TIDMPREM
RNS Number : 0747Z
Premier African Minerals Limited
09 January 2024
9 January 2024
Premier African Minerals Limited
Zulu Assay Results and Update
Premier African Minerals Limited ("Premier" or the "Company"),
is pleased to report an update including assay results at Premier's
Zulu Lithium and Tantalum Project ("Zulu"). These results include
both surface trenches and drill holes located within the area of
the mineral claims block but outside of the existing mining
operations and pit development.
George Roach, CEO commented , " Those surface trench and drill
hole results originating from the Southeast pegmatite, represent
very good potential for this pegmatite that is adjacent but
discrete from the main mining and pit developments underway at
present. More important is that geological logging indicates that
the lithium mineralisation in this pegmatite is almost exclusively
spodumene. For reference purposes, a grade of 1% Li2O when the
mineralisation is all spodumene, is the equivalent of 12.5% of the
ore body being made up of the mineral spodumene. Test work in our
laboratory at Zulu has consistently confirmed that Zulu is able to
produce SC6 at acceptable grades from a contained spodumene content
in the ore body as low as 4%, representing a potential economic
cut-off grade as low as 0.37% Li2O when the contained mineral is
spodumene.
By way of general update, civils associated with the thickener
and new mill installation are substantially complete and first
materials are now at site with further loads on route. The new mill
is expected to be the last component to be positioned at Zulu late
in January 2024 with anticipated restart of operations as early in
February as possible and the Board believes as previously reported
that the Company is still on track to target revenue generating
production by late-February 2024.
Mining operations are now well developed, and we anticipate no
issues associated with ore delivery to Run of Mine pad in future.
Whilst mining operations are a major cash cost at present, the
future benefit when operations are underway at much reduced
stripping ratios will more than offset this cost in the future.
Preliminary indications from the Company's internal budget
(which has not been independently verified) at this time model an
average mine gate cost of the order of $800 per ton for SC6 for the
first 12 months, and which discounts any technical grade spodumene
produced and sold and any sale of any lepidolite and other
mica-rich concentrates or future tantalum production."
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 surface trenches ZT012, ZT016, ZT017, ZT018, ZT020, ZT022,
ZT025, ZT026, ZT027 and core drill holes ZDD156, ZDD160 and ZDD161.
Of the trench results, ZT025, ZT026 and ZT027 together with all the
drill holes are from the Southeast pegmatite that is located
approximately 350 meters southeast of current pit developments.
Table 1 -Assay Summary Results
Hole From To (m Width* Li(2) Ta(2) Rb ppm
(m) (m) O% O(5) ppm
Surface Trenches
ZT012 47.03 53.70 6.67 1.00 49 3909
Incl. 48.86 50.36 1.50 1.70 18 2404
-------- ------- ------- ------- ------ ---------- -------
ZT016 28.31 33.80 5.49 0.95 81 4690
-------- ------- ------- ------- ------ ---------- -------
ZT017 9.70 17.20 7.50 0.56 87 3561
-------- ------- ------- ------- ------ ---------- -------
ZT018 17.10 21.80 4.70 0.66 125 3875
ZT020 37.30 39.30 2.00 0.94 79 5301
------- ------- ------- ------ ----------
ZT022 4.40 12.45 8.05 0.87 49 1154
Incl. 5.40 9.40 4.00 1.38 58 1356
-------- ------- ------- ------- ------ ---------- -------
ZT022 14.30 20.80 6.50 0.89 45 1374
Incl. 18.30 19.30 1.00 1.61 38 634
-------- ------- ------- ------- ------ ---------- -------
ZT022 41.70 43.70 2.00 0.70 74 2563
ZT025 0.00 5.00 5.00 1.81 49 1029
ZT026 0.00 7.50 7.50 1.40 52 1116
Incl. 5.50 7.50 2.00 2.30 45 648
-------- ------- ------- ------- ------ ---------- -------
ZT027 0.00 3.00 3.00 1.15 37 1058
Incl. 1.00 2.00 1.00 2.30 22 1020
-------- ------- ------- ------- ------ ---------- -------
Drill holes
----------------- ------- ------- ------ ---------- -------
ZDD156 294.30 296.3 2.00 0.78 91 2697
-------- ------- ------- ------- ------ ---------- -------
ZDD160 154.56 187.00 32.44 1.08 63 1265
Incl. 159.91 161.91 2.00 1.77 67 1035
Incl. 164.8 165.80 1.00 1.89 106 718
Incl. 166.80 167.80 1.00 1.63 41 1009
Incl. 173.98 175.98 2.00 1.60 38 969
Incl. 183.98 184.98 1.00 1.80 56 1596
-------- ------- ------- ------- ------ ---------- -------
ZDD161 165.73 174.08 8.35 1.53 54 1287
Incl. 167.73 168.80 1.07 2.31 41 979
Incl. 169.80 170.80 1.00 2.37 37 836
-------- ------- ------- ------- ------ ---------- -------
ZDD161 180.46 186.00 5.54 1.06 97 997
Incl. 180.46 180.46 2.00 2.14 98 892
-------- ------- ------- ------- ------ ---------- -------
