Zulu Lithium and Tantalum update

RNS Number : 8982C

Premier African Minerals Limited

01 July 2016

 

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

Premier African Minerals Limited

("Premier" or the "Company")

Zulu Lithium and Tantalum update

Summary

Premier African Minerals Limited, the AIM-traded, multi-commodity mining and natural resource development company focused on Southern and Western Africa, is pleased to provide this update in regard to process development at Zulu Lithium and Tantalum project (Zulu) located at Fort Rixon in Zimbabwe.  

Highlights

·    Initial test results of Zulu samples provided by Dorfner Analysenzentrum und Anlagenplanungsgesellschaft mbH.

·     1.55% Li2O reported in spodumene/lepidolite ore sample taken from the exploration adit.

·     1.23% Li2O reported in petalite ore sample.

In late 2015, PREM undertook a mini-bulk sampling programme where three composite samples, each weighing between 250 and 285 kg were taken in the respective pegmatites zones (petalite, spodumene-lepidolite at surface and in spodumene-lepidolite in the exploration adit).

As previously reported in our final results earlier this month, the samples had been shipped from Zimbabwe to Germany for testing and flow sheet development and the initial results were expected in June.

George Roach, CEO, commented: 

"These high Li2O grades contained in the bulk samples are in line with our exploration data. Process development being undertaken in Germany is directed to production of marketable spodumene and petalite concentrates, both of which are in demand as much in the ceramics and glass industries and as a source for low impurity Lithium. Premier is now concentrating efforts to better understand the complexities of this substantial multi-phase pegmatite and further develop the resource model.  Premier is in preliminary discussions with parties interested in participating in Lithium resource development in Zimbabwe. I will update the market in due course."

About Zulu

Zulu is regarded generally as potentially the largest undeveloped lithium bearing pegmatite in Zimbabwe. It was first pegged in 1955 and intensely explored until the early 1960s. Minor petalite production was reported for 1961 and 1962. The pegmatite bodies intruded along serpentine and sedimentary rocks over a strike length of several kilometres. The width varies between 10 and 25 m. The bigger pegmatites to the north of the Machakwe river are rich in spodumene and lepidolite, the smaller pegmatites south of the river are rich in petalite. The pegmatite bodies strike N20° and dip with 70° to 90° to the west. Parts of the pegmatite are quite rich in tantalite-(Mn).

Premier completed further drilling which confirmed the presence of mineralised pegmatites at depth. Pitting and sampling of the eluvial cover confirmed the presence of discrete grains of tantalite and scheelite in the overburden.

Trenching and outcrop sampling by Premier have extended the length of the lithium pegmatite bodies to 3,500m underlining the potential for industrial scale mining.

Besides the obvious production of lithium minerals (petalite, spodumene and lepidolite), the Zulu Pegmatite offers the potential to produce tantalite from hard rock and eluvial resources, scheelite from eluvial resources and feldspar for the ceramic industry from the pegmatite. Yet unproven is the existence of pollucite, the only major caesium ore, and coloured gemstones like, for example, emerald.

Qualified Person

Wolfgang Hampel, Exploration Manager of Premier African Minerals Limited has reviewed and approved this release. Mr Hampel has 24 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), n° 1261, with the European Federation of Geologists.

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.

Glossary of Technical Terms

"adit" means a horizontal or nearly horizontal passage driven from the surface for the working or dewatering of a mine.

"eluvial" is said of an incoherent mineral deposit resulting from the decomposition or disintegration of rock in place. The material may have slumped or washed downslope for a short distance but has not been transported by a stream.

"lepidolite" is the mineral name for lithium bearing mica KLi₂Al(Si₄O₁₀)(F,OH)₂  an important ore of lithium

"Li₂O" means Lithium oxide

"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.

"pollucite" is the mineral name for caesium sodium aluminium silicate (Cs,Na)₂(Al₂Si₄O₁₂) · 2H₂O an important ore of caesium.

"scheelite" is the mineral name for calcium tungstenate CaWO4 an important tungsten ore.

"spodumene" is the mineral name for lithium aluminium silicate LiAlSi₂O₆ an important ore of lithium.
 

 "tantalite" a mostly dark grey to black mineral, iron bearing varieties are called ferrotantalite or tantalite-Fe ; a major tantalum ore.

Enquiries

Chantell De Waal	Premier African Minerals Limited	Tel: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Jerry Keen/Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: [phone]
Charles Goodwin/Aidan Stanley /Dominic Barretto	Yellow Jersey PR Limited	Tel: [phone]

Notes

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 includes tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Benin, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company also holds 2 million 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$4 million based on the latest price at which Circum has accepted subscriptions.

ENDS

 

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