REG - Premier African Min - Zulu Assay Results and Pilot Plant Update

Premier African MineralsAnnouncement

26/07/2022 07:00

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RNS Number : 7364T  Premier African Minerals Limited  26 July 2022

26 July 2022

Premier African Minerals Limited

 

Zulu Assay Results and Pilot Plant Update

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to
report on assay results at Premier's Zulu Lithium and Tantalum Project
("Zulu") and the Offtake and Prepayment Agreement.

Highlights:

 ·                                         Multiple thick high-grade zones intersected

George Roach, CEO commented, "And again, results continue to please on the
upside. These are just a few of more than 2,000 outstanding assays that we are
chasing laboratories for. This finishes hole 75 and this is typical of many of
the holes intended to elevate the resource confidence level from Inferred to
Indicated. Particularly pleasing are the multiple intersections that have
passed through steeply dipping mineralised pegmatites. Pleasing also to note
that this is precisely the type of ore body best suited to sensor-based
sorting and the application of that technology is likely to improve overall
mining efficiencies. At the same time good progress continues with early mine
build. Site earthworks and camp construction is progressing well. Detailed
civils design is expected to complete by end July 2022.

Our formal agreement in regard to offtake is largely in final state, and it is
generally a pleasure to be able to report good progress all round."

Zulu Lithium Project Pilot Plant

On 24 June 2022, Premier announced that it had entered into a binding Heads of
Terms with Suzhou TA&A Ultra Clean Technology Co. Ltd to establish a
large-scale pilot plant at Zulu to produce SC6 from Q1 2023.

The final form of the Offtake and Prepayment Agreement has now largely been
agreed and Premier is now in the process of moving forward with closing, which
is expected in the coming days.  A further announcement will be made in due
course.

Drill Holes: Lithium & Tantalum Results

The table below sets out the independent external laboratory analyses for
holes ZDD075.

Table 1 - Assay Summary Results

 Hole    From (m)  To (m)  Width* (m)  Li(2)O%  Ta(2)O(5) ppm  Rb ppm
 ZDD075  53.22     56.96   3.74        1.29     62             3242

 ZDD075  61.14     63.52   2.38        0.92     36             3167

 ZDD075  102.00    105.89  3.89        1.16     15             2704

*Not True Width but lineal width

**0.50% Li(2)O cut-off applied.

The following compositing routine was 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 however,
 ·                                         Within any composite >2m thickness, high-grade intersections of 1m are
                                           reported; 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.

Table 2 - Drilling Progress

A summary of the number of drill holes completed both prior to and for the
ongoing DFS is set out below:

 PROGRAMME                   No of Drill Holes Completed  Metres (m)
 RST (1958)                  7                            903.90
 ZULU - Initial Exploration  6                            2,312.90
 ZULU - PEA                  43                           5,809.10
 ZULU - DFS                  101                          23,377.98
 ZULU - DFS (in progress)    6                            888.54
                             DFS Drilling Total (only):   24,266.52

Table 3 - Analytical Pipeline

A summary of the status of drill core analysis is set out below:

 DFS - results received to date                     1,800
 DFS - sample pulps at SGS Randfontein              430
 DFS - sample pulps ready to be shipped from Antec  1,585
 DFS - samples being pulped at Antec                779
 DFS - ongoing sampling of drill cores at site      183

 

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.

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 10(th) 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 inspected
for export in Harare by the competent government authorities and 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 25 m. The pegmatite bodies strike N20° and
dip 70° to 90° to the west.

 

The area was first pegged in 1955 by J.S. Willemse and intensely explored,
under an option, with mapping, trenching and drilling by Rhodesian Selection
Trust Co. Ltd. ("RST") in 1958. In 1961 and 1962 a small quantity of petalite
was mined by W. Burchett in partnership with J.S. Willemse. Premier later
acquired the claims the Zulu in 2013.

 

The thickest pegmatite, north and south of the Machakwe river, is rich in
spodumene, petalite and lepidolite while the thinner footwall pegmatites tend
to be lower in Li-grade but carry good tantalum and rubidium grades.

 

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 Zulu.  Mr. Cumming is a SACNASP and
GSSA registered geoscientist with 46 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.

Forward Looking Statements:

Certain statements in this announcement are or may be deemed to be forward
looking statements. Forward looking statements are identified 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 reflect 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 accepted 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.

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)
 John More/Toby Gibbs                                        Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090
 Glossary of Technical Terms:
 "amphibole"                    A class of rock-forming silicate or aluminosilicate minerals typically
                                occurring as fibrous or columnar crystals.
 "Banded Iron Formation (BIF)"  A sedimentary rock consisting of alternating layers of iron oxides and
                                iron-poor chert.
 "DFS"                          Definitive Feasibility Study.
 "Greenschist facies"           The Greenschist facies is at low pressure and 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)
 "Lepidolite"                   A pink to lavender coloured lithium bearing mineral (KLi2Al(Si4O10)(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
 "Petalite"                     A white coloured lithium bearing mineral (LiAl(Si4O10))
 "ppm"                          parts per million
 "Rb"                           Rubidium
 "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 (LiAlSi2O6)
 "Ta to Ta2O5"                  x 1.221
 "Ta"                           Tantalum

 

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 Li  Convert to Li(2)O
 Lithium        Li      1.000          2.153
 Lithium Oxide  Li(2)O  0.464          1.000

 
Ends

 

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