REG - Premier African Min - Zulu Drilling Update

Premier African MineralsAnnouncement

05/11/2021 17:05

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 ID


Collar Coordinates (UTM Arc 1950 Z35S)


Inclination -(⁰)


 
Azimuth (⁰)
 


End of Hole Depth (m)


 
Major Intersections




Easting


Northing


Elevation


From (M)


To (M)


Width




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


 
Not completed


62,96


65,88


2,92




71,72


96,60


24,88




ZDD35R


751086


7782107


1322


60


255


 
Not completed


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




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
(Nominated Adviser)


Tel: +44 (0) 20 7628 3396




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

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