Premier African Minerals Limited Zulu Lithium and Tantalum Project Update (7130O)
November 09 2016 - 2:01AM
UK Regulatory
TIDMPREM
RNS Number : 7130O
Premier African Minerals Limited
09 November 2016
Premier African Minerals Limited / Ticker: PREM / Index: AIM /
Sector: Mining
For immediate release
9 November 2016
Premier African Minerals Limited
("Premier" or the "Company")
Zulu Lithium and Tantalum Project Update
Excellent Lithium Grades in the First Results from the Drilling
Programme
Premier African Minerals Limited (AIM: PREM), the London quoted
mining exploration and production company, is pleased to report
that significant lithium grades have been recorded from the current
2,500 metre drilling programme at the company's Zulu Lithium and
Tantalum Project ("Zulu") in Zimbabwe.
Highlights:
-- Greater than 2% Lithium (as Li(2) O) grades reported over
bore hole intersections of up to 20 metres.
-- Massive lithium enriched mineralised intersections in all 8 holes drilled to date.
George Roach, Premier's CEO, commented:
"These early lithium results have confirmed the historic data
and our expectations that Zulu has the hallmarks of a significant
lithium and tantalum enriched pegmatite. Lithium grades of up to
2.67% and enriched drill core lengths of up to 5 metres, contained
within a 38 metre wide zone with over 20 metres grading in excess
of 2%, are seldom seen. This data supports our belief that Zulu is
potentially amongst the best hard rock lithium exploration projects
at this time."
Lithium Results
We report results from drill holes ZDD-14 and ZDD-16 in regard
to lithium bearing intersections (externally analysed by SGS South
Africa) in the table below:
DDH From To Length Li(2)
Number (metres) (metres) (metres) O
*) (%)
--------------- ---------- ---------- ---------- ------
ZDD-14 11.59 14.15 2.56 0.26
--------------- ---------- ---------- ---------- ------
ZDD-14 14.15 19.05 4.90 0.68
--------------- ---------- ---------- ---------- ------
ZDD-14 44.17 46.66 2.49 1.44
--------------- ---------- ---------- ---------- ------
ZDD-14 51.66 52.34 0.68 0.31
--------------- ---------- ---------- ---------- ------
Total length: 10.63
--------------- ---------- ---------- ---------- ------
ZDD-16 20.25 21.33 1.08 1.04
--------------- ---------- ---------- ---------- ------
ZDD-16 27.73 30.64 2.91 2.20
--------------- ---------- ---------- ---------- ------
ZDD-16 30.74 35.95 5.21 2.03
--------------- ---------- ---------- ---------- ------
ZDD-16 40.80 45.50 4.70 1.75
--------------- ---------- ---------- ---------- ------
ZDD-16 46.22 48.80 2.58 1.73
--------------- ---------- ---------- ---------- ------
ZDD-16 51.79 54.22 2.43 2.39
--------------- ---------- ---------- ---------- ------
ZDD-16 54.82 55.72 0.90 2.67
--------------- ---------- ---------- ---------- ------
ZDD-16 56.48 58.78 2.30 1.57
--------------- ---------- ---------- ---------- ------
Total length: 22.11
--------------- ---------- ---------- ---------- ------
(*) drilled widths
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
------------------------ --------------------------- ------------------
Charles Goodwin/Harriet
Jackson /Dominic Yellow Jersey PR Tel: +44 (0) 7544
Barretto Limited 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 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
recently acquired a 52% controlling stake in 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.
Glossary of Technical Terms
"Li(2) O" 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.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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November 09, 2016 02:01 ET (07:01 GMT)