• Mon. Jul 22nd, 2024

Premier African Minerals gets positive assay results


Jan 10, 2024

By ETimes

Premier African Minerals Limited is on the cusp of a transformative chapter with the Zulu Lithium and Tantalum Project, showcasing promising developments through recent assay results.

In a recent update, chief executive officer (CEO) George Roach conveyed enthusiasm about findings from surface trenches and drill holes, particularly focusing on the Southeast pegmatite. Positioned adjacent to ongoing mining operations, this pegmatite represents a distinct and potentially lucrative asset for the company.

The geological logging has unveiled a significant detail: the lithium mineralization in this specific pegmatite is predominantly spodumene.

Roach elucidated the economic implications, highlighting that a 1% Li2O grade, when spodumene is the exclusive mineralization, translates to an impressive 12.5% spodumene content in the ore body.

Moreover, internal laboratory tests at Zulu consistently affirm the project’s capability to produce SC6 at acceptable grades, even with a low spodumene content. This raises the prospect of a reduced economic cut-off grade, potentially as low as 0.37% Li2O.

In tandem with these positive geological revelations, Premier is making substantial progress on the infrastructure front. Civil works related to the thickener are nearing completion, with the arrival of materials marking a significant milestone.

The installation of a new mill, anticipated to conclude by late January 2024, is a critical step in the project’s timeline. This progress sets the stage for operations to recommence in February, aligning with the company’s ambitious target of revenue-generating production by late February 2024.

The well-developed mining operations are anticipated to encounter no hindrances in the delivery of ore to the Run of Mine pad in the future.

While the current mining phase incurs notable cash costs, Premier foresees a shift in the cost dynamics as operational efficiencies reduce stripping ratios, ultimately outweighing these initial expenses.

Preliminary figures from the company’s internal budget, though pending independent verification, present an average mine gate cost of approximately US$800 per ton for SC6 in the initial 12 months. This estimate does not account for potential revenues from the sale of technical grade spodumene, lepidolite, mica-rich concentrates, or future tantalum production.

Premier African Minerals stands at the forefront of a promising venture, with encouraging geological results and significant progress in infrastructure development. The company’s strategic approach and ambitious timeline position it as a key player in the dynamic lithium and tantalum market.

Premier African Minerals 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.

Premier African Minerals has accepted a share offer by Vortex Limited for the exchange of Premier’s entire 4,8% interest in Circum Minerals Limited, 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.

By ETimes

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