Zulu Maiden Lithium and Tantalum Inferred Resource

Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining

For immediate release

06 June 2017

Premier African Minerals Limited

                                                  ("Premier" or the "Company")

 

Zulu Maiden Lithium and Tantalum Inferred Resource

 526,000 tonnes of LCE contained in 20.1 million tonnes @ 1.06 % Li₂O

 

Premier African Minerals Limited, the AIM-traded, multi-commodity resource and development Company focused on Southern and Western Africa, is pleased to report its maiden SAMREC compliant Mineral Resource Estimate ("MRE") on its wholly-owned Zulu Lithium and Tantalum project ("Zulu") in Zimbabwe, a country with a long-established history of lithium production.

 

Highlights:

·     Maiden SAMREC Compliant Inferred Mineral Resource Estimate of 20.1 million tonnes @ 1.06 % Li₂O and 51 ppm Ta₂O₅ using a cut-off grade of 0.5% Li₂O.

·     Containing 526,000 tonnes of Lithium Carbonate Equivalent ("LCE") and 1,025 tonnes of Tantalum Pentoxide.

·     Maiden Resource Estimate covers only 35% of Zulu's known 3.5km surface strike length and drilling continues to upgrade and expand this Mineral Resource Estimate.

·     Deposit remains open at depth and along strike.

·     Exploration target has the potential to increase the maiden Mineral Resource Estimate.

·     Metallurgical test work underway.

 

George Roach, Chairman and CEO commented: "We are extremely pleased with this initial maiden resource estimate, which reinforces our belief that Zulu is a very significant new lithium deposit with all the hallmarks of a world-class lithium project. The maiden inferred mineral resource estimate is based on our initial 2,511m exploration drilling programme which was focussed on only 1,200m of the southern part of the known 3.5km strike length of the project. The drilling programme confirms that the deposit remains open at depth and on strike.

 

"We commenced an extended drilling programme focussed on infill drilling in the southern part of the deposit as well as step out drilling of various areas along the 3.5km known strike length, which we believe to host further substantial lithium mineralisation. To date, the results have been very good and we are looking forward to delivering further additions to our resource inventory in the coming months and laying the foundations for a substantial, long-life strategic metal business."

 

 

 

Mineral Resource Estimate:

The Mineral Resource Estimate ("MRE") is based on assay results of 20 diamond drill holes totalling 2,511 metres drilled between September 2016 and February 2017, as well as the results of 3 deeper diamond drill holes drilled in 2011.  The Mineral Resource Estimate was carried out by Mr. Gerard Evans, Resource Geologist with the Company, using Datamine resource modelling software.  

 

The geological model is based on the drill hole data and surface observations. A process called Dynamic Anisotropy was utilised so that integrity of the varying strike and dip of the ore body was maintained. The resulting resource model is currently classified as inferred in the model at this stage due to the erratic nature of the ore and spatial distribution of the drill holes. Further drilling, currently underway, is designed to increase the confidence in the resource to the indicated category and expand the inferred mineralisation envelope.

 

The maiden Mineral Resource Estimate set out in Table 1 below is prepared in accordance with SAMREC and in compliance with Appendix 3 of the AIM Note for Mining and Oil & Gas Companies - June 2009.

 

Table 1: Summary of Zulu Lithium and Tantalum Project's Mineral Resource Estimate using a cut-off of 0.5% Li₂0):

Category	Gross			Net attributable			Operator
	Tonnes (millions)	Grade Li₂0 %	Contained Li₂0 in tonnes	Tonnes (millions)	Grade Li₂0 %	Contained Li₂0 in tonnes
Mineral Resources
Measured	-	-	-	-	-	-
Indicated	-	-	-	-	-	-
Inferred	20,112,736	1.06	213,195	20,112,736	1.06	213,195	Premier
Total	20,112,736	1.06	213,195	20,112,736	1.06	213,195	Premier

 

Notes:

1.   Premier is the operator of the Zulu Lithium and Tantalum Project ("Zulu").

2.   Premier currently holds 100 per cent. interest in Zulu.

3.   Mineral Resources which are not Mineral Reserves have no demonstrated economic viability.

4.   The effective date of the Mineral Resource is 01 June 2017.

5.   Mineral Resources for Zulu have been calculated using a cut-off of 0.5% Li₂0 and classified according to SAMREC.

6.   The Mineral Resource Estimate is based on information compiled by the Company and reviewed by Mr Wolfgang Hampel (as described further below).

