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Premier African Min - Report On Recently Acquired Mozambique Tenement

RNS Number : 7271X
Premier African Minerals Limited
01 September 2020
 

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

For immediate release

 

1 September 2020

Premier African Minerals Limited

 

Report on site visit Recently Acquired Mozambique Tenement

Premier African Minerals Limited ("Premier" or the "Company") is pleased to provide this initial update on our recent  site visit and preliminary geological review of the Mozambique tenement recently secured,  as set out in the announcement of 28 July 2020.

Highlights:

·    Extensive current and historic artisanal gold mining activity in the immediate area and extending onto our tenement

·    Widespread evidence of eluvial, alluvial and primary gold mineralisation

·    Visible gold in multiple locations

George Roach, Chief Executive of Premier commented, "This is very early stage and our geological review conducted over three days in a relatively small area of 90 hectares is encouraging. Based on the artisanal activity, it would be reasonable to conclude that there is potential for some recoverable free gold.

Premier will examine available redundant equipment at RHA Tungsten (Pvt) Pvt ("RHA") that was removed from the RHA process plant at the time the XRT was installed and if suitable, this could be the basis for a small recovery plant to operate in conjunction with the exploration programme that will need to be undertaken. Samples have been collected and assay results will be published as soon as they are received.

I do note that there are potentially very good exploration tenements for gold in a number of other African jurisdictions and Premier will investigate these opportunities".

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 the potential prospecting area of the EPO at Zulu Lithium and Tantalum. Mr Hampel has 29 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.

Enquiries:

George Roach

Premier African Minerals Limited

Tel: +27 (0) 100 201 281

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 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. The Company holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.

 

In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.

 

Glossary of Technical Terms:

 

"alluvial"

A placer deposit formed by the action of running water, as in a stream channel or alluvial fan; also said of the valuable mineral, e.g., gold or diamond, associated with an alluvial placer.

 

"eluvial"

An incoherent mineral deposit, such as a placer, resulting from the decomposition or disintegration of rock in place. The material may have slumped or washed downslope for a short distance but has not been transported by a stream.

 

ENDS

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