------------------  ---------------------------  ------------------ 
 Jerry Keen/Edward       Shore Capital Stockbrokers   Tel: +44 (0) 207 
  Mansfield               Limited                      408 4090 
----------------------  ---------------------------  ------------------ 
 Charles Goodwin/Aidan 
  Stanley /Dominic       Yellow Jersey PR             Tel: [phone] 
  Barretto                Limited                      085 670 
----------------------  ---------------------------  ------------------ 
 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Benin, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company also holds 2 million shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$4 million based on the latest price at which Circum has accepted subscriptions.

For more information on Pilbara Minerals Ltd, please visit:

http://www.pilbaraminerals.com.au/pilgangoora-lithium-tantalum-project

Glossary of Technical Terms

"eluvial" is said of an incoherent mineral deposit resulting from the decomposition or disintegration of rock in place. The material may have slumped or washed downslope for a short distance but has not been transported by a stream.

"lepidolite" is the mineral name for lithium bearing mica KLi2Al (Si4O10), (F,OH)2 an important ore of lithium

"Li2O" means Lithium oxide

"Nb2O5" is diniobium pentoxide

"pegmatite" is an exceptionally coarse-grained igneous rock, with interlocking crystals, usually found as irregular dikes, lenses, or veins, esp. at the margins of granitic intrusions

"petalite" is the mineral name for lithium aluminium silicate LiAl(Si4O10) an important ore of lithium

"spodumene" is the mineral name for lithium aluminium silicate LiAlSi2O6 an important ore of lithium.

"Ta2O5" is ditantalum pentoxide

"tantalite" a mostly dark grey to black mineral, iron bearing varieties are called ferrotantalite or tantalite-Fe ; a major tantalum ore.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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October 21, 2016 04:00 ET (08:00 GMT)