 

 

 

 

Table 2: Mineral Resources at Different Cut-off Grades:

Tonnes	Li2O %	Ta2O5 ppm	Contained tonnes Li2O	Cut-off grade %
63,338,990	0.43	54	272,357	0
28,273,286	0.85	49	240,322	0.25
20,112,736	1.06	51	213,195	0.5
7,159,048	1.50	42	107,385	1.1

 

Exploration Target:

The deposit has not been closed off by drilling and mineralisation remains open along strike and at depth. Additionally, it is possible that more mineralised pegmatites will be discovered in the area east of the southern pegmatites. This region is covered by a thick soil layer, however, during the harvest in May 2017 a new massive petalite pegmatite was discovered which will be the subject of additional drilling later this year.

 

In the north, outcrops are scarce and the pegmatites cannot be followed in a way that would justify immediate additional drilling. The area presumed to be underlain by more pegmatites will first be covered by a Mobile Metal Ion ("MMI") geochemical survey before new drill targets may be delineated.

 

In the coming months, diamond drilling will continue to be carried out in the southern zone where the outcropping mineralisation and trenching from the 1950s justify further drilling. To improve our level of confidence and to establish a continuity of the mineralisation along strike it will require a further 8,000 to 10,000 metres of drilling. Deep drilling is not planned at this stage, as the initial target is an open pit mining operation. Earlier, relatively deep, inclined drilling to depths of up to 524 metres confirmed the presence of spodumene bearing pegmatites down to vertical depths of more than 200 metres.

 

Due to the current Mineral Resource Estimate being in excess of 20 million tonnes based on diamond drilling conducted to date, Premier believes the exploration target for Zulu to be between 60-80 million tonnes. An exploration target is conceptual in nature and there has been insufficient exploration to estimate a Mineral Resource Estimate in compliance with SAMREC and it is uncertain if further exploration will result in the estimation of a Mineral Resource as defined by SAMREC.

 

In addition, the Company is in the process of delineating more prospective ground for lithium bearing pegmatites.

 

 

About Zulu:

The Zulu Lithium Project comprises 14 mineral claims covering a surface area of 3.5 km² which are prospective for tantalum and lithium mineralisation. The project is located 80 km as the crow flies east of Bulawayo. Fort Rixon is some 15 km further to the west of the project; the nearest village is Pioneer village n°2, some 1 km to the south.    

 

Geological Setting:

The area is underlain by Archaean schists of the Bulawayan System, with serpentinites and banded iron formations at the base in the east and metamorphosed volcanics and sediments as one moves to the west. The schist belt is tear drop shaped measuring 30 km long and 19 km wide near the broad section at the top.  Metamorphism is up to chlorite facies. In the east of the concession epidosites, calc-silicate rocks and gneissic granites prevail. The most northern part of the concession is underlain by a post-Bulawayan massive granite.

 

In the south, the lithium bearing pegmatites concentrate within an up to 120 metre wide zone between mafic and felsic lithologies. Further to the north, the pegmatites occur mainly in mafic sequences. In the very north of the concession, the pegmatites occur also in granites.

 

The true widths of the individual pegmatite veins vary from a few centimetres to approximately 5 metres. They commonly occur in groups of several veins; some of the host rocks between the individual pegmatites have undergone intense lithium metasomatism resulting in the formation of a lithium bearing amphibole called holmquistite. Some of the bigger pegmatite veins show a marked zonation with a barren quartz rich core followed by a spodumene rich zone and an outer zone rich in tantalite and albite.

 

The strike of the individual pegmatites may vary widely but follows more or less N10° in the south and N0° in the north. Some petalite veins in the south follow an E-W direction. The dip of the veins varies as well but the majority of the veins dips with approximately 75° to the west.

 

Lithium Mineralisation at Zulu:

To date, three principal lithium bearing minerals, spodumene, petalite and lepidolite are known from the Zulu pegmatites.  Locally the host rocks of the pegmatites contain also noteworthy amounts of holmquistite, a lithium bearing amphibole.

 

The pegmatites of the southern parts of the concession are dominated by petalite, those pegmatites found further north are dominated by spodumene. The quantitative mineralogy of mineralised petalite pegmatites and their mineralised host rocks, as well as the mineralised spodumene pegmatites and their mineralised host rocks is given in Table 3 below.

