Update - Current Diamond Drilling Programme

RNS Number : 1646N

Premier African Minerals Limited

21 October 2016

 

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

For immediate release

21 October 2016

Premier African Minerals Limited

("Premier" or the "Company")

Stellar Tantalum Grades in Early Results from the Zulu Lithium and Tantalum Project

Update - Current Diamond Drilling Programme

Premier African Minerals Limited (AIM: PREM), the London quoted mining exploration and production company, is pleased to report that significant tantalum grades have been recorded from the current 2,500 meter drilling programme at the company's Zulu Lithium and Tantalum Project ("Zulu") in Zimbabwe.

Highlights

·     Significantly elevated tantalum (Ta₂O₅) grades encountered in all holes sampled to date, with grades reported as high as 706 ppm Ta₂O₅ in borehole ZDD 14.

·     Massive lithium enriched mineralised intersections in excess of 40 meters in hole ZDD-05.

George Roach, Premier's CEO, commented: 

"These interim results are extremely encouraging and support the company's view that Zulu has the potential to be one of the best hard rock lithium projects today. The tantalum grades are even more significant when compared to the bell-weather Pilgangoora Lithium-Tantalum deposit, which is currently being developed in Australia by Pilbara Minerals Ltd and has reported generally lower tantalum grades than the current Zulu results received to date in their latest reserve statement in August 2016. Pilbara Minerals report that their Proved and Probable Ore Reserve are 69.8 million tonnes grading 1.26% Li2O (Spodumene) and 132ppm Ta₂O₅. We eagerly await the lithium assays from the South African labs."

Elevated Tantalum Results

The Niobium (Nb₂O₅) and Tantalum (Ta₂O₅) results received to date are set out in the table below. These results were assayed for niobium and tantalum at the Company's laboratory using a calibrated desk mounted XRF. The fact that Ta₂O₅ grade is significantly higher than Nb₂O₅ indicates that the Zulu pegmatites are highly differentiated pegmatites. Highly differentiated pegmatites have the best potential for high grade Lithium, Tantalum and Cesium mineralisation.

DDH Number	From (Metres)	To (Metres)	Length (Meters) *)	Nb2O5 (ppm)	Ta2O5 (ppm)
ZDD-14	11.00	11.34	0.34	77	290
ZDD-14	11.59	14.15	2.56	74	216
ZDD-14	14.15	19.05	4.90	62	178
ZDD-14	19.05	20.08	1.03	164	457
ZDD-14	20.08	20.75	0.67	230	706
ZDD-14	35.42	35.93	0.51	98	237
ZDD-14	36.09	36.57	0.48	91	216
ZDD-14	37.00	37.43	0.43	75	301
ZDD-14	44.17	46.66	2.49	80	125
ZDD-14	51.66	52.34	0.68	72	147
Total Interval			14.09
ZULU-003	14.60	19.00	4.40	124	133
ZULU-003	28.40	31.60	3.20	112	158
ZULU-003	34.20	34.60	0.40	72	211
Total Interval			8.00
ZDD-16	18.45	19.55	1.10	60	193
ZDD-16	20.25	21.33	1.08	104	244
ZDD-16	25.39	25.79	0.40	107	168
ZDD-16	27.73	30.64	2.91	129	150
ZDD-16	30.74	35.95	5.21	114	216
ZDD-16	40.80	45.50	4.70	90	156
ZDD-16	46.22	48.80	2.58	88	132
ZDD-16	51.79	54.22	2.43	107	145
ZDD-16	54.82	55.72	0.90	43	177
ZDD-16	56.48	58.78	2.30	74	153
ZDD-16	107.95	108.46	0.51	61	178
Total Interval			24.12

*) drilled widths

Massive Mineralised Intersections

Bore hole ZDD-05 is the latest bore hole to intersect massive intersections of visible spodumene/petalite mineralisation. The table below sets out the Intersections from surface.

DDH Number	From (Metres)	To (Metres)	Length (Meters)*)
ZDD-05	63.16	69.08	5.92
ZDD-05	79.60	80.66	1.60
ZDD-05	104.04	104.98	0.94
ZDD-05	107.10	115.89	8.79
ZDD-05	117.02	121.00	3.98
ZDD-05	124.00	142.38	18.38**)

*) drilled widths

**) and still in mineralisation

From surface showings, our technical team anticipated one massive 5-6m intersection as well as a number of narrow intersections in the footwall. The hole was intended to finish at a depth of 125m but drilling will continue until it passes through the ore body. These intersections as well as the fact that mineralisation remains open at depth underlines Zulu's potential.

Eucryptite identified in ZDD 16.

Eucryptite is a lithium bearing aluminium silicate mineral with formula LiAlSiO_4. Its typical occurrence is in lithium-rich pegmatites in association with albite, spodumene, petalite, amblygonite, lepidolite and quartz.. The mineral contains some 11.8% Lithium Oxide (Li₂O), (or 29% Lithium Carbonate Equivalent (LCE)) compared to 8% (19,78% LCE) in spodumene and 4.5% (11,13% LCE) in petalite. It is a secondary mineral derived from spodumene and is likely to occur coincidental to fault zones that are common in the Zulu pegmatites.

About Tantalum

The primary source of tantalum is from minerals such as tantalite, columbite, wodginite and microlite contained in pegmatite ore bodies and/or alluvial and eluvial sediments. It is predominantly used is in capacitors for consumer electronics, particularly where long battery life and high performance is required such as smart phones, tablets and laptops. Tantalite concentrate is currently trading in excess of US$120 per kg.  

Sampling and Assaying Procedures

The drill cores were recorded and logged. The cores were then sawn and one quarter of the core was submitted to the Company's own laboratory for sample preparation. After crushing the entire sample to -6mm, approximately 200 g were split off and pulverised. A 50 g split off sample is submitted to SGS South Africa for a multi-element scan using sodium peroxide fusion followed by ICP-OES/ICP-MS. 12% of the submitted samples are check samples including blanks and duplicates. A further split off of every sample was assayed for niobium and tantalum at the Company's laboratory using a calibrated desk mounted XRF. These results were corrected by using samples with well-defined niobium and tantalum grades as standards.

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), 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.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

Fuad Sillem	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 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 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.

For more information on Pilbara Minerals Ltd, please visit:

 http://www.pilbaraminerals.com.au/pilgangoora-lithium-tantalum-project

Glossary of Technical Terms

 "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

"Nb2O5" is diniobium pentoxide

"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

"spodumene" is the mineral name for lithium aluminium silicate LiAlSi2O6 an important ore of lithium.
"Ta2O5" is ditantalum pentoxide

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

ENDS

 

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