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| Name | Symbol | Market | Type |
|---|---|---|---|
| Premier African Minerals Limited | AQSE:PREM.GB | Aquis Stock Exchange | Equity Warrant |
| Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.005 | 9.62% | 0.057 | 0.052 | 0.062 | 0.057 | 0.052 | 0.052 | 0 | 08:02:58 |
From Dec 2022 to Dec 2024
TIDMPREM
RNS Number : 1757O
Premier African Minerals Limited
30 January 2023
30 January 2023
Premier African Minerals Limited
Zulu Assay Results and Pilot Plant Update
Premier African Minerals Limited ("Premier" or the "Company"), is pleased to report on assay results at Premier's Zulu Lithium and Tantalum Project ("Zulu"). These results are from boreholes that are located within the area planned to be mined under operation of the Pilot Plant and will constitute a portion of the Mineral Resource update required to support the DFS.
Highlights:
-- Multiple thick high-grade zones intersected. -- Consistent progress in construction of the Pilot Plant
George Roach, CEO commented , "The assay results reported on today continue to demonstrate good lithium values over significant widths that are all supportive of the quality of the mineralised pegmatites we intend to mine in the first phases of the pilot plant operations.
We are into the home stretch with pilot plant construction and site activity is frenetic with multiple work streams all targeting the same near-term completion date. Pre-strip has commenced in the initial pit area to be developed. Activity in the pilot plant assembly areas is now on a 24/7 basis. In the absence of any unforeseen issue, I expect that first shipments of SC6 will commence in Q1 as projected.
We still have a significant backlog of assay results and continue to develop a mining model for the pilot plant that is expected to deliver run of mine material from pegmatites that are dominated by spodumene. Whilst I am not in a position to provide direct guidance yet, it should be noted that the design capacity on the floatation circuit anticipates a mass pull of up to 30% at a design feed rate of 40 tons per hour of milled material. This represents a potential 12 ton per hour of spodumene rich concentrate. Until the plant operates, it is not possible to accurately predict either the feed grade of spodumene rich material reaching the floatation circuit, nor to predict the final concentrate grade, or final tonnage production rate. That is the nature of a pilot plant. I will provide further updates over the coming weeks.
I would like to take this opportunity to thank the Chairman of Suzhou TA&A, Mr Pei Zenzhue, for visiting Zulu in January 2023 and expressing his satisfaction with the progress we are making. We look forward to an exciting year".
Drill Holes: Lithium & Tantalum Results
The table below sets out the composites determined, as per the outlined compositing routine in the text below the table, from analyses received from the independent external laboratory (SGS) for holes GT-NP-03, ZDD003, ZDD010, ZDD013, ZDD015, ZDD016, ZDD019, ZDD023, ZDD027-2, ZDD029, ZDD030, ZDD032, ZDD037, ZDD038, ZDD039 & ZDD045.
