Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) should publish a new mineral resource for its Zulu Lithium project shortly, says house broker Shore Capital.
Focus of the update will be tonnes of contained spodumene in the Main Zone area, with completion expected by the end of the current quarter.
Extensive X-ray diffraction analysis (XRD) has provided detailed information on crystallography and chemical composition revealing that more than 85% of lithium mineralisation is associated with spodumene and the remaining 15% with lepidolite.
According to ShoreCap, the fact that the dominant lithium-bearing mineral is spodumene is encouraging as it is the preferred mineral for the production of lithium concentrate (SC6).
Spodumene concentrate (6% Li2O) prices in China appear to have found a floor of US$1,000 per tonne (t) after recent highs of US$6,000/t and likewise lithium hydroxide prices currently at US$11,807/t from highs of US$74,282/t.
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