Zulu Drilling Update

RNS Number : 5519R

Premier African Minerals Limited

05 November 2021

 

5 November 2021  

Premier African Minerals Limited

Zulu Drilling Update

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

Highlights:

·	Preliminary drilling of first step out zones one and two now completed
·	Three rigs now operating
·	Geotechnical training of local technical staff completed
·	Geotechnical core logging and inspections have commenced, using industry standard operating procedures
·	Resource estimate update commenced
·	19 bore holes now completed, and 3,231 meters drilled
·	Complete sample set from first 5 drill holes submitted to external laboratories for assay

George Roach, CEO commented ," We continue to make good progress and visible mineralised intersections in core from drilling in the main zone continue to add confidence to the original 20.1 million tonnes inferred resource estimate already declared on 6 June 2017. At the same time, preliminary drilling in the first two step out zones has now completed and based on visible intersections and observations by our geological team at site, and subject to assay and modelling, we do expect that this will add substantially to the existing resource estimate. The step out zones drilled to date form extensions to the main ore body and had not formed part of the original resource estimate.

Our sample preparation team at Zulu has been strengthened with a second core cutting and management team and the commissioning of a second primary laboratory crusher. It is worth noting that whilst the act of analysing a prepared sample using the LIBS system is a matter of seconds, the accuracy, repeatability and confidence in that analysis is entirely dependent on the quality of the sample prepared. Considerable time, effort and expertise goes into this, over and above the care and effort associated with drilling through particularly abrasive wide intersections of pegmatite.

On the one hand, this is frustratingly slow, but on the other, it is indicative of widely dispersed pegmatite and wide intersections of potentially mineralised material at Zulu. It should also be noted that Premier only drills core and whilst this is considerably slower and more expensive than other drilling methods such as reverse circulation, the benefits include the ability to better define the ore body, better identify mineralisation and minerology, deal with geo-technical requirements needed to support mine and pit design, and generally allow other aspects of the Definitive Feasibility Study ("DFS") to proceed simultaneously with the drilling programme.

We have submitted sample material from the first 5 bore holes to independent laboratories for definitive assay and will be using these results to specifically validate and calibrate our LIBS system which will facilitate a better turn-around as we progress. I do not have an indication of the time that the laboratory will require to process the 159 samples submitted but I will update as soon as I do.

At the same time, exploration activities in the wider Exclusive Prospecting Area ("EPO") area continue and preliminary results of spectral mapping and interpretation are generating anomalous areas of further potential interest for ground follow up. Premier is not restricted to any specific mineral within this EPO area, that is known to include historic gold workings.

Upward price pressure on chemical grade spodumene for lithium hydroxide production is pervasive and strongly supports our efforts to optimise timelines to completion of our DFS, scheduled for Q3 2022.

Premier is in negotiations with interested parties that have indicated an intention to consider a direct investment such that the complete DFS program may be fully funded in return for acquisition of a minority interest in the Zulu project. Premier continues to consider all alternatives and options that may add value and accelerate development of the project including further direct funding. No agreement has been reached at this time in regard to future funding for the balance of the DFS programme."

Drilling at Zulu:

The Company has now completed 19 drill holes, equivalent to approximately 3,231 meters since the start of the DFS programme. All bar one has intersected visible mineralisation. The current drilling programme is focussed on expanding as well as upgrading the resources in the main zone, and, to delineate further the Lithium mineralisation in the step out zone.

It should be noted that constant near surface mineralisation intersections occur throughout the Step-out Zones and due to the fragmented nature of this weathered near-surface core, it is not all reported in the summaries below. The location of the bore holes now added and their relationship to the main zone can be viewed on the webpage link below:

http://www.rns-pdf.londonstockexchange.com/rns/5519R_1-2021-11-5.pdf

Table 1. Recent Drill Results.

