TIDMPREM
RNS Number : 5519R
Premier African Minerals Limited
05 November 2021
5 November 2021
Premier African Minerals Limited
Zulu Drilling 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.
Highlights:
-- Preliminary drilling of first step out zones one and two now completed
-- Three rigs now operating
-- Geotechnical training of local technical staff completed
-- Geotechnical core logging and inspections have commenced, using industry standard operating procedures
-- Resource estimate update commenced
-- 19 bore holes now completed, and 3,231 meters drilled
-- Complete sample set from first 5 drill holes submitted to external laboratories for assay
George Roach, CEO commented ," We continue to make good progress
and visible mineralised intersections in core from drilling in the
main zone continue to add confidence to the original 20.1 million
tonnes inferred resource estimate already declared on 6 June 2017.
At the same time, preliminary drilling in the first two step out
zones has now completed and based on visible intersections and
observations by our geological team at site, and subject to assay
and modelling, we do expect that this will add substantially to the
existing resource estimate. The step out zones drilled to date form
extensions to the main ore body and had not formed part of the
original resource estimate.
Our sample preparation team at Zulu has been strengthened with a
second core cutting and management team and the commissioning of a
second primary laboratory crusher. It is worth noting that whilst
the act of analysing a prepared sample using the LIBS system is a
matter of seconds, the accuracy, repeatability and confidence in
that analysis is entirely dependent on the quality of the sample
prepared. Considerable time, effort and expertise goes into this,
over and above the care and effort associated with drilling through
particularly abrasive wide intersections of pegmatite.
On the one hand, this is frustratingly slow, but on the other,
it is indicative of widely dispersed pegmatite and wide
intersections of potentially mineralised material at Zulu. It
should also be noted that Premier only drills core and whilst this
is considerably slower and more expensive than other drilling
methods such as reverse circulation, the benefits include the
ability to better define the ore body, better identify
mineralisation and minerology, deal with geo-technical requirements
needed to support mine and pit design, and generally allow other
aspects of the Definitive Feasibility Study ("DFS") to proceed
simultaneously with the drilling programme.
We have submitted sample material from the first 5 bore holes to
independent laboratories for definitive assay and will be using
these results to specifically validate and calibrate our LIBS
system which will facilitate a better turn-around as we progress. I
do not have an indication of the time that the laboratory will
require to process the 159 samples submitted but I will update as
soon as I do.
At the same time, exploration activities in the wider Exclusive
Prospecting Area ("EPO") area continue and preliminary results of
spectral mapping and interpretation are generating anomalous areas
of further potential interest for ground follow up. Premier is not
restricted to any specific mineral within this EPO area, that is
known to include historic gold workings.
Upward price pressure on chemical grade spodumene for lithium
hydroxide production is pervasive and strongly supports our efforts
to optimise timelines to completion of our DFS, scheduled for Q3
2022.
Premier is in negotiations with interested parties that have
indicated an intention to consider a direct investment such that
the complete DFS program may be fully funded in return for
acquisition of a minority interest in the Zulu project. Premier
continues to consider all alternatives and options that may add
value and accelerate development of the project including further
direct funding. No agreement has been reached at this time in
regard to future funding for the balance of the DFS programme."
Drilling at Zulu:
The Company has now completed 19 drill holes, equivalent to
approximately 3,231 meters since the start of the DFS programme.
All bar one has intersected visible mineralisation. 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 zone.
It should be noted that constant near surface mineralisation
intersections occur throughout the Step-out Zones and due to the
fragmented nature of this weathered near-surface core, it is not
all reported in the summaries below. The location of the bore holes
now added and their relationship to the main zone can be viewed on
the webpage link below:
http://www.rns-pdf.londonstockexchange.com/rns/5519R_1-2021-11-5.pdf
Table 1. Recent Drill Results.
Hole Collar Coordinates Inclination End of
ID (UTM Arc 1950 Z35S) -( ) Hole Depth Major Intersections
(m)
Easting Northing Elevation Azimuth From (M) To Width
( ) (M)
-------- --------- ---------- --------- ------- ------
ZDD55 751237 7782438 1313 60 225 211,2 7,55 8,13 0,58
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
15,82 16,67 0,85
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
50,54 51,00 0,46
--------- ------- ------
58,10 64,28 6,18
--------- ------- ------
81,39 82,23 0,84
--------- ------- ------
90,92 91,46 0,54
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD54 751290 7782516 1316 60 225 180,3 62,62 62,72 0,10
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
129,68 129,96 0,28
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
134,11 134,30 0,19
--------- ------- ------
134,98 135,20 0,22
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD52 751293 7782408 1315 60 225 190 23,91 25,70 1,79
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
30,20 30,91 0,71
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
42,93 43,13 0,20
--------- ------- ------
47,32 59,47 12,15
--------- ------- ------
77,34 77,93 0,59
--------- ------- ------
170,54 176,05 5,51
--------- ------- ------
179,85 181,02 1,17
--------- ------- ------
182,24 183,52 1,28
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD50 751217 7782592 1319 60 225 180,3 11,46 12,06 0,60
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
13,33 13,49 0,16
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
16,39 17,27 0,88
--------- ------- ------
28,27 28,71 0,44
--------- ------- ------
29,05 29,40 0,35
