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Share Name Share Symbol Market Type Share ISIN Share Description
Premier African Minerals Limited LSE:PREM London Ordinary Share VGG7223M1005 ORD NPV (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.0025 -1.33% 0.185 0.18 0.19 0.1875 0.18 0.1875 79,147,546 15:29:11
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Mining 0.0 -1.0 -0.0 - 36

Premier African Minerals Limited Zulu Update

12/10/2021 12:00pm

UK Regulatory (RNS & others)


Premier African Minerals (LSE:PREM)
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RNS Number : 8151O

Premier African Minerals Limited

12 October 2021

12 October 2021

Premier African Minerals Limited

Zulu Update

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to provide this update on progress at Premier's Zulu Lithium and Tantalum ("Zulu") project in Zimbabwe and the first preliminary grade estimates using a laser induced breakdown spectroscopy ("LIBS") system.

Highlights:

-- Preliminary results from ZDD-52 (RNS 2 September 2021) for 13.39 M continuous mineralized section is 1.37% Li(2) O average grade across the entire width.

-- Highest grade between 54.32 M and 55.32 M is 2.16% and lowest grade between 44.13 M and 45.13 M is 1%.

   --      15 holes now complete with approximately 2,735 M drilled to date. 

-- Two rigs, with a night shift component now operating with one focused on geotechnical requirements for the Feasibility Study ("DFS") currently underway.

George Roach, CEO commented ,"The preliminary results above are the first obtained from use of our LIBS system at site. The results are preliminary and subject to confirmation by independent certified laboratory analysis using industry accepted analytical methods for Lithium. Use of the LIBS system has only been possible through the fully compliant sample preparation set up at Zulu and is expected to expedite results and provide guidance to our resource development and ongoing drilling program. The LIBS system in use at Zulu has been calibrated using certified reference material and provides a high level of confidence in the results obtained.

It is particularly pleasing that this intersection is from an area not previously included in our existing resource statement but was forecast as an exploration target. More encouraging and most pleasing is the apparent consistent average grade across what is a wide intersection. Our team at Zulu are heavily engaged in core cutting and sample preparation for the many wide intersections encountered in the completed holes and we are hugely excited to see these results and look forward to consistent reporting and early confirmation from independent laboratories, allowing for potential upgrading of the overall resource tonnage.

Exploration activity is ongoing over the extended Exclusive Prospecting Order Area ("EPO") and will now also extend to look at gold potential in the region of the flooded shaft located within the EPO. Historic dumps at site hold potential to be assessed as much as a proper examination of the existing developments when we are able to dewater the mine.

Further updates will follow".

Drilling at Zulu:

The Company has now completed a 15 drill holes, equivalent to approximately 2,735 M since the start of the DFS programme. The current drilling programme is focussed on expanding as well as upgrading the resources in the Main Zone, and, to delineate further the Lithium mineralisation in the step out zones.

Lithium Results:

The table below sets out the preliminary results from hole ZDD-52. The analysis has been prepared at the Company's sample preparation facilities with the use of a LIBS system at site. The results are subject to confirmation by independent certified laboratory assays using industry accepted analytical methods for Lithium:

Table 1. Recent Drill Results.

 
 Drill        Azimuth   Dip   Total length   From    To (M)   Interval length    Li(2) 
  hole                             (M)        (M)              (M)*               O (%) 
 ZDD-52       225       60        190        41.93   55.32    13.39             1.37% 
             --------  ----  -------------  ------  -------  ----------------  -------- 
 Including                                   44.13   45.13    1.0               1.0% 
             --------  ----  -------------  ------  -------  ----------------  -------- 
                                             54.32   55.32    1.0               2.16% 
             --------  ----  -------------  ------  -------  ----------------  -------- 
 * Drilled widths 
 

Qualified Person:

Chris Male, Geologist with Premier, has reviewed and approved this release to the extent that reference is made to the Zulu. Mr. Male is a SACNASP and GSSA registered geoscientist with 13 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.

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 holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.

Enquiries:

 
 George Roach                        Premier African Minerals Limited    Tel: +27 (0) 100 201 281 
 Michael Cornish / Roland Cornish        Beaumont Cornish Limited        Tel: +44 (0) 20 7628 3396 
                                            (Nominated Adviser) 
                                   -----------------------------------  -------------------------- 
 Jerry Keen/Edward Mansfield        Shore Capital Stockbrokers Limited   Tel: +44 (0) 20 7408 4090 
 Matthew Bonner                              EAS Advisors LLC            Tel: +1 646 495 2225 
                                   -----------------------------------  -------------------------- 
 

Glossary of Technical Terms:

 
 "Li"     Lithium. 
 "Li(2)   Lithium Oxide and is the standard referenced in our 
  O"       Mineral Resource Estimate. 
 "LIBS"   Laser Induced Breakdown Spectroscopy 
           https://sciaps.com/libs-handheld-laser-analyzers/z-300/ 
           . 
 "M"      Meters. 
 

Ends

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END

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