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(PREM) Premier African Minerals Share Chat

Discussion in 'General Share Chat (PREM)' started by rodrod1, Feb 24, 2016.

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    30 November 2020

    Premier African Minerals Limited


    Positive Gold Assay Results from Ligonha Gold Project

    Premier African Minerals Limited ("Premier" or the "Company") is pleased to report assay results from recent sampling pursuant to a site visit and preliminary geological review of the recently acquired Mozambique tenement, as set out in our RNS of 28 July 2020 and 1 September 2020.

    Highlights

    · Best grade of 23.7 g/t gold in Sample BE003711 (see Table 1 below), a quartz vein sample from an artisanal mining pit

    · Several alluvial samples carry grades between 1.11g/t gold (Sample ID: BE003722) and 1.72 g/t gold (Sample ID: BE003728)

    George Roach, Chief Executive of Premier commented, "This remains an early stage exploration and no resource conclusions may be drawn at this time. The tenement area remains small, but applications are in process to expand the area on anticipated strike. The detection of gold in many samples taken and the specific location of the higher-grade samples is encouraging and supports our plans to expand exploration in this jurisdiction. Worth noting are the elevated grades of silver in all samples and the potential commercial significance of this in any future mine development.

    At the same time, Premier has proceeded with other prospecting applications in other areas in the Nampula province of Mozambique where active artisanal mining is taking place and is evaluating further similar areas of activity remote from this existing tenement but in the same administrative district of Zambezi Province. There is good reason to expect that Mozambique is likely to be one of the gold exploration districts Premier is expanding into as we mitigate historic country risk.

    I am conscious that shareholders anticipate further updates and developments, and these will be forthcoming in the near future".

    Geological setting and Assay Conclusion
    Premier's Mozambique tenement was acquired in June 2020 and comprises a 100-hectare block located within the Alto Ligonha Pegmatite Province of Mozambique, which is largely located in the NNE - SSW trending Namama Thrust Belt which extends from Mocuba in the southwest to approximately 100km northeast of Alto Molocue in the northeast in the Zambézia Province of northern Mozambique.

    Artisanal workings were identified within the project area and the existing artisanal miners exploit narrow auriferous quartz veins with visible gold in a number of E-W trending pits. Host rock is mainly a banded biotite gneiss. Other miners extract small gold particles from eluvial sediments above primary, i.e. bedrock, mineralization, or, from alluvial, i.e. riverbed, sediments.

    The limited analytical data to date point to free gold bearing quartz veins with small amounts of sulfides such as pyrite, chalcopyrite and arsenopyrite. All samples, including the alluvial and eluvial samples, contain elevated grades of silver, ranging from 8g/t to 45 g/t silver. No other elements of economic significance have been detected in these initial assay results.

    Table 1: Assay Results

    https://www.londonstockexchange.com...d-assay-results-ligonha-gold-project/14772913
     
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    12 March 2021

    Premier African Minerals Limited

    ("Premier" or the "Company")

    Grant of Exclusive Prospecting Order Zulu Lithium and Tantalum

    Premier African Minerals Ltd ("Premier" or the "Company"), is pleased to announce the formal grant of an Exclusive Prospecting Order No. 1779 ("EPO") over an area that encompasses the Zulu Lithium and Tantalum claims ("Zulu") in the Fort Rixon district of Zimbabwe for a period of three years with effect from 12 March 2021 to 11 March 2024. Details of the grant of the EPO are contained in the Zimbabwe Government Gazette published today.

    George Roach, Chief Executive of Premier commented:

    "I am deeply appreciative of the Zimbabwe Government for the granting of this substantial EPO and Premier will reciprocate with mobilization for the commencement of the Definitive Feasibility Study ("DFS") on the Zulu deposit which has an estimated completion time of 14 months. The EPO area is described in more detail below, and it is important that there are further known lithium bearing pegmatites offering upside to Zulu as well as historic small gold mines, potential molybdenite and many scheelite (a tungsten mineral) occurrences within the area.

    Zulu remains a significant deposit. Premier has previously published an in-house maiden Inferred mineral resource estimate prepared in accordance with SAMREC of 20.1 million tonnes grading 1.06% lithium oxide and 51 ppm Ta₂O₅ using a cut-off grade of 0.5% Li₂O. Since the maiden Mineral Resource Estimate, the geological model has been optimised as at least six new zones of lithium mineralisation have been discovered, supporting an exploration target of up to 80 million tonnes. Test work conducted by Anzaplan in Germany on behalf of Premier confirmed that low iron spodumene concentrates of up to 6.5% contained Lithium equivalent was attainable and an independent scoping study prepared by Bara Consulting for Zulu was most encouraging.