Table 1 -Assay Summary Results
Hot Features
Premium
Hole From To (m Width* Li(2) Ta(2) Rb ppm
(m) (m) O% O(5) ppm
GT-NP-03 167.12 169.46 2.34 0.81 64 1902
---------- ------- ------- ------- ------ ---------- -------
ZDD003 24.38 33.14 8.76 1.64 16 1687
Incl. 29.14 32.14 3.00 2.62 15 1128
---------- ------- ------- ------- ------ ---------- -------
ZDD003 40.15 44.87 4.72 1.55 19 2134
---------- ------- ------- ------- ------ ---------- -------
ZDD003 51.23 54.15 2.92 1.00 73 2109
Incl. 51.23 52.23 1.00 1.69 84 1787
---------- ------- ------- ------- ------ ---------- -------
ZDD010 81.58 84.41 2.83 0.76 30 3015
---------- ------- ------- ------- ------ ---------- -------
ZDD010 97.34 99.50 2.16 1.39 30 3165
---------- ------- ------- ------- ------ ---------- -------
ZDD010 100.93 104.70 3.77 1.57 25 1611
---------- ------- ------- ------- ------ ---------- -------
ZDD010 111.34 117.73 6.39 1.09 35 2459
Incl. 116.30 117.30 1.00 2.00 48 2981
ZDD010 119.68 123.08 3.40 1.58 40 2873
------- ------- ------- ------ ----------
ZDD010 145.71 148.60 2.89 1.56 43 1742
---------- ------- ------- ------- ------ ---------- -------
ZDD013 111.86 114.37 2.51 1.46 16 1584
---------- ------- ------- ------- ------ ---------- -------
ZDD013 116.88 119.60 2.72 1.21 34 2636
---------- ------- ------- ------- ------ ---------- -------
ZDD013 122.62 124.89 2.27 0.80 15 2049
---------- ------- ------- ------- ------ ---------- -------
ZDD013 134.18 137.12 2.94 1.00 13 2347
Incl. 135.18 136.18 1.00 1.55 21 2880
---------- ------- ------- ------- ------ ---------- -------
ZDD013 139.12 143.70 4.58 1.00 28 2154
Incl. 140.12 141.12 1.00 1.81 21 2452
---------- ------- ------- ------- ------ ---------- -------
ZDD015 73.61 79.23 5.62 0.98 42 1903
Incl. 75.61 76.61 1.00 1.66 34 1322
---------- ------- ------- ------- ------ ---------- -------
ZDD016 27.73 35.95 8.22 1.37 54 1457
Incl. 28.73 29.73 1.00 2.27 35 1271
Incl. 34.44 35.55 1.11 2.49 29 899
---------- ------- ------- ------- ------ ---------- -------
ZDD016 40.80 48.22 7.42 0.91 36 2170
Incl. 41.80 42.80 1.00 1.46 88 1891
Incl. 47.22 48.22 1.00 1.51 14 1673
---------- ------- ------- ------- ------ ---------- -------
ZDD016 51.79 58.48 6.69 1.29 53 1817
Incl. 54.82 55.92 1.10 2.22 15 516
---------- ------- ------- ------- ------ ---------- -------
ZDD019 34.87 36.87 2.00 0.60 106 2891
---------- ------- ------- ------- ------ ---------- -------
ZDD023 67.46 71.03 3.57 1.36 72 1837
---------- ------- ------- ------- ------ ---------- -------
ZDD023 113.46 117.46 4.00 1.58 18 1814
---------- ------- ------- ------- ------ ---------- -------
ZDD023 120.85 124.60 3.75 0.96 27 1957
---------- ------- ------- ------- ------ ---------- -------
ZDD027-2 114.45 124.45 10.00 1.17 115 1413
---------- ------- ------- ------- ------ ---------- -------
ZDD028 54.12 60.36 6.24 1.00 58 2069
Incl. 58.00 59.36 1.36 1.59 47 2326
---------- ------- ------- ------- ------ ---------- -------
ZDD029 22.58 24.58 2.00 1.05 24 1255
---------- ------- ------- ------- ------ ---------- -------
ZDD029 30.04 35.97 5.93 0.89 70 1280
Incl. 34.97 35.97 1.00 1.92 204 364
---------- ------- ------- ------- ------ ---------- -------
ZDD030 53.06 59.14 6.08 0.85 30 2687
---------- ------- ------- ------- ------ ---------- -------
ZDD032 81.12 84.20 3.08 0.90 95 1626
---------- ------- ------- ------- ------ ---------- -------
ZDD037 10.93 13.93 3.00 0.80 155 1448
---------- ------- ------- ------- ------ ---------- -------
ZDD037 20.25 32.58 12.33 1.29 64 1313
Incl. 20.60 21.60 1.00 2.25 72 1376
---------- ------- ------- ------- ------ ---------- -------
ZDD037 37.67 41.00 3.33 0.99 57 872
Incl. 38.67 39.67 1.00 1.88 59 913
---------- ------- ------- ------- ------ ---------- -------
ZDD037 46.68 53.55 6.87 1.09 85 1156
---------- ------- ------- ------- ------ ---------- -------
ZDD037 74.94 79.00 4.06 1.01 55 784
---------- ------- ------- ------- ------ ---------- -------
ZDD038 68.00 70.00 2.00 1.35 19 848
---------- ------- ------- ------- ------ ---------- -------
ZDD038 72.78 79.91 7.13 1.15 80 1029
Incl. 72.78 73.78 1.00 1.95 69 914
Incl. 78.91 79.91 1.00 1.76 28 1144
---------- ------- ------- ------- ------ ---------- -------
