Zulu Pilot Plant Update

RNS Number : 6005Q

Premier African Minerals Limited

21 February 2023

 

21 February 2023

Premier African Minerals Limited

Zulu Pilot Plant Update

Premier African Minerals Limited ("Premier" or the "Company"), is pleased to provide this update on progress and developments at Premier's Zulu Lithium and Tantalum Project ("Zulu").

George Roach, CEO commented , "We are in the home stretch in terms of final plant assembly and commissioning, and we remain on track to produce spodumene concentrate (SC6) this Q1 as planned.

The major components of final assembly and commissioning are set out below and I provide a status report.

·	Floatation circuits. All major structures, tanks, associated civils are complete and pipework, electrical and pneumatic connections are now being assembled.
·	Crush, sorting, screening, and milling. With the exception of the secondary crushing circuit, that is expected this week, all major components are installed and ready for power up.
·	Water supply. Main storage dam is at 10 meters and already contains sufficient water for ongoing operations.
·	Generators and electrical motor control centres are on route and will be installed immediately on arrival from Johannesburg.
·	Mining operations. Pit clearing and exposure of the ore body is underway.

Major earthworks including tailings facility are well advanced and are not expected to cause any delay at this time. A particularly wet season has not helped but what has been achieved despite this and numerous difficulties associated with logistics, borders, ongoing relocations, inter alia is quite remarkable. In July 2022 this was nothing but bush, today we have a mine.

I expect more significant assay results in the coming weeks and look forward to reporting on our first production."

Video of plant layout in situ at Zulu:

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 as it forms part of UK Domestic Law by virtue of the European Union (Withdrawal) Act 2018.

The person who arranged the release of this announcement on behalf of the Company was George Roach.

Enquiries:

George Roach	Premier African Minerals Limited	Tel: [phone]
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: [phone]
John More/Toby Gibbs	Shore Capital Stockbrokers Limited	Tel: [phone]

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.

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 has a ccepted a share offer by Vortex Limited ("Vortex") for the exchange of Premier's entire 4.8% interest in Circum Minerals Limited  ("Circum"), the owners of the Danakil Potash Project in Ethiopia, for a 13.1% interest in the enlarged share capital of Vortex. Vortex has an interest of 36.7% in Circum .

In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.

 
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