    The granting of the EPO reaffirms the Zimbabwean Government policy that Zimbabwe is open for business and further supports the Ministry of Mines policy of creating a US$12 billion mining economy by 2023.

    Premier expects to provide details in regard to further developments associated with Zulu and full details of the terms and conditions associated with the grant of the EPO in the near future."

    About Zulu EPO

    The EPO area is prospective for and has a history of producing other minerals. The opportunities are briefly summarised below and are based on Bulletin 61 published by N.M Harrison of the Rhodesia Geological Survey, titled "The Geology of the Country around Fort Rixon and Shangani" in 1969 and which has not been independently verified by the Company.

    LCT Pegmatites

    Besides the Zulu Lithium, Caesium and Tantalum ("LCT") Pegmatite), the EPO area has two other main LCT showings, the Deep Purple pegmatite veins and the Altyr pegmatite veins. Deep Purple is situated some 5km south-east of Zulu, Altyr is situated some 12 km south of Zulu. The first showing is small but according to the Bulletin of the Geological Survey (1969) is said to contain remarkably high lithium, caesium, tantalum, and beryllium grades. Altyr is somewhat larger and contains visibly identifiable amounts of spodumene, petalite and lepidolite, the three main lithium bearing minerals of economic interest.

    Further to these, there are many more small lithium bearing pegmatites sub-outcropping north, east and south of Zulu. None of these have ever been tested to determine whether they are part of large pegmatite bodies. Particularly the eastern two-thirds of the EPO are mainly flat and covered by a thick layer of soil that makes any visual identification of lithium bearing pegmatites impossible. Only systematic exploration of the EPO will help to discover more pegmatites of economic potential.

    According to the geological interpretation of the EPO, Premier believes based on its own interpretation that LCT pegmatites could occur over a strike length of 24km, i.e., over the whole length of the EPO. Gold

    The most western part of the EPO is underlain by a small part of the so-called Fort Rixon gold belt where industrial gold mining took place since the late 19th century. There are more than 100 small to medium sized gold mines in this belt, none of them have been mined on an industrial scale since the 1960s. However, artisanal gold mining is carried out by the local population at many of these mines.

    Besides an unknown number of new sites of artisanal gold mining and according to the Bulletin of the Geological Survey (1969), the EPO is known to host at least 6 old gold mines:
    Screenshot_20210312-100139.jpg

    Presently, the Pioneer mine seems to be the most active site of artisanal gold mining. It is estimated that more than 200 local gold miners successfully exploit high grade quartz reefs and veins.

    Molybdenum

    The mineral molybdenite, the principal molybdenum ore mineral, is known from the Zulu pegmatites in small, non-economic quantities since the 1950s. However, one diamond drill hole (ZDD37) intercepted up to 20m thick epidosites with disseminated molybdenite mineralization. This mineralization is most likely related to metasomatic processes due to the intrusion of the massive granitic pluton situated just north of the Zulu concession.

    Careful exploration of the EPO could possibly unveil sites with economic molybdenum mineralization.

    Tungsten

    Since the 1950s, the Zulu pegmatites are known to carry small uneconomic quantities of scheelite, one of the two principal tungsten ore minerals. According to the Bulletin of the Geological Survey (1969), quite a few of the abandoned gold mines seem to be rich in scheelite, although no grades were given. Exploration of the EPO will demonstrate whether exploitable scheelite occurrences exist.

    Other
    Process test work by Anzaplan on Zulu pegmatites has shown that they contain large amounts of high-quality quartz and feldspar. Both could become potential by-products of the Zulu mine. The other pegmatites of the region could also contain beryl, the principal beryllium ore mineral, and coloured gemstones like topaz, tourmaline, and others. Where the pegmatites are closely situated to ultramafic sequences, emerald may occur.

    Qualified Person

    The information in this announcement that relates to the Mineral Resource Estimate and the background geological information on the Zulu EPO is based on data compiled and verified by Wolfgang Hampel.


    Wolfgang Hampel, Senior Geologist with Premier African Minerals Limited has reviewed and approved this release to the extent that reference is made to the Zulu tenements. Mr Hampel has 30years' relevant 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.

    Mr Hampel has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined by the 2007 edition of the South African Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves (SAMREC). Mr Hampel has reviewed and approved this announcement and the commentary above to the extent reference is made to geological resource and resource grade and accepts responsibility for the accuracy of the statements disclosed in this announcement.
     
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    18 March 2021

    Premier African Minerals Limited

    ("Premier" or the "Company")

    Update on Corporate Strategy for Zulu Lithium

    Premier African Minerals Ltd ("Premier" or the "Company"), is pleased to provide this update on progress and strategy to be applied in the future development of both Premier and Zulu Lithium and Tantalum Limited ("Zulu").