ZDD039 111.36 114.05 2.69 1.13 58 894
---------- ------- ------- ------- ------ ---------- -------
ZDD045 102.26 113.31 11.05 1.26 38 1581
Incl. 102.26 104.26 2.00 2.44 11 771
Incl. 108.26 109.26 1.00 2.92 11 1311
Incl. 112.26 113.31 1.05 1.91 94 730
---------- ------- ------- ------- ------ ---------- -------
ZDD045 120.69 143.00 22.31 1.41 37 1234
Incl. 121.69 122.69 1.00 2.27 84 161
Incl. 128.31 129.31 1.00 2.35 14 497
Incl. 134.00 138.00 4.00 2.31 12 684
Incl. 140.00 141.00 1.00 2.38 26 220
ZDD045 145.50 152.53 7.03 1.31 40 1752
---------- ------- ------- ------- ------ ---------- -------
*Not True Width but drilled width
**0.50% Li(2) O cut-off applied.
The following compositing routine has been applied:
-- 0.50% Li(2) O cut-off was applied to the pegmatitic
intersections only.
-- <2m standalone composites at the cut-off grade but with
an overall weighted average grade of >0.5% Li(2) O are
not reported.
-- Within any composite of >2m thickness, high-grade intersections
of 1m and greater are reported provided the high-grade
intersection is a multiple of x 1.5 of the overall weighted
composite grade, and
-- Within any composite, inclusions of country rock of
<2m thickness are included within the composite provided
the overall grade of the composite is not <0.50% Li(2)
O.
The following Table 3 sets out the drill hole collar coordinates for the drill holes reported in Table 1 above:
Table 2 - Drill Holes Collar Coordinates - This RNS
Dhole UTM 35S* UTM 35S* Elevation Azimuth Collar EOH
Easting Northing (AMSL) TN ( deg Dip (m)
) ( deg
)
GT-NP-03 751313.001 7782952.020 1334.161 16.98 -70 190.44
----------- ------------ ---------- ---------- ------- -------
ZDD003 751390.294 7783152.151 1352.511 129.74 -61.4 135.98
----------- ------------ ---------- ---------- ------- -------
ZDD010 751387.204 7783018.316 1333.003 339.54 -46 163.13
----------- ------------ ---------- ---------- ------- -------
ZDD013 751186.871 7782642.708 1323.252 296.04 -61.2 158.03
----------- ------------ ---------- ---------- ------- -------
ZDD015 751074.773 7782409.552 1319.483 152.44 -59 100.33
----------- ------------ ---------- ---------- ------- -------
ZDD016 751203.413 7782361.006 1312.172 195.34 -45.2 125.00
----------- ------------ ---------- ---------- ------- -------
ZDD019 751308.553 7784270.773 1344.508 134.24 -60.2 125.00
----------- ------------ ---------- ---------- ------- -------
ZDD023 751348.412 7783001.033 1334.493 340.24 -61.2 140.16
----------- ------------ ---------- ---------- ------- -------
ZDD027-2 751179.951 7782561.657 1318.667 161.04 -60.2 140.08
----------- ------------ ---------- ---------- ------- -------
ZDD028 751323.645 7782631.586 1320.917 225.54 -59.7 140.28
----------- ------------ ---------- ---------- ------- -------
ZDD029 751203.084 7782697.615 1328.882 343.14 -59.3 151.55
----------- ------------ ---------- ---------- ------- -------
ZDD030 751084.593 7782623.225 1316.967 114.34 -60 150.00
----------- ------------ ---------- ---------- ------- -------
ZDD032 751182.236 7782229.22 1315.339 281.54 -59.6 160.95
----------- ------------ ---------- ---------- ------- -------
ZDD037 751375.427 7782183.235 1310.078 225.28 -58.8 140.38
----------- ------------ ---------- ---------- ------- -------
ZDD038 751437.480 7782173.457 1311.838 234.08 -59 140.28
----------- ------------ ---------- ---------- ------- -------
ZDD039 751363.787 7781823.057 1307.616 114.78 -59.6 140.68
----------- ------------ ---------- ---------- ------- -------
ZDD045 751356.684 7782209.746 1309.944 251.88 -60.2 271.12
----------- ------------ ---------- ---------- ------- -------
* ARC1950 Datum (10m local datum shift)
Table 3 - Drilling & Trenching Progress
A summary of the number of drill holes completed both prior to and for the ongoing updated mineral resource estimate as part of the DFS is set out below:
PROGRAMME No of Drill Drill Metres No of Surface Trenched
Holes (m) Trenches Metres (m)
RST (1958) 7 903.90
------------ ------------- -------------- ------------
ZULU - Initial
Exploration 6 2,312.90
------------ ------------- -------------- ------------
ZULU - PEA 43 5,809.10
