Premier African Minerals Limited (LON:PREM) has revealed a maiden SAMREC compliant resource estimate for its wholly-owned Zulu Lithium and Tantalum project in Zimbabwe.
Under the SAMREC code Zulu contains 20.1 mln tonnes of ore grading 1.06 % lithium oxide and 51 parts per million tantalum pentoxide, using a cut-off grade of 0.5% Li2O.
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The nets out at 526,000 tonnes of Lithium Carbonate Equivalent (LCE) and 1,025 tonnes of tantalum pentoxide.
But there should be more to come. The resource estimate covers only 35% of Zulu's known 3.5 kilometre surface strike length and drilling continues to upgrade and expand knowledge of the mineralised area. In addition, the deposit remains open at depth and along strike.
“We are extremely pleased with this initial maiden resource estimate, which reinforces our belief that Zulu is a very significant new lithium deposit with all the hallmarks of a world-class lithium project,” said Premier African’s chief executive George Roach.
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“To date, the results have been very good and we are looking forward to delivering further additions to our resource inventory in the coming months and laying the foundations for a substantial, long-life strategic metal business."