TIDMPREM
RNS Number : 6438A
Premier African Minerals Limited
25 May 2023
25 May 2023
Premier African Minerals Limited
Zulu Lithium Project Update
Premier African Minerals Limited ("Premier" or the "Company"),
is pleased to provide a further update on progress at Zulu Lithium
and Tantalum Project ("Zulu").
Highlights
-- Plant provider has recommended staged approach to optimisation.
-- First Spodumene (SC6) shipments now scheduled for June
2023.
-- Final optimisation now expected in Quarter 4 of 2023 following
plant modifications.
-- Production from Spodumene float circuit expected to increase
by 25% after final optimisation.
-- Mining operations continue to confirm resource model.
George Roach, CEO commented , "The process plant is fully
commissioned and capable of producing concentrate. The Plant
Supplier has advised that the milling and sizing component of the
plant requires certain limited modifications to allow for full
optimisation to design capacity throughput. The Plant Supplier has
provided details and timelines for this remedial action and pending
completion of this work, has advised that expected production of
concentrate to 30 June 2023 will be 1,376 tons and production for
July and August will be 1,137 tons per month, increasing to 2,359
tons in September, 3,577 tons in October 2023 and 4,471 tons from 1
December 2023.
At present concentrate prices and production at these current
levels to the end of August, the Company expects Zulu to operate
profitably.
The modifications include the upgrade of screening, relocation
of the mill and addition of cyclones to remove correctly sized
material to the floatation plant. Premier understands that the
costs associated with this remedial action will be met by the plant
supplier, and we will work with them to ensure that the plant
achieves nameplate throughput expeditiously.
As announced on 29 March 2023, Premier's requirements to supply
spodumene to Canmax Technologies Co., Ltd. ("Canmax") are to ship
first product by 30 May 2023 (which will not now be met), failing
which CanMax may elect to cancel the Marketing and Pre-Payment
Agreement and require that the prepayment plus interest is settled
within 90 days following notice. Canmax has always been supportive
of Premier, and we continue to engage with them and look forward to
first shipment in June 2023.
While frustrated with the timeline for putting the plant into
full production, I am encouraged by our growing confidence in our
resource and mining operations, near completion of our dam and
tailings facility, performance of the crushing, sorting, and
floatation elements of the plant.
The Company has previously advised that the delays had caused
our cash to be constrained. Recent exercise of options and issue of
remaining shares free from pre-emptive rights by way of direct
placement, has provided interim relief to this position.
Alternative further funding may need to be sought if there are any
further significant shipment delays."
Drill Holes: Lithium & Tantalum Results
The table below sets out the composites determined, as per the
outlined compositing routine in the text below the table, from
analyses received from the independent external laboratory (SGS)
for holes ZDD149, ZDD154, MIDI-GT-05A, MIDI-GT-06, MIDI-GT-07,
MIDI-GT-08, ZT005, ZT011 & ZT012.
Table 1 -Assay Summary Results
Hole From To (m Width* Li(2) Ta(2) Rb ppm
(m) (m) O% O(5) ppm
MDI-GT-05A 195.90 209.55 13.65 1.86 127 539
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-06 67.60 75.55 7.95 1.34 77 1161
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-06 125.40 132.55 7.15 1.33 75 1565
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-07 48.87 54.32 5.45 1.41 76 1652
MDI-GT-07 70.00 75.64 5.64 1.03 45 1585
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-07 79.33 88.20 8.87 0.87 112 1689
Incl. 80.33 81.33 1.00 1.68 167 1301
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-07 104.25 106.82 2.57 1.26 45 1092
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-07 117.30 120.24 2.94 1.91 62 1399
Incl. 117.30 118.30 1.00 3.23 79 1677
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-07 131.77 140.20 8.26 1.14 111 1088
Incl. 132.77 133.84 1.07 1.92 2 771
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-08 90.10 96.10 6.00 0.95 85 1522
Incl. 92.10 93.10 1.00 1.88 123 1635
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-08 130.68 133.61 2.93 2.18 32 393
