Premier African Minerals Limited Six new Pegmatite Zones Discovered at Zulu (3426L)

TIDMPREM

RNS Number : 3426L

Premier African Minerals Limited

18 July 2017

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

For immediate release

18 July 2017

Premier African Minerals Limited

("Premier" or the "Company")

Six new Pegmatite Zones Discovered at Zulu

Premier African Minerals Limited (AIM: PREM), the London quoted mining exploration and production company, is pleased to report that six new significant pegmatites zones have been discovered at the Zulu Lithium and Tantalum project ("Zulu") during a field reconnaissance programme focussed on the eastern part of the license area.

Highlights:

   --     Six new significant pegmatite zones discovered 
   --     Drilling programme continues to intersect high grade petalite and spodumene mineralisation 

A concerted field reconnaissance programme focused on the eastern part of the 3.5km(2) license area at Zulu has discovered six new pegmatite zones with true widths of up to 13 metres. Five zones are located up to 500m from the main zone, two of them appear to be trending in east-westerly direction, three others trend NW-SE. The sixth zone seems to be the northern continuation of the main pegmatite zone and is off-set from this by a fault. The discovery was recently made when farmers harvested the land in the eastern part of the license area and this part of the license area with very few outcrops, became accessible. The Company is now looking at further exploration efforts on these new zones to establish the continuation as well depth extensions.

Drilling at Zulu

The Company has completed another 11 drill holes, since completion of the initial 2,500 metres drilling programme that resulted in the Maiden Mineral Resource Estimate at Zulu of 20.1 million tonnes grading 1.06% Li O (as announced on 6 June 2017). The current drilling programme is focussed on expanding as well as upgrading the resources in the Main Zone. All of the 11 new drill holes have intersected mineralisation with the best intersection so far of 10m true width with high grade petalite and spodumene mineralisation. To date, 96 samples have been sent to SGS for analysis and a further 130 samples from 4 drill holes will be submitted in due course. Sample preparation for the other holes is ongoing at the company's RHA Tungsten Mine sample preparation facilities.

George Roach, Premier's CEO, commented:

"These new discoveries when looked at in the context of the already very substantial maiden resource estimate and exploration target in the main zone, are just another step in the process of exploring what we believe to be one of the best hard rock lithium exploration projects today. Premier continues discussions with interested parties as previously reported and will update on this and assay results as they come to hand."

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 26 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.

Enquiries:

 
                           Premier African              Tel: [phone] 
 Fuad Sillem                Minerals Limited             922074 
------------------------  ---------------------------  ----------------- 
 Michael Cornish           Beaumont Cornish             Tel: +44 (0) 
  / Roland Cornish          Limited                      20 7628 3396 
                            (Nominated Adviser) 
------------------------  ---------------------------  ----------------- 
 Jerry Keen/Edward         Shore Capital Stockbrokers   Tel: +44 (0) 
  Mansfield                 Limited                      20 7408 4090 
------------------------  ---------------------------  ----------------- 
                           Beaufort Securities          Tel: +44 (0) 
 Jon Belliss                Limited                      20 7382 8300 
------------------------  ---------------------------  ----------------- 
 Charles Goodwin/Harriet   Yellow Jersey PR             Tel: +44 (0) 
  Jackson                   Limited                      07544 275 882 
------------------------  ---------------------------  ----------------- 
 

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 include 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 recently acquired a 52% controlling stake in Mozambique-based TCT Industrias Florestais Limitada, which owns a substantial limestone deposit and forestry business located on rail in the Sofala Province of Mozambique. In addition, the Company holds 2,649,333 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$5.2 million based on the latest price at which Circum has accepted subscriptions. Premier also has an interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.2 million ounce inferred resource Akyanga gold deposit in the DRC.

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.

Glossary of Technical Terms

"Li(2) O" means Lithium oxide

"lepidolite" is the mineral name for lithium bearing mica KLi(2) Al(Si(4) O(10) )(F,OH)(2) an important ore of lithium

"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(Si(4) O(10) ) an important ore of lithium

"spodumene" is the mineral name for lithium aluminium silicate LiAlSi(2) O(6) an important ore of lithium.

ENDS

This information is provided by RNS

The company news service from the London Stock Exchange

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