*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/Trench Collar Coordinates - This RNS
Dhole UTM 35S* UTM 35S* Elevation Azimuth Collar EOH/Trench
Easting Northing (AMSL) TN ( deg Dip length
) ( deg (m)
)
ZT012 751199.571 7782684.17 1326.97 290 0 80.5
----------- ------------ ---------- ---------- ------- -----------
ZT016 751145.295 7782608.551 1321.542 290 0 70
----------- ------------ ---------- ---------- ------- -----------
ZT017 751130.097 7782555.182 1319.398 290 0 40.5
----------- ------------ ---------- ---------- ------- -----------
ZT018 751121.216 7782503.35 1314.89 290 0 29
----------- ------------ ---------- ---------- ------- -----------
ZT020 751102.666 7782450.664 1311.78 290 0 100
----------- ------------ ---------- ---------- ------- -----------
ZT022 751400.394 7782157.056 1310.307 225 0 86
----------- ------------ ---------- ---------- ------- -----------
ZT025 751392.43 7782146.19 1310.207 216.47 0 5
----------- ------------ ---------- ---------- ------- -----------
ZT026 751401.075 7782144.871 1310.218 210.51 0 7.5
----------- ------------ ---------- ---------- ------- -----------
ZT027 751409.526 7782139.956 1309.893 207.54 0 3
----------- ------------ ---------- ---------- ------- -----------
ZDD156 751483.703 7782138.713 1312.707 218.7 -59.84 325.89
----------- ------------ ---------- ---------- ------- -----------
ZDD160 751480.699 7782205.707 1312.555 226.26 -49.84 300.35
----------- ------------ ---------- ---------- ------- -----------
ZDD161 751415.084 7782206.843 1310.687 217.76 -59.86 282.33
----------- ------------ ---------- ---------- ------- -----------
* ARC1950 Datum (10m local datum shift)
Table 3 - Drilling & Trenching Progress
A summary of the number of drill holes & trenches completed
both prior to and for the ongoing Mineral Resource Estimate:
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
/MRE 143 34,100.16 33 2,534.76
------------ ------------- -------------- ------------
ZULU - MRE (in progress) 0 0
------------ ------------- -------------- ------------
Table 4 - Analytical Pipeline
A summary of the status of drill core & trench analyses is
set out below:
Results received to date (excluding
QA/QC samples) 9,837
# QA/QC samples analysed - blanks,
duplicates & CRMs 1,479*
-------
Sample pulps at SGS Randfontein awaiting
analysis 350
-------
Sample pulps ready to be shipped to
SGS 635
-------
Ongoing sampling of drill cores/trench
samples at site** 0
-------
**Estimate
*QA/QC samples = 15% of total
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 upon completion of the drill hole.
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 10th 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 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.
Mapping and logging of drill cores within some pegmatites
semi-quantitative powder X-Ray Diffraction (XRD)a has identified
three distinct pegmatite classes in the Mineral claims block.
Spodumene-rich, thick pegmatites named the Main Zone, South
Pegmatite and SE Zone which are located north, south and SE 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 the geology of
the Zulu pegmatites. Mr. Cumming is a SACNASP and GSSA registered
geoscientist with 48 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:
Premier African Minerals Tel: +27 (0) 100
George Roach Limited 201 281
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20
Roland Cornish (Nominated Adviser) 7628 3396
--------------------------- -----------------
Tel: +44 (0) 20
Douglas Crippen CMC Markets UK Plc 3003 8632
--------------------------- -----------------
Toby Gibbs/Rachel Shore Capital Stockbrokers Tel: +44 (0) 20
Goldstein Limited 7408 4090
--------------------------- -----------------
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's
Nominated Adviser and is authorised and regulated by the FCA.
Beaumont Cornish's responsibilities as the Company's Nominated
Adviser, including a responsibility to advise and guide the Company
on its responsibilities under the AIM Rules for Companies and AIM
Rules for Nominated Advisers, are owed solely to the London Stock
Exchange. Beaumont Cornish is not acting for and will not be
responsible to any other persons for providing protections afforded
to customers of Beaumont Cornish nor for advising them in relation
to the proposed arrangements described in this announcement or any
matter referred to in it.
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.
----------------------------------------------------------
"Run of Mine" Ore that is mined and ready to be processed
----------------------------------------------------------
"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 ) containing up to 8.03% Li(2) O
----------------------------------------------------------
"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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