    George Roach, Chief Executive of Premier commented:

    "With both the emerging short supply and simultaneous escalating price and demand for spodumene and the grant of the Exclusive Prospecting Order ("EPO") as announced on 17 March 2021, Premier's prospects are today fundamentally different. And whereas the Board was of the view historically that on grant of the EPO, development of Zulu would almost certainly follow a path of ultimate joint venture development with a surrender of a significant direct equity stake in Zulu, Premier's present market value suggests that retention of 100% of Zulu is now potentially a better option. The strategy related to the divestment of our Zimbabwe assets may no longer be appropriate. Accordingly, Premier will focus on the development of Zulu and realisation of the potential true value of this asset and proper exploration of the upside potential in the EPO.

    Complementing this, Premier and MN Holdings Limited ("MNH") continue to develop our mutual interests in the operating Otjozondu Manganese Mine in Namibia. It is also worth noting that anything that the Board of Premier considers to be of value and in the best interest of the Company will attract an overall lower cost in terms of any existing dilution for Premier shareholders as underpinned by the potential value in Zulu.

    The Definitive Feasibility Study ("DFS") timeline is estimated at 14 months and this is unlikely to change. Subsequent to completion of our Zulu resource estimate, further drilling identified additional prospective zonesas announced on 2 February 2018 and supported the mine plan included in the scoping study prepared by Bara Consulting of 1,000,000 tonnes run of mine ore per annum with a projected grade of 1.39% Li in the first year.

    Subsequent to the awarding of the EPO for Zulu, Premier has received multiple approaches both proposing direct funding for the Zulu DFS as well as investment linked to product take off and future mine development. Premier is evaluating these and now expects to be able to update our shareholders on the way forward by the end of this month.

    In closing, it is worth noting that the Zimbabwean Government's award of the EPO at Zulu and several other EPO applications, is a clear signal that Zimbabwe is truly open for business and is taking steps to achieving their long-term mining goals."


    This announcement contains inside information for the purposes of Article 7 of EU Regulation No. 596/2014 on market abuse. The person who arranged for the release of this announcement on behalf of the Company was George Roach, Director.
     
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    Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

    For immediate release

    11 May 2021

    Premier African Minerals Limited

    Circum Minerals Limited Shareholder Update

    Premier African Minerals Limited ("Premier" or the "Company"), is pleased to report that it has received a shareholder letter ("Shareholder Letter") from the board of Circum Minerals Limited ("Circum"), in respect of which Premier holds 5,010,333 shares, providing an update in Circum's current activities.

    The full text of the Shareholder Letter to Circum shareholders is available from Premier's website:

    https://www.premierafricanminerals.com/projects/investments/circum-minerals

    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.
     
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    3 June 2021

    Premier African Minerals Limited


    Placing and Funding of Zulu DFS Drilling Programme


    The Board of Premier African Minerals Limited ("Premier" or the "Company") is pleased to announce a placing today to raise £1,000,000 before expenses at an issue price of 0.16 pence per new ordinary share for the ongoing Definitive Feasibility Study ("DFS") at the Company's Zulu Lithium project in Zimbabwe ("Zulu").

    George Roach, CEO commented: "The detailed planning, construction of the exploration camp, road repairs and location of equipment to site, and other work associated with the resource expansion and definition drilling for the DFS at Zulu is progressing and to date has been funded from Premier's retained cash resources. This placement is intended to ensure two definitive objectives.

    · That there is no interruption to the work in progress at Zulu, and

    · Allow additional time to both enhance value through the DFS, and comprehensively and without any pressure assess other options available to fund the balance of the DFS.


    It is worth noting that this placement today represents a nominal dilution of approximately 3.5% and is a small price to pay for retention of 100% of Zulu and the potential upside from the Exclusive Prospecting Order.

    I expect to report details of early drilling later this month together with updates on RHA Tungsten Private Limited, MN Holding Limited, Circum Minerals limited and other developments."


    Placing

    Premier has today issued by way of a placing ("Placing"), conditional on admission, 625,000,000 new ordinary shares of nil par value ("Placing Shares") at a Placing price of 0.16 pence per Placing Share. The Placing Shares will, when issued, rank pari passu in all respects with the existing ordinary shares. Monecor (London) Ltd, trading as ETX Capital ("ETX Capital"), acted as the Company's sole placing agent in respect of the Placing.

    Application will be made for the Placing Shares to be admitted to trading on AIM and admission is expected to take place on or around 9 June 2021.

    The Placing has been arranged within the Company's existing share authorities. Premier intends to use the proceeds of the Placing to assist with the funding of the ongoing drilling at Zulu for the DFS and general working capital purposes necessary for the Group.


    Total Voting Rights

    Following the issue of the Placing Shares, the Company's issued share capital consists of 18,418,009,831 Ordinary Shares, with voting rights. This figure may be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

    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.
     
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