TIDMPREM
RNS Number : 2978Z
Premier African Minerals Limited
14 December 2017
14 December 2017
Premier African Minerals Limited
Zulu Drilling Update
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to share further assay results from the Company's Zulu
Lithium Project near Fort Rixon in Zimbabwe ("Zulu").
The focus of the current drilling programme is to upgrade and
expand the Resources in the Main Zone, where the Company has
declared a Maiden Inferred Mineral Resource Estimate of 20.1
million tonnes grading 1.06% Li O, and to convert the exploration
targets in both the Main Zone and step-out zones to code compliant
status.
Highlights:
Hole ZDD-45
Ø New intersection of 1.74m at 1.69% Li 0 from 148.77m
Ø Updated hole result now 40.58m containing an average grade of
1.56% Li 0 in multiple intersections
Ø Assay results from another 20m of drilling still
outstanding
Hole ZDD-27/2
Ø Located to the east of the Main Zone intersected 9.62m of
pegmatite in multiple intersections, including:
Ø 5.19m at 1.86% Li(2) O from 114.38m
Ø 4.43m at 1.27% Li(2) O from 121.25m
George Roach, Premier's CEO, commented: "ZDD-45 is our best hole
to date and continues to deliver excellent results that are well
supported by further assay results now becoming available. The
close proximity of the mineralised sections supports a cost
efficient and bulk mining scenario. The current drilling programme
continues to intersect exceptional high-grade spodumene pegmatite
and we have been successful in both discovering new mineralisation
and also advancing our understanding as well as generating drill
targets. I look forward to reporting on similar excellent results
in the near future."
Drilling at Zulu:
The Company has now completed a further 24 drill holes,
equivalent to 3,638.54m since completion of the initial 2,500m
drilling programme that resulted in the Maiden Inferred Mineral
Resource Estimate at Zulu of 20.1 million tonnes grading 1.06% Li O
(as announced on 6 June 2017). The current drilling programme is
focussed on expanding as well as upgrading the resources in the
Main Zone, and, to delineate further the Li mineralisation in the
new south-eastern zone. All of the 24 new drill holes have
intersected mineralisation with ZDD-45 having the best
intersections so far. ZDD-45 was drilled on an apparent triple
junction of step-out zones SO1, SO2 and the Main Zone. The
intersected pegmatites are predominantly spodumene rich, petalite
and lepidolite are scarce. The other two holes were drilled in
step-out zone SO3, close to the central part of the Main Zone.
Table 1 below sets out the drilling results for hole ZDD-45, and
includes the results announced on 12 December 2017 together with
the additional results for interval 148.77m to 150.51m, and the new
results for holes ZDD-27/2 and ZDD-28.
Table 1: Drill Intercepts
ZDD-45 (Azimuth: N237, dip: -60deg, total length: 277.53m)
ZDD-27/2 (Azimuth: N140, dip: -60deg, total length: 140.08m)
ZDD-28 (Azimuth: N240, dip: -60deg, total length: 140.28m)
Interval
Drill From length Li(2) Comments
hole (m) To (m) (m)* O (%)
----------- ------- ------- --------- -------- ---------------------
ZDD-45 101.24 150.51 40.58 1.56
----------- ------- ------- --------- -------- ---------------------
Incl. 2.96m at 2.81%
Li(2) O
and 1.96m at 2.90%
Including 101.24 109.46 8.22 1.96 Li(2) O
----------- ------- ------- --------- -------- ---------------------
Incl. 1.60 at 1.74%
including 111.70 115.23 3.53 1.06 Li(2) O
----------- ------- ------- --------- -------- ---------------------
Incl. 2.40m at 1.73%
including 117.18 123.12 5.94 0.94 Li(2) O
----------- ------- ------- --------- -------- ---------------------
including 124.40 125.60 1.20 2.08
----------- ------- ------- --------- -------- ---------------------
Incl. 0.95m at 4.24%
Li(2) O
and 1.17m at 3.64%
including 126.77 138.24 11.47 1.90 Li(2) O
----------- ------- ------- --------- -------- ---------------------
Incl. 1.68m at 2.35%
Li(2) O
and 2.00m at 1.74%
including 138.96 147.44 8.48 1.25 Li(2) O