--------- ------- ------
52,56 55,48 2,92
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD58 751182 7782514 1316 60 225 180,3 2,24 5,00 2,76
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
45,43 45,54 0,11
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
50,35 50,79 0,44
--------- ------- ------
53,92 54,60 0,68
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD59 751246 7782580 1319 60 45 180,1 32,82 34,52 1,70
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
36,29 37,16 0,87
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
39,80 39,94 0,14
--------- ------- ------
45,33 46,51 1,18
--------- ------- ------
57,46 62,14 4,68
--------- ------- ------
65,34 65,49 0,15
--------- ------- ------
84,00 88,17 4,17
--------- ------- ------
142,76 143,25 0,49
--------- ------- ------
144,07 144,72 0,65
--------- ------- ------
146,04 146,61 0,57
--------- ------- ------
161,03 165,25 4,22
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD51 751257 7782553 1319 60 225 180,3 3,56 4,10 0,54
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
4,77 6,23 1,46
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
13,41 14,00 0,59
--------- ------- ------
16,64 16,94 0,30
--------- ------- ------
17,20 17,49 0,29
--------- ------- ------
36,54 36,69 0,15
--------- ------- ------
69,50 69,87 0,37
--------- ------- ------
142,68 143,20 0,52
--------- ------- ------
150,66 150,85 0,19
--------- ------- ------
168,90 169,33 0,43
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD57 751211 7782482 1316 60 225 194,7 28,25 28,49 0,24
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
49,67 49,96 0,29
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
66,77 67,16 0,39
--------- ------- ------
98,98 99,47 0,49
--------- ------- ------
161,93 162,05 0,12
--------- ------- ------
162,33 162,56 0,23
--------- ------- ------
174,33 174,55 0,22
--------- ------- ------
179,80 180,79 0,99
--------- ------- ------
187,43 190,20 2,77
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD56 751309 7782515 1316 60 45 180,4 40,19 40,43 0,24
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
59,49 59,88 0,39
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
85,47 86,91 1,44
--------- ------- ------
90,00 90,15 0,15
--------- ------- ------
111,32 111,49 0,17
--------- ------- ------
113,09 113,63 0,54
--------- ------- ------
114,18 114,68 0,50
--------- ------- ------
134,08 134,89 0,81
--------- ------- ------
140,91 141,05 0,14
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD60 751145 7782554 1317 60 225 180,2 0,50 2,87 2,37
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
2,87 9,89 7,02
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
12,96 13,34 0,38
--------- ------- ------
35,29 36,54 1,25
--------- ------- ------
40,40 41,30 0,90
--------- ------- ------
42,33 42,60 0,27
--------- ------- ------
45,00 49,00 4,00
--------- ------- ------
59,12 59,70 0,58
--------- ------- ------
62,39 64,02 1,63
--------- ------- ------
106,39 106,58 0,19
--------- ------- ------
109,14 117,25 8,11
--------- ------- ------
125,06 126,76 1,70
--------- ------- ------
127,64 129,19 1,55
--------- ------- ------
147,00 147,75 0,75
--------- ------- ------
148,86 149,18 0,32
--------- ------- ------
171,18 172,73 1,55
--------- ------- ------
173,27 175,00 1,73
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD33 751109 7782154 1323 60 360 157,3 61,22 69,95 8,73
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
86,09 91,33 5,24
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD34 751111 7782156 1323 60 275 62,96 65,88 2,92
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
Not completed 71,72 96,60 24,88
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
ZDD35R 751086 7782107 1322 60 255 26,96 27,48 0,52
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
37,34 39,00 1,66
---------- -------- --------- ---------- ------------ -------- --------- ------- ------
45,46 57,28 11,82
--------- ------- ------
108,65 111,10 2,45
--------- ------- ------
23,50 27,26 3,76
--------- ------- ------
59,00 63,14 4,14
--------- ------- ------
79,20 98,40 19,20
--------- ------- ------
102,85 105,07 2,22
--------- ------- ------
112,72 114,34 1,62
--------- ------- ------
124,84 125,80 0,96
--------- ------- ------
132,45 133,73 1,28
--------- ------- ------
138,85 148,71 9,86
--------- ------- ------
Not completed 166,70 169,73 3,03
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
GT-SP-05 751154 7782536 1317 70 184 196,4 20,77 21,40 0,63
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
32,00 32,55 0,55
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
50,25 52,39 2,14
--------- ------- ------
68,28 68,70 0,42
--------- ------- ------
74,15 74,92 0,77
--------- ------- ------
124,70 131,35 6,65
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
GT-SP-06 751355 7782182 1311 70 220 153,1 0,00 9,59 9,59
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
14,98 33,57 18,59
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
37,05 38,30 1,25
--------- ------- ------
42,46 47,86 5,40
--------- ------- ------
51,30 57,37 6,07
--------- ------- ------
61,14 62,72 1,58
--------- ------- ------
95,86 96,43 0,57
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
GT-SP-07 751346 7782101 1311 70 184 196,4 43,18 44,40 1,22
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
46,86 55,90 9,04
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
130,65 131,45 0,80
---------- -------- --------- ---------- ------------ -------- ---------------- --------- ------- ------
GT-SP-01 751132 7782134 1319 70 359 Not completed 20,55 24,00 3,45
--------- ------- ------
Notes:
Section in Bold under Major Intersections are Intersections
at 0.5 > M
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/John More/Toby Gibbs 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.
"li2O" Lithium Oxide and is the standard referenced in our
Mineral Resource Estimate.
"LIBS" Laser Induced Breakdown Spectroscopy
https://sciaps.com/libs-handheld-laser-analyzers/z-300/
.
"M" Meters.
Ends
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
DRLEAKFSEEPFFFA
(END) Dow Jones Newswires
November 05, 2021 13:00 ET (17:00 GMT)
Premier African Minerals (LSE:PREM)
Historical Stock Chart
From Mar 2024 to Apr 2024
Premier African Minerals (LSE:PREM)
Historical Stock Chart
From Apr 2023 to Apr 2024