To determine the mineralogical composition, four weighted composite samples were prepared: a lower cut off was 0.25% Li₂O was applied, for each 10 cm of mineralised core 1.0 g of previously pulverised material was weighed. All samples were thoroughly mixed and re-pulverised to obtain four representative samples.

The four samples were re-assayed by SGS, both pegmatite samples contain approximately 1% Li₂O on average, the host rock samples contain some 0.32% Li₂O on average. The four samples as per the table below were then studied by quantitative X-ray diffraction through SGS Minerals Services, South Africa.

Table 3: Summary of the Quantitative Minerology of Mineralised Pegmatites:

Mineral	Approximate Formula	PETHOST	PETPEG	SPODHOST	SPODPEG
Units	-	Mass%	Mass%	Mass%	Mass%
Plagioclase	(Na,Ca)(Al,Si)4O8	25.2	53.6	22.5	57.6
K-feldspar	KAlSi3O8	-	11.4	-	8.2
Quartz	SiO2	34.0	12.3	32.6	17.0
Mica	KAl2(Si3Al)O10(OH,F)2	23.5	4.1	18.6	4.2
Petalite	Li(AlSi4O10)	Trace	13.0	2.5	1.1
Spodumene	LiAlSi2O6	-	4.4	-	9.6
Holmquistite	(Li2Mg3Al2)Si8O22(OH)2	8.3	-	5.4	-
Lepidolite	K(Li,Al)2-3(AlSi3O10)(O,OH,F)2	0.0	1.1	-	2.3
Amphibole	Ca-Mg-Fe-Al-OH-Si-O	Trace	-	5.5	-
Chlorite	(Mg,Fe)6(Si,Al)4O10(OH)8	9.1	-	12.9	-

 

Notes:

PETPEG = petalite dominant pegmatites
PETHOST = host rocks of petalite pegmatites
SPODPEG = spodumene dominant pegmatites
SPODHOST = host rocks of spodumene pegmatites

 

Tantalum Mineralisation at Zulu:

Most of the lithium bearing pegmatites at Zulu are only comparatively weakly mineralised with tantalum. The only tantalum bearing mineral observed to date, is tantalite-Mn. High grade tantalum mineralised pegmatite veins occur mainly in the northern part of the concession. The highest tantalum grades of up to 803 ppm Ta₂O₅ are observed in so-called albitites. These are products of intense sodium metasomatism at the contact with pegmatite veins.

 

Exploration History:

The pegmatite was first pegged in 1955 by J.S. Willemse.  Rhodesian Selection Trust Co. Ltd. ("RST") took an option on the claims and carried out an extensive drilling and excavation programme. Though much development work was carried out, Rhodesian Selection Trust declined to exercise their option on the claims. In 1961 and 1962 a small quantity of petalite was mined by W. Burchett in partnership with J.S. Willemse.

In 2010, after decades of no activity, consulting geologist Richard B. Dollar registered the claims in his name and subsequently carried out diamond drilling and trenching financed by Premier. In 2013, the Company exercised an option to acquire the claims.

Mineral Tenement and Land Tenure Status:

The Zulu concession comprises 14 mineral claims owned to 100% by Premier African Minerals. The mineral property is in good standing and there is no known impediment to obtaining a license to operate.

 

Drilling Techniques and Hole Spacing:

In 2011, six diamond drill holes totalling 2,236 metres were drilled by Ox Drilling, Zambia. Core diameters were PQ (85mm) PQ3 (83mm) and HQ (63.5mm). The aim of this drilling campaign was to establish continuation of the pegmatite mineralisation at depth. 1,153 metres of these 6 holes have been surveyed in early 2017 by the new drilling contractor as this had not been done in 2011. The deeper parts of the holes had partly collapsed.

 

The first round of the new diamond drilling programme totalling 2,511 metres for 20 holes started in September 2016 and finished in February 2017. The Zimbabwean company Geodrill, Bulawayo, supplied and operated one and later two drill rigs.  A downhole survey was done on 2,415 metres of the drill holes. Close to surface the holes had HQ diameters, once in stable ground NQ (47mm) was used. 

 

Sampling:

The drill cores were safely packed at site and then transported to the RHA mine by truck. At the mine, the wet cores were photographed and subsequently logged by Wolfgang Hampel, Exploration Manager of Premier African Minerals. The core with visible or suspected mineralisation was marked, numbered and sawn in half, one half was sawn again in half. One quarter of the core was taken for geochemical analysis, the rest is stored at RHA's core shed for future reference.