Hole ID	Collar Coordinates (UTM Arc 1950 Z35S)			Inclination -(⁰)	Azimuth (⁰)	End of Hole Depth (m)	Major Intersections
	Easting	Northing	Elevation				From (M)	To (M)	Width
ZDD55	751237	7782438	1313	60	225	211,2	7,55	8,13	0,58
							15,82	16,67	0,85
							50,54	51,00	0,46
							58,10	64,28	6,18
							81,39	82,23	0,84
							90,92	91,46	0,54
ZDD54	751290	7782516	1316	60	225	180,3	62,62	62,72	0,10
							129,68	129,96	0,28
							134,11	134,30	0,19
							134,98	135,20	0,22
ZDD52	751293	7782408	1315	60	225	190	23,91	25,70	1,79
							30,20	30,91	0,71
							42,93	43,13	0,20
							47,32	59,47	12,15
							77,34	77,93	0,59
							170,54	176,05	5,51
							179,85	181,02	1,17
							182,24	183,52	1,28
ZDD50	751217	7782592	1319	60	225	180,3	11,46	12,06	0,60
							13,33	13,49	0,16
							16,39	17,27	0,88
							28,27	28,71	0,44
							29,05	29,40	0,35
							52,56	55,48	2,92
ZDD58	751182	7782514	1316	60	225	180,3	2,24	5,00	2,76
							45,43	45,54	0,11
							50,35	50,79	0,44
							53,92	54,60	0,68
ZDD59	751246	7782580	1319	60	45	180,1	32,82	34,52	1,70
							36,29	37,16	0,87
							39,80	39,94	0,14
							45,33	46,51	1,18
							57,46	62,14	4,68
							65,34	65,49	0,15
							84,00	88,17	4,17
							142,76	143,25	0,49
							144,07	144,72	0,65
							146,04	146,61	0,57
							161,03	165,25	4,22
ZDD51	751257	7782553	1319	60	225	180,3	3,56	4,10	0,54
							4,77	6,23	1,46
							13,41	14,00	0,59
							16,64	16,94	0,30
							17,20	17,49	0,29
							36,54	36,69	0,15
							69,50	69,87	0,37
							142,68	143,20	0,52
							150,66	150,85	0,19
							168,90	169,33	0,43
ZDD57	751211	7782482	1316	60	225	194,7	28,25	28,49	0,24
							49,67	49,96	0,29
							66,77	67,16	0,39
							98,98	99,47	0,49
							161,93	162,05	0,12
							162,33	162,56	0,23
							174,33	174,55	0,22
							179,80	180,79	0,99
							187,43	190,20	2,77
ZDD56	751309	7782515	1316	60	45	180,4	40,19	40,43	0,24
							59,49	59,88	0,39
							85,47	86,91	1,44
							90,00	90,15	0,15
							111,32	111,49	0,17
							113,09	113,63	0,54
							114,18	114,68	0,50
							134,08	134,89	0,81
							140,91	141,05	0,14
ZDD60	751145	7782554	1317	60	225	180,2	0,50	2,87	2,37
							2,87	9,89	7,02
							12,96	13,34	0,38
							35,29	36,54	1,25
							40,40	41,30	0,90
							42,33	42,60	0,27
							45,00	49,00	4,00
							59,12	59,70	0,58
							62,39	64,02	1,63
							106,39	106,58	0,19
							109,14	117,25	8,11
							125,06	126,76	1,70
							127,64	129,19	1,55
							147,00	147,75	0,75
							148,86	149,18	0,32
							171,18	172,73	1,55
							173,27	175,00	1,73
ZDD33	751109	7782154	1323	60	360	157,3	61,22	69,95	8,73
							86,09	91,33	5,24
ZDD34	751111	7782156	1323	60	275	Not completed	62,96	65,88	2,92
							71,72	96,60	24,88
ZDD35R	751086	7782107	1322	60	255	Not completed	26,96	27,48	0,52
							37,34	39,00	1,66
							45,46	57,28	11,82
							108,65	111,10	2,45
							23,50	27,26	3,76
							59,00	63,14	4,14
							79,20	98,40	19,20
							102,85	105,07	2,22
							112,72	114,34	1,62
							124,84	125,80	0,96
							132,45	133,73	1,28
							138,85	148,71	9,86
							166,70	169,73	3,03
GT-SP-05	751154	7782536	1317	70	184	196,4	20,77	21,40	0,63
							32,00	32,55	0,55
							50,25	52,39	2,14
							68,28	68,70	0,42
							74,15	74,92	0,77
							124,70	131,35	6,65
GT-SP-06	751355	7782182	1311	70	220	153,1	0,00	9,59	9,59
							14,98	33,57	18,59
							37,05	38,30	1,25
							42,46	47,86	5,40
							51,30	57,37	6,07
							61,14	62,72	1,58
							95,86	96,43	0,57
GT-SP-07	751346	7782101	1311	70	184	196,4	43,18	44,40	1,22
							46,86	55,90	9,04
							130,65	131,45	0,80
GT-SP-01	751132	7782134	1319	70	359	Not completed	20,55	24,00	3,45
Notes: Section in Bold under Major Intersections are Intersections at 0.5 > M

Qualified Person:

Chris Male, Geologist with Premier, has reviewed and approved this release to the extent that reference is made to the Zulu. Mr. Male is a SACNASP and GSSA registered geoscientist with 13 years' experience in exploration and project management, in multicommodity projects throughout Africa.

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.

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/John More/Toby Gibbs	Shore Capital Stockbrokers Limited	Tel: [phone]
Matthew Bonner	EAS Advisors LLC	Tel: [phone]

Glossary of Technical Terms:

"Li"	Lithium.
"li2O"	Lithium Oxide and is the standard referenced in our Mineral Resource Estimate.
"LIBS"	Laser Induced Breakdown Spectroscopy https://sciaps.com/libs-handheld-laser-analyzers/z-300/ .
"M"	Meters.

Ends

 

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