Initiation of Definitive Feasibility Study at Zulu

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: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
Jerry Keen/Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: [phone]
M atthew Bonner	E AS Advisors LLC	T el: [phone]

 

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