 

The lengths of the sampled cores varied between 0.16m and 8.79m, depending on the lithology (pegmatite / host rock) and the homogeneity of the pegmatites. Markedly zoned pegmatites have been sampled according to their mineralogical composition.

 

Sample Analysis:

All sample preparation work was carried out at RHA's sample preparation facility at the mine. In a first step, every sample was dried and its density was determined using a density scale (weight wet / weight dry principle). All samples were crushed to -4mm in a jaw crusher and a 200 - 250g split-off was pulverised (minimum of 85% passing 75 microns). A 50g split-off was labelled and sent to SGS South Africa (Randfontein) for multi-element analysis (49 elements). SGS code ICM90A Multi Elements by sodium peroxide fusion, ICP-OES + ICP-MS finish. The sodium peroxide fusion technique is considered to be a "total" dissolution technique for lithium-bearing silicate and tantalum bearing oxide minerals. Detection limits for lithium are 0.01-10% and 0.5-10,000ppm for tantalum.

Certified Reference Material samples (AMIS0343) for lithium, tantalum, niobium, tin and uranium were introduced at a rate of 1:16. Blanks were introduced at the same rate; the blank was a massive barren quartz vein found some 8 km from the Zulu Prospect.

A number of core samples from the earlier 2011 drilling campaign have been re-assayed using the method described above. Initially, the samples of 2011 had only been dissolved using a multi-acid digestion, which is a semi-quantitative technique and not adequate to dissolve certain minerals as for example spodumene and tantalite.

Estimation Methodology:

After conducting a variography analysis of the drill hole data, no suitable variogram could be generated, due to the spatiality of the ore and the erratic grades. For this maiden resource model, Inverse Power of Distance ("IPD") estimation method was utilised to generate the model. The extended drilling plan will provide more sample points so that another variography analysis will be conducted in the future.

 

Resource Classification:

As the estimation method at this time was IPD, and the erratic nature of the ore, the Company has classified this resource as an inferred resource. With the extended drilling programme, and infill drilling in certain targeted areas, the resource classification can be upgraded when justified.

 

Cut-Off Grades:

For this maiden inferred resource estimate a cut-off grade of 0.5% Li₂O was applied. The company believes that a lower cut-off of 0.25% Li₂O could be justified, provided the ongoing metallurgical test work delivers positive results and the recoveries of the various lithium bearing minerals are satisfactory. At a lower cut-off of 0.25% Li₂O, the inferred resource estimate tonnage would increase to +28 million tonnes at an average grade of 0.85% Li₂O and 48 ppm Ta₂O₅.

 

Mining and Metallurgy:

The company intends to develop the Zulu Project as an open pit mine, initially. A metallurgical study on two bulk samples (petalite pegmatite and spodumene pegmatite) is currently carried out by German based Dorfner-Anzaplan. The results are expected shortly.

 

More Information:

 

Lithium

Lithium (Li) is recovered from minerals such as spodumene, petalite and lepidolite as well as lithium-rich brines and is used in a range of products such as ceramics, glass, batteries and pharmaceuticals. Lithium use has expanded significantly in recent years due to the increasing use in rechargeable batteries in portable electronic devices and batteries and electrical motors for hybrid and electrical cars.

 

Lithium grades are normally presented in percentages or parts per million (ppm). Grades of deposits are also expressed as lithium compounds in percentages, for example as a percent lithium oxide (Li₂O) content or percent lithium carbonate (Li₂CO₃) content.

Lithium carbonate equivalent ("LCE") is the industry standard terminology for, and is equivalent to, Li₂CO₃. Use of LCE is to provide data comparable with industry reports and is the total equivalent amount of lithium carbonate, assuming the lithium content in the deposit is converted to lithium carbonate, using the conversion rates in the table included below to get an equivalent Li₂CO₃ value in percent. Use of LCE assumes 100% recovery and no process losses in the extraction of Li₂CO₃ from the deposit.

