REG - Premier African Min - Zulu Lithium Update

Premier African MineralsAnnouncement

03/04/2023 10:00

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RNS Number : 1279V  Premier African Minerals Limited  03 April 2023

3 April 2023

Premier African Minerals Limited

 

Zulu Lithium Update

Premier African Minerals Limited ("Premier" or the "Company"), provides an
update on the first production at Zulu Lithium and Tantalum Project ("Zulu").

George Roach, CEO commented, "Two issues have delayed production this past
weekend. The first is one final approval from a Zimbabwean authority who is
working closely with Zulu to ensure that the approval is provided as soon as
possible.

The second is the late delivery of one outstanding reagent. This was
short-ordered due to an error on the part of the plant supplier as announced
on the 29 March 2023. The reagent is freely available but not in Africa and
complications related to airfreight of a chemical substance has caused this
delay. It must be noted that the delay on this reagent does not necessarily
stop the production of spodumene, however it will affect the grade of
spodumene concentrate produced.

We believe that the above issues will be resolved in the coming days and will
update the market thereafter."

Floatation for concentration of Spodumene.

 

The flowsheet for spodumene production in simplified terms requires that the
ROM ore is milled to less than 200 micron and then processed in the floatation
circuits. The ore contains a mica rich component that includes lepidolite and
this should be removed in the first stages of the floatation process. The
material that is free of the mica component is then passed to the spodumene
floatation circuit that will normally produce SC6. The missing reagent is
essential for the recovery and concentration of the mica/lepidolite fraction.

 

Whilst the mica circuit can be completely bypassed, the concentrate grade that
would be achieved in the spodumene circuits would be lower than 6% and would
contain contaminants. Whilst likely saleable in the present environment, this
is not what Zulu intends to produce.

 

The person who arranged the release of this announcement on behalf of the
Company was George Roach.

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

 

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.

 Glossary of Technical Terms:
 "Lepidolite"  A pink to lavender coloured lithium bearing mineral (KLi2Al(Si4O10)(F,OH)2).
 "ROM"         Run of Mine
 "Spodumene"   A white to pink coloured lithium bearing mineral (LiAlSi2O6).

 
Ends

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