Premier African Minerals Limited Six new Pegmatite Zones Discovered at Zulu (3426L)
18 July 2017 - 4:05PM
UK Regulatory
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: +44 (0)7734
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
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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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