TIDMPREM
RNS Number : 8430G
Premier African Minerals Limited
30 November 2020
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
30 November 2020
Premier African Minerals Limited
Positive Gold Assay Results from Ligonha Gold Project
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to report assay results from recent sampling pursuant to a
site visit and preliminary geological review of the recently
acquired Mozambique tenement, as set out in our RNS of 28 July 2020
and 1 September 2020.
Highlights
-- Best grade of 23.7 g/t gold in Sample BE003711 (see Table 1
below), a quartz vein sample from an artisanal mining pit
-- Several alluvial samples carry grades between 1.11g/t gold
(Sample ID: BE003722) and 1.72 g/t gold (Sample ID: BE003728)
George Roach, Chief Executive of Premier commented, "This
remains an early stage exploration and no resource conclusions may
be drawn at this time. The tenement area remains small, but
applications are in process to expand the area on anticipated
strike. The detection of gold in many samples taken and the
specific location of the higher-grade samples is encouraging and
supports our plans to expand exploration in this jurisdiction.
Worth noting are the elevated grades of silver in all samples and
the potential commercial significance of this in any future mine
development.
At the same time, Premier has proceeded with other prospecting
applications in other areas in the Nampula province of Mozambique
where active artisanal mining is taking place and is evaluating
further similar areas of activity remote from this existing
tenement but in the same administrative district of Zambezi
Province. There is good reason to expect that Mozambique is likely
to be one of the gold exploration districts Premier is expanding
into as we mitigate historic country risk.
I am conscious that shareholders anticipate further updates and
developments, and these will be forthcoming in the near
future".
Geological setting and Assay Conclusion
Premier's Mozambique tenement was acquired in June 2020 and
comprises a 100-hectare block located within the Alto Ligonha
Pegmatite Province of Mozambique, which is largely located in the
NNE - SSW trending Namama Thrust Belt which extends from Mocuba in
the southwest to approximately 100km northeast of Alto Molocue in
the northeast in the Zambézia Province of northern Mozambique.
Artisanal workings were identified within the project area and
the existing artisanal miners exploit narrow auriferous quartz
veins with visible gold in a number of E-W trending pits. Host rock
is mainly a banded biotite gneiss. Other miners extract small gold
particles from eluvial sediments above primary, i.e. bedrock,
mineralization, or, from alluvial, i.e. riverbed, sediments.
The limited analytical data to date point to free gold bearing
quartz veins with small amounts of sulfides such as pyrite,
chalcopyrite and arsenopyrite. All samples, including the alluvial
and eluvial samples, contain elevated grades of silver, ranging
from 8g/t to 45 g/t silver. No other elements of economic
significance have been detected in these initial assay results.
Table 1: Assay Results
Assay Identity Au (g/t) Ag (ppm)
BE003701 0.06 12.8
--------- ---------
BE003702 0.03 13.3
--------- ---------
BE003703 0.22 11.8
--------- ---------
BE003704 0.14 12.2
--------- ---------
BE003705 0.09 12.3
--------- ---------
BE003706 0.04 10.1
--------- ---------
BE003707 0.04 13.4
--------- ---------
BE003708 0.05 13.7
--------- ---------
BE003709 0.07 14.3
--------- ---------
BE003710 10.3 12.6
--------- ---------
BE003711 23.7 13.4
--------- ---------
BE003712 2.01 20.3
--------- ---------
BE003713 0.25 8.8
--------- ---------
BE003714 0.2 11.3
--------- ---------
BE003715 0.29 13.9
--------- ---------
BE003716 0.11 18.1
--------- ---------
BE003717 0.46 15.5
--------- ---------
BE003718 0.06 12.9
--------- ---------
BE003719 0.06 13.2
--------- ---------
BE003720 0.29 14.8
--------- ---------
BE003721 0.07 21.6
--------- ---------
BE003722 1.11 14.2
--------- ---------
BE003723 0.31 13.5
--------- ---------
BE003724 0.05 12.8
--------- ---------
BE003725 0.04 16.1
--------- ---------
BE003726 0.05 20.5
--------- ---------
BE003727 0.06 13.2
--------- ---------
BE003728 1.72 15.3
--------- ---------
BE003729 1.31 20.8
--------- ---------
BE003730 0.04 20.8
--------- ---------
BE003731 0.04 14
--------- ---------
BE003732 0.06 11
--------- ---------
BE003733 0.05 18.1
--------- ---------
BE003734 0.04 45.5
--------- ---------
BE003735 0.04 13
--------- ---------
BE003736 2.11 11.2
--------- ---------
BE003737 0.06 12.9
--------- ---------
BE003738 0.08 12
--------- ---------
BE003739 0.06 19.5
--------- ---------
Quality Assurance/Quality Control (QA/QC)
The spatial location of the samples is derived by using a Global
Positioning System device within the existing and historical
artisanal gold mining activity within the tenement area. All
samples were analysed for gold by SGS Laboratory Services in South
Africa using fire assay (SGS code FAA303). Multi-element scans (30
elements) were carried out by ICP-OS and ICP-MS after sodium
peroxide fusion (SGS code ICM90A).
Qualified Person
Wolfgang Hampel, Senior Geologist with Premier African Minerals
Limited, has reviewed and approved this release. Mr Hampel has 29
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:
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
----------------------------------- --------------------------
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.
Glossary
"Ag" Silver
"alluvial" A placer deposit formed by the action of running water,
as in a stream channel or alluvial fan; also said
of the valuable mineral, e.g., gold or diamond, associated
with an alluvial placer
"eluvial" An incoherent mineral deposit, such as a placer, 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
"Au" Gold
"g/t" Grams per tonne gold.
"ppm" Parts per million.
ENDS
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