Lithium resources and reserves are usually presented in tonnes of LCE or Li. The standard conversion factors are set out in the table below:

 

Table 4: Conversion Factors for Lithium Compounds and Minerals

Convert from		Convert to Li	Convert to Li2O	Convert to Li2CO3
Lithium	Li	1.000	2.153	5.323
Lithium Oxide	Li2O	0.464	1.000	2.473
Lithium Carbonate	Li2CO3	0.188	0.404	1.000

 

 

The current pricing of Li is set out below (Source: www.deutsche-rohstoffagentur.de):

(i)         min. 99-99.5% Li₂CO₃, large contracts, USA: US$ 13,000/t

(ii)        Spodumene concentrate, 7.5% Li₂O, CIF USA: US$ 900/t

(iii)       Petalite concentrate, 4.2% Li₂O, FOB Durban: US$ 215/t

 

Typical Li content is set out below:

 

(i)         Spodumene: 8.03% Li₂O (theoretical), usually it carries 1.5 to 7.0% Li₂O

(ii)        Petalite: 4.88% Li₂O (theoretical), usually it carries 3.0 to 4.7% Li₂O

(iii)       Lepidolite: 7.70% Li₂O (theoretical), usually it carries 3.0 to 4.0% Li₂O

(iv)       Holmquistite: 3.98% Li₂O (theoretical), usually it carries 2.5 to 3.5% Li₂O

 

Tantalum

The primary source of tantalum is from minerals such as tantalite, columbite, wodginite and microlite contained in pegmatite ore bodies. The largest deposits are located in Australia, Brazil and Africa. Tantalum's major use is in the production of electronic components, especially for capacitors, with additional use in components for chemical plants, nuclear power plants, airplanes and missiles. It is also used as a substitute for platinum.

 

The tantalum market is niche in size with around 1,300 tonnes required each year. However, the market is rapidly growing due to capacitor use in wireless and handheld devices.

 

 

Glossary of Technical Terms:

"Albite"	is a sodium rich feldspar
"Albitite"	is a rock consisting almost entirely of albite and quartz. It can be classed as an alkali-feldspar-granite, however it is usually a high to medium-temperature metasomatic rock formed by the sodic alteration of various rocks
"Amphibole"	a group term for various rock forming silicates with the general chemical formula Ca-Mg-Fe-Al-OH-Si-O
"Chlorite"	a group term for various rock forming silicates (Mg,Fe)6(Si,Al)4O10(OH)8
"Chlorite facies"	metamorphism under certain pressures and temperatures that lead to the formation of the mineral chlorite
"Columbite"	a black mineral group that is an ore of niobium and tantalum, [(Fe, Mn)Nb2O6],
"Epidosite"	a highly altered epidote and quartz bearing rock
"felsic"	refers to igneous rocks that are relatively rich in elements that form feldspar and quartz
"Indicated Resource"	are economic mineral occurrences that have been sampled (from locations such as outcrops, trenches, pits and drill holes) to a point where an estimate has been made, at a reasonable level of confidence, of their contained metal, grade, tonnage, shape, densities, physical characteristics.
"Inferred Resource"	that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and sampling and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that may be limited or of uncertain quality and reliability
"gneiss/gneissic"	a foliated rock formed by regional metamorphism, in which bands or lenticles of granular minerals alternate with bands or lenticles in which minerals having flaky or elongate prismatic habits predominate. Generally, less than 50% of the minerals show preferred parallel orientation.
"Holmquistite"	is a lithium rich amphibole (Li2Mg3Al2(Si8O22)(OH)2)
"K-feldspar"	is a general term for potassium bearing feldspars KAlSi3O8, a common rock forming mineral
"Lepidolite"	is the mineral name for lithium bearing mica KLi2Al(Si4O10)(F,OH)2  an important ore of lithium
"Li2O"	chemical formula of dilithium oxide
"Lithium Carbonate Equivalent (LCE)"	is the industry standard terminology for, and is equivalent to, Li2CO3
"mafic"	pertaining to or composed dominantly of the ferromagnesian rock-forming silicates; said of some igneous rocks and their constituent minerals.
"Measured mineral resource"	that part of a mineral resource for which quantity, grade or quality, densities, shape, and physical characteristics are so well established that they can be estimated with confidence sufficient to allow the appropriate application of technical and economic parameters, to support production planning and evaluation of the economic viability of the deposit. The estimate is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes that are spaced closely enough to confirm both geological and grade continuity
"Metamorphism"	the mineralogical, chemical, and structural adjustment of solid rocks to physical and chemical conditions that have generally been imposed at depth below the surface zones of weathering and cementation, and that differ from the conditions under which the rocks in question originated.
"Metasomatism"	the chemical alteration of a rock by hydrothermal and other fluids. It is the replacement of one rock by another of different mineralogical and chemical composition. The minerals which compose the rocks are dissolved and new mineral formations are deposited in their place. Dissolution and deposition occur simultaneously and the rock remains solid.
"Mica"	is a general term for a group of sheet silicate minerals, it includes several closely related minerals having nearly perfect basal cleavage, KAl2(Si3Al)O10(OH,F)2; micas are common rock forming minerals.
"Microlite"	is a pale-yellow, reddish-brown, or black mineral composed of sodium calcium tantalum oxide with a small amount of fluorine (Na,Ca)2Ta2O6(O,OH,F); locally a tantalum ore.
"Mineral resource"	concentration or occurrence of diamonds, natural solid inorganic material or natural fossilized organic material including base and precious metals, coal, and industrial minerals in or on the Earth's crust in such form and quantity and of such a grade or quality that it has reasonable prospects for economic extraction. The location, quantity, grade, geological characteristics and continuity of a mineral resource are known, estimated or interpreted from specific geological evidence and knowledge.
"Mn"	is the symbol for the chemical element manganese
"Pegmatite"	an exceptionally coarse-grained igneous rock, with interlocking crystals, usually found as irregular dikes, lenses, or veins, esp. at the margins of granitic intrusions
"Petalite"	the mineral name for lithium aluminium silicate LiAl(Si4O10) an important ore of lithium.
"Plagioclase"	a group term for sodium to calcium dominant feldspars (Na,Ca)(Al,Si)4O8, a common rock forming mineral.
"ppm"	means parts per million
"Quartz"	one of the most common rock forming minerals with the chemical composition SiO2 (silicon dioxide)
"SAMREC"	is the South African Code for the Reporting of Mineral Resources and Mineral Reserves
"schist"	a strongly foliated crystalline rock, formed by dynamic metamorphism, that can be readily split into thin flakes or slabs due to the well-developed parallelism of more than 50% of the minerals present, particularly those of lamellar or elongate prismatic habit, e.g., mica and amphibole.
"serpentinite"	a rock consisting almost wholly of serpentine-group minerals, e.g., antigorite and chrysotile or lizardite, derived from the alteration of ferromagnesian silicate minerals, such as olivine and pyroxene. Accessory chlorite, talc, and magnetite may be present.
"Spodumene"	the mineral name for lithium aluminium silicate LiAlSi2O6 an important ore of lithium.
"Ta2O5"	chemical formula of ditantalum pentoxide
"Tantalum pentoxide"	is the inorganic compound with the formula Ta2O5,
"Tantalite"	a mostly dark grey to black mineral, manganese bearing varieties are called manganotantalite or tantalite-(Mn) MnTa2O6; a major tantalum ore.
"Wodginite"	is a manganese, tin, tantalum oxide mineral with formula Mn(Sn, Ta)Ta2O8, locally used as a tantalum ore

