REG - Premier African Min. - Zulu Lithium Update

Premier African MineralsAnnouncement

24/01/2024 07:15

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RNS Number : 6875A  Premier African Minerals Limited  24 January 2024

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

 

24 January 2024

Premier African Minerals Limited

 

 Zulu Lithium Update

 

The Board of Premier African Minerals Limited ("Premier" or the "Company") is
pleased to provide an update on further assay results and current progress on
Zulu Lithium and Tantalum ("Zulu").

George Roach, CEO commented: "ZDD162 and ZDD163 are very pleasing results
coming from the Southeast zone under development which is not part of the
current pit operations. This Southeast zone appears to be Spodumene Quartz
Intergrowths ("SQI") dominant with more than 90% of the mineralisation
associated with spodumene. ZDD165 is infill from our North pit (Main zone) and
supportive of our conclusions to date.

 

By way of update on the Zulu plant, all components for the thickener are now
either at site or on route. The final components and the ball mill are all
expected to be loaded for planned departure for site on 29 January 2024. The
mill is expected to be factory run on the 26 January 2024 immediately prior to
loading."

 

Drill Holes: Lithium, Tantalum & Rubidium 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 core drill holes ZDD162, ZDD163
and ZDD165*.

 *Notation  ZDD = Zulu Diamond Drilling

            ZT = Zulu (surface) Trench - all trenches treated as horizontal drill holes

Table 1 -Assay Summary Results

 

 Hole    From (m)  To (m   Width* (m)  Li(2)O%  Ta(2)O(5) ppm  Rb ppm
 ZDD162  198.00    208.80  10.80       1.11     94             853

 Incl.   201.80    202.80  1.00        1.95     62             789

 ZDD162  238.41    244.65  6.24        0.84     65             1283

 Incl.   238.41    239.41  1.00        1.71     50             1011

 Incl.   241.41    242.41  1.00        1.70     44             1101

 ZDD162  356.46    359.53  3.07        1.21     83             1079

 Incl.   357.86    358.86  1.00        2.46     29             916

 ZDD163  259.00    266.68  7.68        0.74     41             1078

 Incl.   261.50    263.50  2.00        1.38     33             948

 Incl.   265.17    266.17  1.00        1.14     28             897

 ZDD165  206.87    212.91  6.04        0.96     19             1244

 Incl.   211.12    212.91  1.79        1.50     19             1419

 ZDD165  215.25    219.47  4.22        1.00     26             1492

 Incl.   217.86    219.10  1.24        1.90     10             1705

 

*Not True Width but drilled width

**0.50% Li2O cut-off applied.

The following compositing routine has been applied:

· 0.50% Li2O 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% Li2O 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% Li2O.

 

Table 2 - Drill Holes/Trench Collar Coordinates

 Dhole   UTM 35S*    UTM 35S*     Elevation (AMSL)  Azimuth TN (°)   Collar Dip  EOH

         Easting     Northing                                        (°)         (m)
 ZDD162  751414.404  7782278.521  1312.37           228.22           -48.60      363.48
 ZDD163  751453.700  7782241.000  1312.42           226.25           -57.97      325.90
 ZDD165  751250.610  7782569.185  1318.58           280.72           -49.91      323.08

 

Table 3 - Drilling & Trenching Progress

 

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

 

 PROGRAMME                   No of Drill Holes  Drill Metres (m)  No of Surface Trenches  Trenched 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

 

Table 4 - Analytical Pipeline

A summary of the status of drill core & surface trench analyses is set out
below:

 Results received to date (excluding QA/QC samples)        10,129
 # QA/QC samples analysed - blanks, duplicates & CRMs      1,528
 Sample pulps at SGS Randfontein awaiting analysis         627
 Sample pulps ready to be shipped to SGS                   0
 Samples being pulped in the laboratory                    0
 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 N20° and
dip 70° to 90° 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-quantative
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 (North Pit) , South Pegmatite (South Pit) 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, a consulting geologist to Premier, has reviewed and approved
this release to the extent that reference is made to the geology and
mineralogy 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.

 

Market Abuse Regulations

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 ("UK MAR").

 

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

A copy of this announcement is available at the Company's website,
www.premierafricanminerals.com (http://www.premierafricanminerals.com)

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)
 Douglas Crippen                   CMC Markets UK Plc                  Tel: +44 (0) 20 3003 8632
 Toby Gibbs/Rachel Goldstein       Shore Capital Stockbrokers Limited  Tel: +44 (0) 20 7408 4090

 

Beaumont Cornish Limited ("Beaumont Cornish"), which is authorised and
regulated in the United Kingdom by the Financial Conduct Authority, is acting
as nominated adviser to the Company in connection with this announcement and
will not regard any other person as its client and will not be responsible to
anyone else for providing the protections afforded to the clients of Beaumont
Cornish or for providing advice in relation to such proposals. Beaumont
Cornish has not authorised the contents of, or any part of, this document and
no liability whatsoever is accepted by Beaumont Cornish for the accuracy of
any information or opinions contained in this document or for the omission of
any information. Beaumont Cornish as nominated adviser to the Company owes
certain responsibilities to the London Stock Exchange which are not owed to
the Company, the Directors, Shareholders, or any other person.

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.

 

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.
 "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.)
 "ICP-OES"                      Inductively coupled plasma-optical emission spectroscopy.
 "ICP-MS"                       Inductively coupled plasma mass spectrometry.
 "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.
 "PEA"                          Preliminary Economic Study.
 "Petalite"                     A white coloured lithium bearing mineral (LiAl(Si4O10)).
 "ppm"                          Parts per million.
 "Rb"                           Rubidium.
 "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 (LiAlSi2O6) 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 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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