------------ ------- ------- ------- ------ ---------- -------
MDI-GT-08 137.45 146.55 9.10 1.52 56 1471
Incl. 140.00 141.85 1.85 2.32 102 1234
------------ ------- ------- ------- ------ ---------- -------
ZDD149 295.56 297.88 2.32 1.20 18 2408
------------ ------- ------- ------- ------ ---------- -------
ZDD149 300.19 302.52 2.33 1.25 53 433
------------ ------- ------- ------- ------ ---------- -------
ZDD154 222.32 229.18 6.86 1.60 72 667
------------ ------- ------- ------- ------ ---------- -------
ZT005 22.00 24.00 2.00 1.20 72 1800
------------ ------- ------- ------- ------ ---------- -------
ZT005 27.60 30.10 2.50 0.66 58 1140
------------ ------- ------- ------- ------ ---------- -------
ZT005 35.40 38.00 2.60 1.43 54 1312
------------ ------- ------- ------- ------ ---------- -------
ZT005 42.60 47.50 4.90 0.53 85 1657
------------ ------- ------- ------- ------ ---------- -------
ZT011 71.11 73.50 2.39 0.87 53 3550
------------ ------- ------- ------- ------ ---------- -------
ZT012 35.71 41.00 5.29 0.54 58 2776
------------ ------- ------- ------- ------ ---------- -------
*Not True Width but drilled width
**0.50% Li(2) O cut-off applied.
The following compositing routine has been applied:
-- 0.50% Li(2) O cut-off was applied to the pegmatitic intersections only.
-- <2m standalone composites at the cut-off grade but with an overall weighted average grade
of >0.5% Li(2) O are not reported.
-- Within any composite of >2m thickness, high-grade intersections of 1m and greater are reported
provided the high-grade intersection is a multiple of x 1.5 of the overall weighted composite
grade, and
-- Within any composite, inclusions of country rock of <2m thickness are included within the
composite provided the overall grade of the composite is not <0.50% Li(2) O.
The following Table 3 sets out the drill hole collar coordinates
for the drill holes reported in Table 1 above:
Table 2 - Drill Holes Collar Coordinates
Dhole UTM 35S* UTM 35S* Elevation Azimuth Collar EOH
Easting Northing (AMSL) TN ( deg Dip (m)
) ( deg
)
MDI-GT-05A 751164.023 7782864.865 1341.68 19.41 -69.68 250.1
------------ ------------ ---------- ---------- ------- -------
MDI-GT-06 751095.609 7782404.083 1316.569 153.92 -71.25 202.48
------------ ------------ ---------- ---------- ------- -------
MDI-GT-07 751167.197 7782345.715 1313.152 217.4 -67.48 202.58
------------ ------------ ---------- ---------- ------- -------
MDI-GT-08 751109.254 7782250.679 1324.084 194.27 -70.48 151.68
------------ ------------ ---------- ---------- ------- -------
ZDD149 750709.986 7782110.631 1328.076 105.94 -50.76 361.68
------------ ------------ ---------- ---------- ------- -------
ZDD154 751077.739 7782108.867 1320.744 291.6 -53.56 251.48
------------ ------------ ---------- ---------- ------- -------
ZT005 751196.456 7782304.848 1312.501 290 0 127.00
------------ ------------ ---------- ---------- ------- -------
ZT011 751226.4069 7782721.784 1331.701 290 0 98.00
------------ ------------ ---------- ---------- ------- -------
ZT012 751199.5709 7782684.17 1326.97 290 0 80.50
------------ ------------ ---------- ---------- ------- -------
* ARC1950 Datum (10m local datum shift)
The Geology of Zulu
The area, located in the Fort Rixon Greenstone Belt, is
underlain by Archaean-aged meta-volcanics and meta-sedimentary
sequences of the Bulawayan Supergroup, with serpentinites and
banded iron formations at the base in the east and metamorphosed
volcano-sedimentary sequences to the west. The greenstone belt is
tear drop shaped measuring 30 km long and 19 km wide near the broad
section at the top. Metamorphism is retrograded to Greenschist
facies.
The Zulu Pegmatite is a LCT (Lithium-Caesium-Tantalum) pegmatite
swarm which intrudes along the contacts between serpentine and
metamorphosed volcano-sedimentary sequences over a strike length of
several kilometres. Outcrop widths vary between 10 and 50m. The
pegmatite bodies strike N20deg and dip 70deg to 90deg to the
west.
