Aim-listed Premier African Minerals has noted progress and a funding strategy to be applied in the future development of both Aim-listed Premier African Minerals and the Zulu lithium and tantalum project.
The Zulu deposits are contained within an exclusive prospecting rights area greater than 200 km2 with major potential lithium, cesium and tantalum pegmatite prospects over and above the existing resource estimate already defined.
For Zulu, Premier has appointed independent consulting engineering firm Bara Consulting as principal engineers for the definitive feasibility study (DFS).
Geodrill Private has been appointed as the principal drilling contractor for the Zulu resource extensions and technical drilling for the DFS.
Premier has also appointed Hains Engineering Company (Hainstech) as the resource and technical consultant.
CJ Male has been appointed site exploration manager for Zulu.
“On November 20, 2017, we announced the results of Zulu scoping study that showed that there is an opportunity to develop a robust, low capital cost lithium mine with low operating costs. This, combined with strong prices for spodumene concentrates and sustained demand for high-grade petalite, supports our confidence that the next step for Zulu is the completion of a DFS.
“The projected timeline to complete the DFS at Zulu has been ratified by Bara and their appointment is immediate. Completion in this timeline will be subject to certain laboratories to be appointed completing additional test work and assays within the allotted time frames,” says Premier executive chairperson George Roach.
He notes that the appointment of Geodrill is effective immediately and mobilisation is starting.
Premier has sufficient funds to pay the mobilisation charges from existing resources and the full drilling camp is now expected to be completed and operational by the end of April, he says.
“Hainstech under the guidance of Don Hains completed a site visit to Zulu and reported on the deposit and its potential as announced on August 1, 2017. Hainstech will provide guidance in regard to both the resource development and the proposed flow sheet to follow from expanded test work to be conducted during the completion of the DFS.
“Premier has not concluded final financing details but expects to update shareholders at our next annual general meeting, which is expected to be announced in the coming weeks,” Roach says.