------------ ------------- -------------- ------------
ZULU - Pilot
Plant DFS 127 29,134.54 7 832.56
------------ ------------- -------------- ------------
ZULU - DFS (in
progress) 0 0 6
------------ ------------- -------------- ------------
Table 4 - Analytical Pipeline
A summary of the status of DFS drill core analysis is set out below:
Results received to date (excluding QA/QC
samples) 7140
# QA/QC samples analysed 1027
-----
Sample pulps at SGS Randfontein awaiting
analysis 1661
-----
Sample pulps ready to be shipped to SGS 0
-----
Samples being pulped at Antec 0
-----
Ongoing sampling of drill cores/trench
samples at site* 0
-----
*Estimate
Quality Assurance/Quality Control (QA/QC)
The drill holes are initially sited using a hand-held GPS (Global Positioning System device) within the tenement areas. Accurate coordinates and elevations of drill holes collars are subsequently derived from a DGPS (Differential Global Position devices) survey.
Drill cores are geologically logged, intersections of interest are selected are marked-up with unique sample ID assigned before splitting and sampling. Cores are cut in half using a core cutter, individual samples bagged, and sent for analysis.
Alternating Certified Refence Materials (CRM), blank or duplicate samples are inserted every 10(th) sample into the sample stream sent to the laboratory to ensure QA/QC compliance. These QA/QC samples are assessed upon receipt of analyses, checked and, if acceptable, accepted into the analytical database. Follow-up with the laboratory is instigated in cases were any QA/QC sample fails the QA/QC parameters.
Currently, drill core samples are crushed and pulverised at the Antec Laboratory, Zimbabwe to 85% passing -75 microns. Sample pulps are inspected for export in Harare by the competent government authorities and couriered to the SGS Laboratory Services in Randfontein, South Africa where pulps are fused with sodium peroxide and analysed by ICP-OES and ICP-MS to report 51-elements. (SGS code ICP90A50 & IMS90A50).
The Geology of Zulu
The area, located in the Fort Rixon Greenstone Belt, is underlain by Archaean-aged meta-volcanics and meta-sedimentary sequences of the Bulawayan Supergroup, with serpentinites and banded iron formations at the base in the east and metamorphosed volcano-sedimentary sequences to the west. The greenstone belt is tear drop shaped measuring 30 km long and 19 km wide near the broad section at the top. Metamorphism is retrograded to Greenschist facies.
The Zulu Pegmatite is a LCT (Lithium-Caesium-Tantalum) pegmatite swarm which intrudes along the contacts between serpentine and metamorphosed volcano-sedimentary sequences over a strike length of several kilometres. Outcrop widths vary between 10 and 50m. The pegmatite bodies strike N20deg and dip 70deg to 90deg to the west.
The area was first pegged in 1955 by J.S. Willemse and intensely explored, under option, by mapping, trenching and drilling by Rhodesian Selection Trust Co. Ltd. ("RST") in 1958. In 1961 and 1962 a small quantity of petalite from the River Pegmatites (see below) was mined by W. Burchett in partnership with J.S. Willemse. Premier later acquired the claims in 2013.
Recent mapping and interpretation of the pegmatite swarm from semi-quantitative X-Ray Diffraction (XRD) has identified three distinct phases of pegmatites. A spodumene-rich, thick pegmatite named the Main Zone which lies north and south of the Machakwe River, footwall low-spodumene pegmatites with associated tantalum and rubidium and a suite of petalite-bearing pegmatites of short strike length, named the River Pegmatites.
In general, the lithium minerals, occurring in varying quantities, are coarse grained with associated feldspars and quartz with only very minor sulphides being observed. In several contact zones, the lithium-bearing amphibole, holmquistite, has been observed.
Qualified Person
Bruce Cumming, geologist with Premier, has reviewed and approved this release to the extent that reference is made to Zulu. Mr. Cumming is a SACNASP and GSSA registered geoscientist with 46 years' experience in exploration and project management, in multicommodity projects throughout Africa.
