TIDMPREM
RNS Number : 1063U
Premier African Minerals Limited
31 March 2021
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
31 March 2021
Premier African Minerals Limited
("Premier" or the "Company")
Initiation of Definitive Feasibility Study at Zulu
Premier African Minerals Limited ("Premier" or the "Company"),
is pleased to provide this further corporate update on progress and
funding strategy to be applied in the future development of both
Premier and Zulu Lithium and Tantalum Limited ("Zulu").
The Zulu deposits are contained within an Exclusive Prospecting
Rights area greater than 200 square kilometers with major potential
Lithium, Cesium, Tantalum pegmatite prospects over and above the
existing resource estimate already defined and described in our
announcement on 18 March 2021.
Appointment of Contractors and Consultants in respect of
Zulu
-- Appointment of Bara Consulting ("Bara") as principal
engineers for the Definitive Feasibility Study ("DFS")
-- Appointment of Geodrill Private Limited ("Geodrill") as
principal drilling contractor for Zulu resource extensions and
technical drilling for DFS
-- Appointment of Hains Engineering Company Limited
("Hainstech") as Resource and Technical consultant
-- Appointment of Mr. CJ Male as site exploration manager for Zulu
George Roach, Chief Executive of Premier commented:
"On 20 November 2017 we announced t he results of Zulu scoping
study that showed that there is an opportunity to develop a robust,
low capital cost lithium mine with low operating costs. This
combined with strong prices for spodumene concentrates and
sustained demand for high-grade petalite, support our confidence
that the next step for Zulu is the completion of a DFS.
The projected timeline to complete the DFS at Zulu has been
ratified by Bara and their appointment is immediate. Completion in
this timeline will be subject to certain laboratories to be
appointed to complete additional test work and assays within the
allotted time frames.
The appointment of Geodrill is effective immediately and
mobilisation is commencing. Premier has sufficient funds to pay the
mobilisation charges from existing resources and the full drilling
camp is now expected to be completed and operational by the end of
April 2021.
Hainstech under the guidance of Don Hains completed a site visit
to Zulu and reported on the deposit and its potential as announced
on 1 August 2017. Hainstech will provide guidance in regard to both
the resource development and the proposed flow sheet to follow from
expanded test work to be conducted during the completion of the
DFS. Premier has not concluded final financing details but expects
to update shareholders at our next annual general meeting which is
expected to be announced in the coming weeks".
This announcement contains inside information for the purposes
of Article 7 of EU Regulation No. 596/2014 on market abuse. The
person who arranged for the release of this announcement on behalf
of the Company was George Roach, Director.
A copy of this announcement can be found on the Company's
website www.premierafricanminerals.com .
About Bara Consulting
Bara Consulting is an independent consulting engineering firm
focused on serving the global mining industry. The company is based
in the UK and South Africa. Johannesburg provides an excellent base
for work that is conducted in Sub-Saharan Africa, while our UK
office provides a base for our activities in Europe and North and
West Africa. Bara undertakes a significant amount of study work
ranging from conceptual studies to full definitive feasibility
studies. These studies are generally required to be code compliant
to support downstream funding activities for the projects and the
company retains competent person in this regard and regularly signs
off mineral/ore reserves for clients.
Bara has worked on the Zulu having completed a Scoping Study for
Premier previously and therefore has an established understanding
of the project challenges and requirements.
Additional information on Bara can be found on the company
website www.bara-consulting.com/
About Geodrill
Geodrill has been the main drillers at Zulu. Geodrill is
familiar with the region and the location. Accordingly,
mobilization is expected to be less time-consuming and more
effective. Geodrill will also provide certain utilities to the
exploration camp and these will include solar power and groundwater
resources as well as scalable workshop and basic housing.
About Hainstech
Hains Engineering is a geological, mineral processing
engineering and mineral economics firm specializing in industrial
minerals, with a particular focus on critical minerals and metals
such as lithium and tantalum. The firm has extensive experience in
exploration and minerals processing for critical minerals in
Africa, North America, South America, China and Europe. The company
provides Clients with a range of services from exploration
management to minerals processing expertise, due diligence reviews,
scoping and prefeasibility studies and preparation of resource and
reserve estimates and qualifying reports. Clients include junior
mineral exploration companies, mid-tier and major producers and
financial institutions.
About Mr. CJ Male
Mr. CJ Male has extensive exploration, project management and
implementation experience. Mr. CJ Male has worked in
multi-commodity exploration projects in various African countries,
including Namibia, specifically concerned with identification of
LCT pegmatites similar in mineralisation style to Zulu.
Mr. CJ Male has historically provided exploration services to
Premier and is familiar with our Zulu. Mr. CJ Male is a South
African Council for Natural Science Professions and Geological
Society of South Africa registered geoscientist.
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 Tel: +44 (0) 20 7628 3396
(Nominated Adviser)
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Jerry Keen/Edward Mansfield Shore Capital Stockbrokers Limited Tel: +44 (0) 20 7408 4090
M atthew Bonner E AS Advisors LLC T el: +1 646 495 2225
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