AIM-listed junior miner, Premier African Minerals says it has discovered more lithium deposits at its Zulu Mine in south central Zimbabwe.
The Zulu lithium project near Fort Rixon, has an estimated 20.1 million tonnes resource base grading 1.06 percent lithium oxide.
Premier, which also owns 49 percent of RHA Tungsten mine in Kamativi and has three other mining projects in the country, has started drilling at Zulu mine to expand the main mining zone.
“The current drilling programme has provided in-fill and expansion of the Main Zone, but more importantly, has identified a new zone with potential to exceed the already substantial resources and exploration target of the Main Zone,” said Premier chief executive George Roach.
Premier is planning to list Zulu mine independently.
“Premier will also progress its review of strategic options for the development of Zulu and the options for unlocking value for the company and its shareholders, including possible strategic partnerships and / or the possibility of a separate listing for Zulu Lithium,” said Roach.
Metallurgical tests carried out by Premier show that the mine can produce commercial grade lithium and tantalum.
Zimbabwe is already Africa’s largest lithium producer and fifth largest in the world after producing 900 tonnes in 2015. – The Source