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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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.0205 | 0.018 | 0.023 | 0.0205 | 0.0205 | 0.0205 | 0 | 06:37:56 |
From Feb 2023 to Feb 2025
TIDMPREM
RNS Number : 1149R
Premier African Minerals Limited
27 February 2023
27 February 2023
Premier African Minerals Limited
Zulu Assay Results
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.
George Roach, CEO commented , "We continue to see good intersections within the main spodumene rich pegmatite that are both encouraging for the long term and supportive of our decision to commence operations with the large-scale pilot plant as we have done."
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 ZDD021, ZDD047, ZDD048, MDI-GT-01A, MDI-GT-02, ZDD151, & ZDD154 .
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
ZDD021 34.90 37.02 2.12 0.64 43 1181
------------ ------- ------- ------- ------ ---------- -------
ZDD021 42.26 46.38 4.12 0.79 14 1619
------------ ------- ------- ------- ------ ---------- -------
ZDD047 84.24 89.24 5.00 1.49 79 900
------------ ------- ------- ------- ------ ---------- -------
ZDD047 106.08 110.08 4.00 1.52 40 592
------------ ------- ------- ------- ------ ---------- -------
ZDD047 118.23 127.00 8.77 1.00 73 1142
Incl. 123.00 126.00 3.00 1.66 80 1252
------------ ------- ------- ------- ------ ---------- -------
ZDD048 38.40 40.40 2.00 0.80 126 450
------------ ------- ------- ------- ------ ---------- -------
ZDD048 47.06 56.18 9.12 0.86 68 1367
Incl. 49.00 50.00 1.00 2.68 96 435
------------ ------- ------- ------- ------ ---------- -------
ZDD048 119.36 122.36 3.00 1.08 75 750
------------ ------- ------- ------- ------ ---------- -------
ZDD048 133.36 149.36 16.00 0.82 43 1134
Incl. 133.36 134.36 1.00 1.67 7 937
Incl. 136.36 137.36 1.00 2.23 40 656
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-01A 19.94 28.94 9.00 1.41 35 1474
Incl. 19.94 20.94 1.00 2.23 26 316
Incl. 21.94 22.94 1.00 2.20 16 846
Incl. 23.94 24.94 1.00 3.05 35 1022
MDI-GT-01A 44.68 46.96 2.28 0.53 32 1750
------- ------- ------- ------ ----------
MDI-GT-01A 53.59 55.59 2.00 0.75 33 4254
MDI-GT-02 18.86 22.86 4.00 1.00 52 1318
Incl. 19.86 21.86 2 2.14 45 1351
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-02 30.62 33.62 3.00 1.70 30 2135
Incl. 31.62 32.62 1.00 2.88 8 1786
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-02 37.63 40.62 2.99 0.98 40 1872
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-02 46.51 62.93 16.42 1.43 33 1999
Incl. 46.93 47.93 1.00 2.20 32 2177
Incl. 51.93 55.93 4.00 2.53 38 1517
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-02 84.44 86.44 2.00 0.73 81 2196
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-02 97.26 102.17 4.91 1.50 43 2660
------------ ------- ------- ------- ------ ---------- -------
ZDD151 184.26 216.77 32.51 1.56 129 1666
Incl. 189.26 190.26 1.00 2.56 156 812
Incl. 196.26 197.26 1.00 2.88 103 1513
Incl. 209.54 210.54 1.00 2.57 154 1130
------------ ------- ------- ------- ------ ---------- -------
ZDD151 267.55 283.86 16.31 1.49 95 1851
Incl. 275.55 277.55 2 2.93 67 961
------------ ------- ------- ------- ------ ---------- -------
ZDD154 110.30 112.45 2.15 1.18 79 482
------------ ------- ------- ------- ------ ---------- -------
*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
)
ZDD021 751438.462 7783147.247 1339.594 341.44 -60.4 120.48
----------- ------------ ---------- ---------- ------- -------
ZDD047 751352.710 7782103.348 1309.051 26.38 -59.2 160.23
----------- ------------ ---------- ---------- ------- -------
ZDD048 751356.133 7782103.526 1309.026 277.58 -60 160.28
----------- ------------ ---------- ---------- ------- -------
MDI-GT-01A 751464.291 7783279.273 1355.150 200.27 -70.23 150.00
----------- ------------ ---------- ---------- ------- -------
MDI-GT-02 751366.102 7783111.157 1350.944 187.99 -69.84 202.93
----------- ------------ ---------- ---------- ------- -------
ZDD151 750809.107 7782183.866 1326.535 112.8 -49.53 308.54
----------- ------------ ---------- ---------- ------- -------
ZDD154 751077.739 7782108.867 1320.744 291.6 -53.56 291.6
----------- ------------ ---------- ---------- ------- -------
* 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 *
------------ ------------- -------------- ------------
* Heavy rains have delayed completion of the trenching programme
** Resource in-fill drilling scheduled to recommence in March
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) 7,853
# QA/QC samples analysed 1,113
------
Sample pulps at SGS Randfontein
awaiting analysis 862
------
Sample pulps ready to be shipped
to SGS 0
------
Samples being pulped at Antec 392
------
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 Tel: +44 (0) 20 7408 4090
Limited
--------------------------- --------------------------
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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MSCPPUCCPUPWUAM
(END) Dow Jones Newswires
February 27, 2023 02:00 ET (07:00 GMT)
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