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Premier African Minerals Ltd.
Summary
| Project: | Zulu | |
|---|---|---|
| Deposit: | Main Zone | |
| Location: | Zimbabwe | |
| Commodities: | Lithium | |
| Date: | 2/2/2018 | |
| Report Code: | (no Code) | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 2-2-2018: Premier African Minerals Ltd. announces an Exploration/Drilling Update report for its Main Zone deposit at the Zulu project. Drilling results incl. 10.35m @ 1.04% Li2O from 136.4m. Premier African Minerals Limited ("Premier" or the "Company") is | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Wolfgang Hampel (Internal) | |
| ABSTRACT: | Premier African Minerals Limited ("Premier" or the "Company") is pleased to share further assay results from the Company's Zulu Lithium Project near Fort Rixon in Zimbabwe ("Zulu"). Results now released are from the drilling programme completed in late 2017, immediately preceding the wet season. The bore hole programme was wide-spaced with the dual purpose of expanding the identified mineralised zones as well as increasing the Maiden Inferred Mineral Resource Estimate of 20.1 million tonnes grading 1.06% Li₂O. Every bore hole has intersected mineralised pegmatite ore bodies and all but one has returned wide intersections with grades ranging from over 4% Li2O equivalent to our cut-off grade of 0.5% Li2O George Roach, Premier's CEO, commented: "These drilling results reaffirm the size potential of the Zulu deposit. The results also continue to return high ratios of spodumene to petalite and confirm a core of high-grade mineralisation that is strongly supportive of the high internal rates of return and very rapid payback predicted in our recently released scoping study. "The next drilling programme will seek to expand the wide intersections and further define the high-grade core. This is expected to result in an elevated level of confidence in the resource and the ability to move rapidly to a definitive study based on a mining plan optimised to take advantage of this tightly confined and relatively shallow high-grade core of spodumene. "Meanwhile, activity at a corporate level has been extremely busy as we continue to engage with potential new stakeholders and partners to advance the Zulu Lithium Project and have recently seen a significant increase in interest from foreign investors in the Zimbabwean mining sector." | |
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