Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining
For immediate release
21 November 2018
Premier African Minerals Limited
RHA Drilling Update
Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide an update on its drilling programme at the RHA Tungsten Mine ("RHA") in Zimbabwe in which Premier has a 49% interest and is the operator. The drill programme is inter alia intended to guide future development at RHA, in particular whether to continue underground operations through expansion of the existing vertical shaft or to develop a new decline, which when completed would support a significantly greater mining rate.
Highlights
· All drill holes targeting underground depth and strike extensions intersect mineralised zones.
· Potentially most significant intersection in RHADD37 of drill width 2.56m from 122.9m grading 7.11 kg/t indicating potential anticipated convergence of ore body lode structures.
· Multiple high-grade intersections in all drill holes targeting underground operation, including:
o Hole RHADD40 next to the north adit intersected multiple high-grade intersections including 26.73kg/t WO3 over 71cm from 145.81m, 6.01kg/t WO3 over 80cm from 165.94m and 26.03kg/t WO3 over 55cm from 171.98m
o Hole RHADD35 intersected 1.99kg/t WO3 over 265cm from 81.46m, including 9.54kg/t WO3 over 72cm from 81.46m
o RHADD37 intersected 7.11kg/t WO3 over 2.56m from 122.90m including 30.33 kg/t WO3 over 40cm from 123.18m
o Hole RHADD38 intersected 115.10kg/t WO3 over 12cm from 46.63m
The preliminary analytical results set out in this announcement from underground drilling at RHA have been returned from the Company's own on-site analysis using calibrated XRF and certified reference material. Check samples have been submitted to SGS South Africa and the results of this analysis will be released in due course.
George Roach, Premier's CEO, commented: "Most encouraging are the multiple high-grade intersections and the potential convergence of the ore bodies as we move southeast of the main mining areas. This drill programme has already confirmed forecast depth extensions below the current 870 level and the convergence and widening of the ore body would seem to support an increase in tonnage and development of a decline shaft system. RHA plant includes XRT upgrading and has a capacity of up to 50 tonne per hour of sized material through the sorter and is easily capable of accommodating increased ROM feed rates that could be achieved through development of a decline.
Whilst the nature of the ore body at RHA is "spotty" with big variances over short distances, the sheer number of high-grade intersections is most encouraging.
In summary, the preliminary internal assay results indicate multiple mineralised load structures with wolframite at commercial grades and visible copper mineralisation in the form of chalcopyrite co-existent in the same ore bodies as the wolframite.
The results continue to confirm that mineralisation is increasing in an easterly direction and it is likely that the pit may be extended at a time in the future if a decline shaft is constructed. Any significant extension to the open pit in an easterly direction will interfere with the existing vertical shaft."
Figure 1 - highly mineralised drill core of drill hole RHADD40 intersecting multiple intersections including 6.01kg/t of W03 from 165.94m to 166.74m To view the image click on the following link
https://www.premierafricanminerals.com/images/Fig1mineralisedcore.png
Figure 2 - highly mineralised drill core from drill hole RHADD40 intersecting multiple high-grade intersections including 26.03kg/t WO3 from 171.98m to 172.53m To view the image click on the following link https://www.premierafricanminerals.com/images/Fig2mineralisedcore.png
Drilling Programme
