Premier African Minerals’ latest assay results from drilling at Zulu in Zimbabwe were encouraging, especially the significant assay results from outside of the current mine plan said broker ShoreCap.
A total of 58m was assayed from surface trenches and the best results returned 6.7m grading 1.0% Li2O, 7.5m grading 1.8% Li2O and 5.0m grading 1.8% Li2O.
Around 53m was also assayed from drill holes with the best results returning 32.4m grading 1.08% Li2O, 8.4m grading at 1.5% Li2O and 5.5m grading at 1.06% Li2O.
All the drill hole results were from the Southeast pegmatite, around 350m SE of the current pit operations.
ShoreCap also expects the current weakness in spodumene concentrate (6% Li2O) prices in China to reverse over the long term as increased global lithium demand is driven by production of electric vehicles.