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Highlights:
Significant Resource Increase: Premier African Minerals Ltd reported a 23% increase in lithium and a 17% rise in tantalum resources at its Zulu Lithium and Tantalum Project in Zimbabwe.
Improved Ore Quality: The updated resource estimates indicate enhanced quality in the lithium ore, further bolstering the project's viability.
JORC and SAMREC Compliance: The new resource estimates, which comply with JORC and SAMREC codes, highlight over 131,000 tonnes of lithium oxide and approximately 1.2 million kilograms of tantalum.
Premier African Minerals Ltd (LSE:PREM) has announced a significant boost to the mineral resources at its Zulu Lithium and Tantalum Project in Zimbabwe. The latest resource update reveals a 23% increase in lithium and a 17% rise in tantalum compared to previous estimates, showcasing the project's expanding potential.
The updated figures indicate that the deposit contains over 131,000 tonnes of lithium oxide (Li2O), which can be processed into approximately 2.2 million tonnes of spodumene concentrate, a lithium-rich material essential for battery production. Additionally, the deposit is estimated to hold around 1.2 million kilograms of tantalum, a rare metal used in various electronic applications. The new estimates have been prepared in accordance with the JORC and SAMREC codes, ensuring a high standard of reporting.
This update follows ongoing mining activities that have provided more accurate data regarding the quality of the ore being extracted. Continuous mining operations are anticipated to yield further updates as more of the deposit is analyzed.
CEO George Roach commented on the increases, attributing them to several factors, including mining development and grade control practices that have shown in situ grade estimates to be conservative compared to actual grades being mined. Adjustments to ore body density and the incorporation of additional data have also contributed to the updated mineral resource estimate, which reflects a depleted basis due to the mining conducted to date.
The Zulu Project is positioned as a key development within the expanding lithium market, particularly as demand for lithium surges due to its applications in electric vehicles and renewable energy storage solutions. This strategic positioning enhances the significance of the Zulu Lithium and Tantalum Project in the context of the growing global transition towards clean energy technologies.
