Zulu lithium project resume
https://miningzimbabwe.com March 04, 2019
Zimbabwe-focused diversified miner, Premier African Minerals has announced plans to recommence drilling at its wholly-owned Zulu lithium and tantalum project.
Milestones: - In June 2017, Premier announced a Maiden Mineral Inferred Resource Estimate on Zulu of 20,1 million tonnes grading 1,06 percent Li2O. - In November 2017, the Company announced a Scoping Study demonstrating a robust project with a viable process route. - The group has now said that drilling is expected to commence as soon as mobilisation of funds is complete and seasonal rains permit. - Premier said the budget for the initial drilling programme (including mobilisation) is approximately US$400 000 and the company issued 212 413 793 new Ordinary Shares of nil par value at an issue price of 0,145 pence per share to KME as pre-payment for mobilisation and drilling. - Premier has since lodged an application for an Exclusive Prospecting Order for a 20 200-hectare exploration licence adjacent to the current licences which, once granted, could significantly enhance the project. - With the recently announced term sheet in regard to KME, drilling activities at Zulu are likely to proceed at a much-reduced overall cost.