Australia

Premier African Minerals looks to re-boot after RHA sign-off

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What it owns

RHA

Tungsten deposit RHA is situated in an area of historic production, approximately 270km northwest of Bulawayo.

The project comprises 50 Mineral Claim Blocks, covering 1,800 hectares, consisting of 10 owned by Premier and 40 which are under option.

Small-scale surface and underground mining was conducted at the site between 1931 and 1979.

The deposit is approximately 800m in strike length and 300m wide.

Premier African recently announced a resource of 22.1mln tonnes at 2.45kg per tonne in both the underground and open-pit operations.

To date, Premier African Minerals has invested around US$18mln in the acquisition and development of the mine.

Zulu lithium project

Situated 80km from Bulawayo in Zimbabwe, Premier believes the project is potentially the largest undeveloped lithium-bearing pegmatite in Zimbabwe.

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Zulu comprises 14 mineral claims covering a surface area of 3.5 km2 which are prospective for lithium and tantalum mineralisation.

In June 2017, Premier announced a Maiden Mineral Inferred Resource Estimate on Zulu of 20.1 million tonnes grading 1.06% Li2O.

A scoping study in 2017 indicated a value of US$127mln for a 15-year open cast operation mining a concentrate of spodumene and petalite.

Circum

Premier African owns just over 5mln shares in the privately-owned natural resources group, which is developing its wholly-owned Danakil Potash project in the Danakil Depression in Northern Ethiopia.

The Danakil Project has the potential to be a world-class potash project says Premier, which said in August it would ask shareholders for approval to sell it stake.

MNH

MNH operates the producing Otjozundu manganese mine in Namibia.

Neil Herbert, its chairman, has joined the Premier board. He is also currently chairman of IronRidge Resources, Helium One and Siderian Resource Capital.

Otjozondu is currently exporting 5,000 tonnes lump ore per month at better than 35% manganese with production set to increase.

The mine also has an exploration target of 30-50mln tonnes grading at 23%-27% manganese.

In the year to June Otjozondu generated revenues of N$21mln (US$Read More – Source