Premier African Minerals Limited RHA/Zulu Update (9619D)
May 03 2017 - 2:00AM
UK Regulatory
TIDMPREM
RNS Number : 9619D
Premier African Minerals Limited
03 May 2017
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
03 May 2017
Premier African Minerals Limited
("Premier" or the "Company")
RHA/Zulu Update
Premier African Minerals Limited, the AIM-traded,
multi-commodity resource and development Company focused on
Southern and Western Africa, is pleased to announce that the
commissioning of the RHA mine is progressing well and that the
Company anticipates its first shipment of wolframite concentrate in
the beginning of May.
George Roach, Chairman and CEO commented: "I am pleased to
report that the XRT sorter is exceeding our expectations and has
proved capable of recovering up to 100% of mineralisation contained
in the run of mine (ROM) feed to the sorter, on a continuous basis
and in a mass pull of circa 5% on average. General refinement of
the sorter operation and optimisation of the gravity recovery
circuit and other elements of the crushing circuits continue with
constant steady improvements. Breakeven production of wolframite
occurs at 3,000 mtu per month and the plant has already achieved
and exceeded this production level but not yet on a sustained
basis. Ongoing optimisation, refinement and mining development is
expected to result in continuous sustained operation at profitable
levels in the near future. Shipments of concentrates produced from
the upgraded plant will commence in the beginning of this
month."
Drilling continues at the Zulu lithium and tantalum project with
the direct objective of increasing our interim maiden resource that
is expected to cover a limited length of the so far known 3.5
kilometre strike length. Drilling has been interrupted from time to
time with ongoing and unseasonal heavy rains but this is now
expected to end as winter approaches for this region.
Mineralisation continues to be encountered as anticipated and
exceptional results will be released as and when they are
available. In addition, we are commencing a Mobile Metals Ions
("MMI") survey which is an innovative soil geochemical survey to
detect hidden mineralisation in areas where the mineralisation
isn't outcropping."
Qualified Person:
Wolfgang Hampel, Exploration Manager of Premier African Minerals
Limited has reviewed and approved this release to the extent that
reference is made to the Zulu tenements. Mr Hampel has 25 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.
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.
Enquiries
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
------------------ --------------------------- ------------------
Michael Cornish Beaumont Cornish Tel: +44 (0) 207
/ Roland Cornish Limited 628 3396
(Nominated Adviser)
------------------ --------------------------- ------------------
Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 207
Mansfield Limited 408 4090
------------------ --------------------------- ------------------
Beaufort Securities Tel: +44 (0) 20
Jon Belliss Limited 7382 8300
------------------ --------------------------- ------------------
Charles Goodwin/ Yellow Jersey PR Tel: +44 (0) 7747
Harriet Jackson Limited 788221
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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. The Company
recently acquired a 52% controlling stake in Mozambique-based TCT
Industrias Florestais Limitada, which owns a substantial limestone
deposit and forestry business located on rail in the Sofala
Province of Mozambique. In addition, the Company 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. Premier also has a 4.5% interest in Casa Mining
Limited, a privately-owned exploration company that has a 71.25%
interest in the 1.2 million ounce inferred resource Akyanga gold
deposit in the DRC.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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