Premier commenced a diamond drilling programme at RHA in the beginning of September 2018. The drilling programme is designed to expand the underground declared resource base as well as assisting with a determination of the future mining of the open pit. To date 16 holes have been drilled totalling 2,551 metres. The Company now expects to complete the drilling programme by the end of November. Significant preliminary drilling results from the underground drilling programme (subject to confirmation by SGS South Africa) returned to date include:
Table 1 - Drilling intercepts
Hole ID |
From (m) |
To (m) |
Length (cm) |
WO₃ kg/t |
RHADD34 |
180.3 |
181.2 |
90 |
7.82 |
Includes |
95.85 |
96.14 |
29 |
15.97 |
Includes |
126.02 |
127.00 |
98 |
4.24 |
Includes |
169.21 |
169.86 |
65 |
4.70 |
Includes |
180.30 |
181.20 |
90 |
7.82 |
Includes |
211.22 |
213.08 |
186 |
2.09 |
RHADD35 |
81.46 |
84.11 |
265 |
1.99 |
Includes |
81.46 |
82.18 |
72 |
9.54 |
Includes |
48.10 |
48.54 |
44 |
3.52 |
Includes |
48.38 |
48.54 |
16 |
3.89 |
includes |
82.08 |
82.18 |
10 |
59.51 |
Includes |
83.94 |
84.11 |
17 |
1.99 |
Includes |
129.47 |
129.62 |
15 |
4.37 |
Includes |
131.15 |
131.61 |
46 |
7.60 |
RHADD36 |
104.29 |
105.13 |
84 |
9.78 |
RHADD36 |
118.62 |
118.91 |
29 |
9.13 |
RHADD36 |
134.26 |
134.62 |
36 |
4.73 |
RHADD36 |
157.10 |
157.52 |
42 |
19.16 |
RHADD36 |
173.94 |
174.06 |
12 |
32.15 |
RHADD36 |
176.81 |
176.94 |
13 |
2.13 |
RHADD36 |
195.50 |
195.66 |
16 |
1.01 |
RHADD37 |
122.90 |
125.46 |
256 |
7.11 |
Includes |
122.90 |
123.18 |
28 |
0.93 |
Includes |
123.18 |
123.58 |
40 |
30.32 |
Includes |
123.58 |
124.68 |
110 |
4.34 |
Includes |
162.73 |
163.25 |
52 |
6.42 |
RHADD38 |
46.63 |
46.75 |
12 |
115.10 |
RHADD40 |
145.81 |
146.52 |
71 |
26.73 |
Includes |
165.94 |
166.74 |
80 |
6.01 |
Includes |
171.98 |
172.53 |
55 |
26.03 |
Notes:
(i) Reported intervals are downhole widths, the true widths may be narrower.
(ii) RHA's on-site laboratory is not certified for analysis and these results should be considered preliminary in nature. Results from a certificated laboratory will be released as and when available
QA/QC
Sample preparation is done at site and sample assays and the analytical results set out in this announcement from surface drilling at RHA have been returned from the Company's own on-site analysis out using RHA's own XRF Every eighth sample analysed is a Certified Standard Reference Material ("CRM", GW-02 by Geostats, Australia) for tungsten. At least 20 per cent of all samples will be submitted to SGS, South Africa, for verification of mineralisation and grades. The Company would further expect that in the preparation of any future independent reserve / resource statement undertaken in compliance with a recognised standard, the independent authors of such a statement would not use preliminary assay results but would only use assay results reported by an appropriately certificated laboratory.
Qualified Person
Wolfgang Hampel, Senior Geologist with Premier African Minerals Limited, has reviewed and approved this release to the extent that reference is made to RHA. Wolfgang Hampel has 27 years' 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.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement. The person who arranged for the release of this announcement on behalf of the Company was George Roach, Director.
Enquiries:
Fuad Sillem |
Premier African Minerals Limited |
Tel: +44 (0)7734 922074 |
Michael Cornish / Roland Cornish |
Beaumont Cornish Limited (Nominated Adviser) |
Tel: +44 (0) 20 7628 3396 |
Jerry Keen/Edward Mansfield |
Shore Capital Stockbrokers Limited |
Tel: +44 (0) 20 7408 4090 |
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 project in Zimbabwe.
The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe, encompassing brownfield projects with near-term production potential to grass-roots exploration. In addition, the Company holds 5,010,333 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. Premier also has an interest in Arc Minerals that has a number of mineral assets in Europe and Africa.
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. Many 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.
ENDS