The area was first pegged in 1955 by J.S. Willemse and intensely
explored, under option, by mapping, trenching, and drilling by
Rhodesian Selection Trust Co. Ltd. ("RST") in 1958. In 1961 and
1962 a small quantity of petalite from the River Pegmatites (see
below) was mined by W. Burchett in partnership with J.S. Willemse.
Premier later acquired the claims in 2013.
Recent mapping and interpretation of the pegmatite swarm from
semi-quantitative X-Ray Diffraction (XRD) has identified three
distinct phases of pegmatites. A spodumene-rich, thick pegmatite
named the Main Zone which lies north and south of the Machakwe
River, footwall low-spodumene pegmatites with associated tantalum
and rubidium and a suite of petalite-bearing pegmatites of short
strike length, named the River Pegmatites.
In general, the lithium minerals, occurring in varying
quantities, are coarse grained with associated feldspars and quartz
with only very minor sulphides being observed. In several contact
zones, the lithium-bearing amphibole, holmquistite, has been
observed.
Qualified Person
Bruce Cumming, consulting geologist with Premier, has reviewed
and approved this release to the extent that reference is made to
the Zulu. Mr. Cumming is a SACNASP and GSSA registered geoscientist
with 47 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.
Enquiries:
George Roach Premier African Minerals Tel: +27 (0) 100
Limited 201 281
Michael Cornish Beaumont Cornish Limited Tel: +44 (0) 20
/ Roland Cornish (Nominated Adviser) 7628 3396
--------------------------- -----------------
Douglas Crippen CMC Markets UK Plc Tel: +44 (0) 20
3003 8632
--------------------------- -----------------
John More/Toby Shore Capital Stockbrokers Tel: +44 (0) 20
Gibbs Limited 7408 4090
--------------------------- -----------------
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.
Glossary
"amphibole" A class of rock-forming silicate or aluminosilicate
minerals typically occurring as fibrous or columnar
crystals.
-----------------------------------------------------------
"Banded A sedimentary rock consisting of alternating layers
Iron Formation of iron oxides and iron-poor chert.
(BIF)"
-----------------------------------------------------------
"Greenschist The Greenschist facies is at low pressure and temperature.
facies" The facies is named for the typical schistose texture
of the rocks and green colour of the minerals chlorite,
epidote and actinolite.
-----------------------------------------------------------
"feldspar" An aluminosilicate mineral consisting of potassium,
sodium, and calcium.
-----------------------------------------------------------
"Holmquistite" A lithium-bearing amphibole related to hornblende
with a formula as (Na,K,Ca)Li(Mg,Fe)(3) Al(2) Si(8)
O(22) (OH)(2.)
-----------------------------------------------------------
"Lepidolite" A pink to lavender coloured lithium bearing mineral
(KLi 2 Al(Si 4 O 10 )(F,OH) 2 ).
-----------------------------------------------------------
"Li to Li2O" x 2.153.
-----------------------------------------------------------
"Li" Lithium.
-----------------------------------------------------------
"Li(2) O" Lithium Oxide (Lithia) - an inorganic lithium compound
used to assess lithium minerals.
-----------------------------------------------------------
"m" Meters.
-----------------------------------------------------------
"meta-sediments" Sedimentary rocks that have been metamorphosed.
-----------------------------------------------------------
"meta-volcanics" Volcanic rocks that have been metamorphosed.
-----------------------------------------------------------
"Petalite" A white coloured lithium bearing mineral (LiAl(Si
4 O 10 )).
-----------------------------------------------------------
"Plant Supplier" Stark Resources.
-----------------------------------------------------------
"ppm" parts per million.
-----------------------------------------------------------
"Rb" Rubidium.
-----------------------------------------------------------
"serpentinite" A dark, typically greenish metamorphic rock, consisting
of serpentine or related minerals, formed when mafic
igneous rocks are altered.
-----------------------------------------------------------
"Spodumene" A white to pink coloured lithium bearing mineral
(LiAlSi 2 O 6 ).
-----------------------------------------------------------
"Ta to Ta2O5" x 1.221.
-----------------------------------------------------------
"Ta" Tantalum.
-----------------------------------------------------------
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.
Ends
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