 

Competent Persons Statement:

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

 

Wolfgang Hampel, Exploration Manager of Premier African Minerals Limited has reviewed and approved this release to the extent that reference is made to the Zulu tenements. Mr Hampel has 26 years' 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.

 

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.

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

Enquiries:

Fuad Sillem	Premier African Minerals Limited	Tel: +44 (0)7734 922074
Michael Cornish / Roland Cornish	Beaumont Cornish Limited (Nominated Adviser)	Tel: +44 (0) 207 628 3396
Jerry Keen/Edward Mansfield	Shore Capital Stockbrokers Limited	Tel: +44 (0) 207 408 4090
Jon Belliss	Beaufort Securities Limited	Tel: +44 (0) 20 7382 8300
Charles Goodwin/ Harriet Jackson	Yellow Jersey PR Limited	Tel: +44 (0) 7747 788221

 

Notes to Editors:

Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused in Southern and Western Africa with production started at its flagship RHA project in Zimbabwe.

The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, gold, lithium and tantalum in Zimbabwe and Benin, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company recently acquired a 52% controlling stake in Mozambique-based TCT Industrias Florestais Limitada, which owns a substantial limestone deposit and forestry business located on rail in the Sofala Province of Mozambique. In addition, the Company holds 2 million shares in Circum Minerals Limited ("Circum"), the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset. At present those shares are valued at US$4 million based on the latest price at which Circum has accepted subscriptions. Premier also has an interest in Casa Mining Limited, a privately-owned exploration company that has a 71.25% interest in the 1.2 million ounce inferred resource Akyanga gold deposit in the DRC.

ENDS