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Premier African hails "significant tantalum grades" at Zulu project

The tantalum grades are even more significant when compared to Pilbara Minerals' bellwether Pilgangoora Lithium-Tantalum deposit in Australia

The grades from the Zimbabwean project have made the market sit up and take notice

Significant tantalum grades have been recorded from the current 2,500 metre drilling programme at Premier African Minerals Limited’s (LON:PREM) Zulu project in Zimbabwe.

Significantly elevated tantalum (Ta2O5) grades have been encountered in all holes sampled to date, with grades reported as high as 706 parts per million (ppm) Ta2O5 in bore hole ZDD 14.

Meanwhile, massive lithium enriched mineralised intersections in excess of 40 metres have been found in hole ZDD-05.

“From surface showings, our technical team anticipated one massive 5-6m intersection as well as a number of narrow intersections in the foot-wall,” Premier said.

The hole was intended to finish at a depth of 125 metres but drilling will continue until it passes through the ore body.

These intersections, as well as the fact that mineralisation remains open at depth, underlines Zulu's potential, the company said.

According to George Roach, Premier’s chief executive officer, the Zulu project has the potential to be one of the best hard rock lithium projects around today.

“The tantalum grades are even more significant when compared to the bellwether Pilgangoora Lithium-Tantalum deposit, which is currently being developed in Australia by Pilbara Minerals Ltd and has reported generally lower tantalum grades than the current Zulu results received to date in their latest reserve statement in August 2016,” Roach noted.

“Pilbara Minerals report that their proved and probable ore reserves are 69.8 million tonnes grading 1.26% Li2O (Spodumene) and 132ppm Ta2O5. We eagerly await the lithium assays from the South African labs," Roach said.

Shares in Premier African Minerals were up 2.5% at 0.410p.

Quick facts: Premier African Minerals Ltd

Price: 0.0725 GBX

Market: AIM
Market Cap: £9.11 m

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