Premier African Minerals says new MRE supports potential for Zulu lithium project in Zimbabwe
London, UK
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February 12, 2024 07:52 AM Eastern Standard Time
Premier African Minerals Ltd (AIM:PREM, OTC:PRMMF) chief executive George Roach joined Proactive's Stephen Gunnion with details of a new mineral resources estimate (MRE) for the company's Zulu lithium and tantalum project in Zimbabwe.
Roach explained that the fresh estimate focuses solely on the zones currently being mined, excluding extension areas within their extensive prospecting order. He expressed optimism about the potential for future expansion and the ongoing exploration efforts aimed at both deepening and elevating the resource into the indicated category.
Currently, the project boasts significant reserves, with 170,000 tonnes of lithium and over 1,000 tonnes of tantalum, underscoring the standalone potential of the Zulu project and its lithium sulphate plant.
The company is concentrating on spodumene concentrate production, a valuable lithium source, with an estimated recovery of 1.7 to 1.8 million tonnes from its deposits. This volume significantly exceeds the plant's current processing capacity, suggesting a robust future for the project.
Looking ahead, Premier African Minerals is focused on producing high-grade spodumene to command premium pricing in the market. The project also harbors potential for extracting other valuable minerals like tantalum, high-purity quartz, and feldspar, laying the groundwork for a multifaceted expansion strategy.
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