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.
The person who arranged the release of this announcement on behalf of the Company was George Roach.
Enquiries:
George Roach Premier African Minerals
Limited Tel: +27 (0) 100 201 281
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20 7628 3396
Roland Cornish (Nominated Adviser)
--------------------------- --------------------------
John More/Toby Gibbs Shore Capital Stockbrokers
Limited Tel: +44 (0) 20 7408 4090
--------------------------- --------------------------
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.
Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.
The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company has a ccepted a share offer by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8% interest in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, for a 13.1% interest in the enlarged share capital of Vortex. Vortex has an interest of 36.7% in Circum .
In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.
Glossary of Technical Terms:
-------------------------------------------------------------------------------
"amphibole" A class of rock-forming silicate or aluminosilicate
minerals typically occurring as fibrous or columnar
crystals.
----------------------------------------------------------
"Banded Iron A sedimentary rock consisting of alternating layers
Formation (BIF)" of iron oxides and iron-poor chert.
----------------------------------------------------------
"DFS" Definitive Feasibility Study.
----------------------------------------------------------
"Greenschist The Greenschist facies is at low pressure and
facies" temperature. The facies is named for the typical
schistose texture of the rocks and green colour
of the minerals chlorite, epidote and actinolite.
----------------------------------------------------------
"feldspar" An aluminosilicate mineral consisting of potassium,
sodium, and calcium.
----------------------------------------------------------
"Holmquistite" A lithium-bearing amphibole related to hornblende
with a formula as (Na,K,Ca)Li(Mg,Fe)(3) Al(2)
Si(8) O(22) (OH)(2.)
----------------------------------------------------------
"ICP-OES" Inductively coupled plasma-optical emission spectroscopy.
----------------------------------------------------------
"ICP-MS" Inductively coupled plasma mass spectrometry.
----------------------------------------------------------
"Lepidolite" A pink to lavender coloured lithium bearing mineral
(KLi 2 Al(Si 4 O 10 )(F,OH) 2 ).
----------------------------------------------------------
"Li to Li2O" x 2.153.
----------------------------------------------------------
"Li" Lithium.
----------------------------------------------------------
"Li(2) O" Lithium Oxide (Lithia) - an inorganic lithium
compound used to assess lithium minerals.
----------------------------------------------------------
"m" Meters.
----------------------------------------------------------
"meta-sediments" Sedimentary rocks that have been metamorphosed.
----------------------------------------------------------
"meta-volcanics" Volcanic rocks that have been metamorphosed.
----------------------------------------------------------
"PEA" Preliminary Economic Study
----------------------------------------------------------
"Petalite" A white coloured lithium bearing mineral (LiAl(Si
4 O 10 )).
----------------------------------------------------------
"ppm" Parts per million.
----------------------------------------------------------
"Rb" Rubidium.
----------------------------------------------------------
"SC6" Is a high-purity lithium ore with approximately
6 percent lithium content being produced as a
raw material for the subsequent production of
lithium-ion batteries for electric vehicles
----------------------------------------------------------
"serpentinite" A dark, typically greenish metamorphic rock, consisting
of serpentine or related minerals, formed when
mafic igneous rocks are altered.
----------------------------------------------------------
"Spodumene" A white to pink coloured lithium bearing mineral
(LiAlSi 2 O 6 ).
----------------------------------------------------------
"Ta to Ta2O5" x 1.221.
----------------------------------------------------------
"Ta" Tantalum.
----------------------------------------------------------
"X-Ray Diffraction" X-ray diffraction (XRD) is a widely used technique
to assess the mineral assemblage, crystallinity
and structure of rocks, cores etc.
----------------------------------------------------------
LITHIUM CLASSIFICATION AND CONVERSION FACTORS
Lithium grades are normally presented in percentages or ppm. Grades of deposits are also expressed as lithium compounds in percentages, for example as a percent lithium oxide (Li (2) O) content. The standard conversion factors are set out in the table below:
Table: Conversion Factors for Lithium Compounds and Minerals
Convert from Convert to Convert to
Li Li (2) O
--------------- -------- ----------- -----------
Lithium Li 1.000 2.153
Li (2)
Lithium Oxide O 0.464 1.000
--------------- -------- ----------- -----------
Ends
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