----------- ------- ------- --------- -------- ---------------------
Including 148.77 150.51 1.74 1.69
----------- ------- ------- --------- -------- ---------------------
ZDD-27/2 114.38 125.68 9.62 1.59
----------- ------- ------- --------- -------- ---------------------
Incl. 1.07 at 2.03%
Including 114.38 119.57 5.19 1.86 Li O
----------- ------- ------- --------- -------- ---------------------
Incl. 2.40 at 1.73%
Including 121.25 125.68 4.43 1.27 Li 0
----------- ------- ------- --------- -------- ---------------------
ZDD-28 53.55 62.40 8.85 0.89
----------- ------- ------- --------- -------- ---------------------
Including 65.26 66.29 1.03 0.96
----------- ------- ------- --------- -------- ---------------------
*: drilled widths
Qualified Person:
Wolfgang Hampel, Senior Geologist with Premier African Minerals
Limited, has reviewed and approved this release to the extent that
reference is made to the Zulu Lithium Project. Mr Hampel has 26
years' experience in the African, American, European and Asian
exploration and mining industry and holds a Diploma in Economic
Geology (Dipl.-Geol.) from the Technical University of Munich. He
is a registered European Geologist (EurGeol). ndeg 1261 with the
European Federation of Geologists.
Enquiries:
Premier African Tel: +44 (0)7734
Fuad Sillem Minerals Limited 922074
------------------------ --------------------------- -----------------
Michael Cornish Beaumont Cornish Tel: +44 (0)
/ Roland Cornish Limited 20 7628 3396
(Nominated Adviser)
------------------------ --------------------------- -----------------
Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0)
Mansfield Limited 20 7408 4090
------------------------ --------------------------- -----------------
Beaufort Securities Tel: +44 (0)
Jon Belliss Limited 20 7382 8300
------------------------ --------------------------- -----------------
Charles Goodwin/Harriet Yellow Jersey PR Tel: +44 (0)
Jackson Limited 07544 275 882
------------------------ --------------------------- -----------------
Notes to Editors:
Premier African Minerals Limited (AIM: PREM) is a
multi-commodity mining and natural resource development company
focused in Southern and Western Africa with production started at
its flagship RHA project in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, gold, lithium and tantalum in
Zimbabwe and Benin, encompassing brownfield projects with near-term
production potential to grass-roots exploration. In addition, the
Company holds 5,010,333 shares in Circum Minerals Limited
("Circum"), the owners of the Danakil Potash Project in Ethiopia,
which has the potential to be a world class asset. At present those
shares are valued at US$10.2 million based on the latest price at
which Circum has accepted subscriptions. Premier also has an
interest in Casa Mining Limited, a privately-owned exploration
company that has a 71.25% interest in the 1.5 million ounce
inferred resource Akyanga gold deposit in the DRC.
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.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014.
Glossary of Technical Terms:
"Li2O" means Lithium oxide
------------- ---------------------------------------
"lepidolite" is the mineral name for lithium
bearing mica KLi2Al(Si4O10)(F,OH)2
an important ore of lithium
------------- ---------------------------------------
"pegmatite" is an exceptionally coarse-grained
igneous rock, with interlocking
crystals, usually found as irregular
dikes, lenses, or veins, esp.
at the margins of granitic intrusions
------------- ---------------------------------------
"petalite" " is the mineral name for lithium
aluminium silicate LiAl(Si4O10)
an important ore of lithium
------------- ---------------------------------------
"spodumene" is the mineral name for lithium
aluminium silicate LiAlSi2O6
an important ore of lithium
------------- ---------------------------------------
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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