TIDMPREM
RNS Number : 7666C
Premier African Minerals Limited
03 October 2018
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
3 October 2018
Premier African Minerals Limited
RHA Drilling Update
Premier African Minerals Limited ("Premier" or the "Company") is
pleased to provide an update on its drilling programme at the RHA
Tungsten Mine ("RHA") in Zimbabwe in which Premier has a 49%
interest and is the operator. As announced on 14 September the
Company is drilling up to 2,750 metres to expand as well as to
increase the Resources at RHA with the view to resume mining
activities.
Highlights
-- 9 diamond drill holes completed for 941 metres.
-- Hole RHADD34 intersected 1.86 metres of 2.39 kg/t WO and 44.8 kg/t over 0.29m
-- Drilling programme designed to expand and as well increase
the resource confidence and guide future mine planning
-- Sample preparation and assay is completed on site using owned
XRF and standard reference material. Validations to be conducted by
SGS
-- Core logging of completed diamond drill holes has identified
numerous wolframite and chalcopyrite bearing intercepts.
The preliminary analytical results set out in this announcement
from underground drilling at RHA have been returned from the
Company's own on-site analysis and samples are being submitted to
SGS South Africa and the results of this analysis will be released
in due course.
George Roach, Premier's CEO, commented: "The preliminary
internal assay results from RHADD34 indicate multiple mineralised
load structures with wolframite at commercial grades and visible
copper mineralisation in the form of chalcopyrite co-existent in
the same ore bodies as the wolframite. Wolframite concentrates
previously produced at RHA have always contained copper, but no
attempt was made to separately recover any copper, and whilst the
production of any potential by- product is speculative at this
time, the visibly pervasive presence needs a fuller investigation,
and independent assay.
This is likely to include floatation tests to understand what
recoveries could be expected from these copper co-existent
intersections. Whilst it is still too early to take a decision on
whether to extend the underground operations at RHA through a new
decline shaft or deepening of the current vertical shaft, projected
mineralisation at depth is confirmed. Whilst drilling in the open
pit has not been completed, the results obtained so far from the
western end of the pit do not support a continuation of mining with
the current plant configuration.
The results did however indicate that mineralisation is
increasing in an easterly direction and it is likely that the pit
may be extended at a time in the future if a decline shaft is
constructed. Any significant extension to the open pit in an
easterly direction will interfere with the existing vertical
shaft."
Drilling Programme
Premier commenced a diamond drilling programme at RHA in the
beginning of September 2018. The drilling programme is designed to
expand the underground declared resource base as well as assisting
with a determination of the future mining of the open pit. To date
9 holes have been drilled totalling 941 metres. The Company expects
to complete the drilling programme by the end of October and will
announce further meaningful intersections. Significant preliminary
drilling results (subject to confirmation by SGS South Africa)
returned to date include:
Table 1 - Drilling intercepts
Hole ID From (m) To (m) Length (cm) WO kg/t
RHADD34 58,96 59,24 28 1,47
--------- ------- ------------ --------
RHADD34 60,1 61,17 107 0,99
--------- ------- ------------ --------
RHADD34 95,85 96,14 29 44,88
--------- ------- ------------ --------
RHADD34 118,64 119,02 38 4,13
--------- ------- ------------ --------
RHADD34 126,02 127 98 1,12
--------- ------- ------------ --------
RHADD34 145,32 145,62 30 9,08
--------- ------- ------------ --------
RHADD34 155,26 155,34 8 1,67
--------- ------- ------------ --------
RHADD34 167,1 167,39 75 1,54
--------- ------- ------------ --------
RHADD34 167,39 167,85 46 0,67
--------- ------- ------------ --------
RHADD34 169,21 169,86 65 6,87
--------- ------- ------------ --------
RHADD34 173,86 174,2 34 7,24
--------- ------- ------------ --------
RHADD34 180,3 181,2 90 0,91
--------- ------- ------------ --------
RHADD34 205,58 205,93 35 4,99
--------- ------- ------------ --------
RHADD34 211,22 213,08 186 2,39
--------- ------- ------------ --------
RHADD34 215,14 215,54 40 4,07
--------- ------- ------------ --------
RHADD34 218,09 218,37 28 1,31
--------- ------- ------------ --------
RHADD34 223,64 224,19 55 2,02
--------- ------- ------------ --------
RHADD34 226,68 226,82 14 0,88
--------- ------- ------------ --------
RHADD34 238,84 239,04 20 3,80
--------- ------- ------------ --------
Notes:
(i) Reported intervals are downhole widths, the true widths may be narrower.
(ii) RHA's on-site laboratory is not certified for analysis and
these results should be considered preliminary in nature. Results
from a certificated laboratory will be released as and when
available
QA/QC
Sample preparation is done at site and sample assays and the
analytical results set out in this announcement from underground
drilling at RHA have been returned from the Company's own on-site
analysis out using RHA's own XRF. Every eighth sample analysed is a
Certified Standard Reference Material ("CRM", GW-02 by Geostats,
Australia) for tungsten. At least 20 per cent. of all samples will
be submitted to SGS, South Africa, for verification of
mineralisation and grades. The Company would further expect that in
the preparation of any future independent reserve / resource
statement undertaken in compliance with a recognised standard, the
independent authors of such a statement would not use preliminary
assay results but would only use assay results reported by an
appropriately certificated laboratory.
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 RHA. Wolfgang Hampel has 27 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.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this announcement.
The person who arranged for the release of this announcement on
behalf of the Company was George Roach, Director.
Enquiries:
Premier African Minerals Tel: +44 (0)7734
Fuad Sillem Limited 922074
Michael Cornish / Beaumont Cornish Limited Tel: +44 (0) 20
Roland Cornish (Nominated Adviser) 7628 3396
--------------------------- -----------------
Jerry Keen/Edward Shore Capital Stockbrokers Tel: +44 (0) 20
Mansfield Limited 7408 4090
--------------------------- -----------------
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 project in Zimbabwe.
The Company has a diverse portfolio of projects, which include
tungsten, rare earth elements, lithium and tantalum in Zimbabwe,
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. Premier also has an interest
in Arc Minerals that has a number of mineral assets in Europe and
Africa.
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. Many 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.
ENDS
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END
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