Mozambique joins list of potential rare earth suppliers in Africa
Premier African Minerals releases results from gold sampling in Mozambique
4:32 CAT | 30 Nov 2020
File photo: For illustration purposes only.
Premier African Minerals Ltd (LON:PREM) has returned assay results from recent sampling at its newly acquired Mozambique tenement.
The best grade returned was 23.7 grams per tonne gold, with several samples carrying grades of between 1.11 grams and 1.72 grams.
“This remains an early-stage exploration and no resource conclusions may be drawn at this time,” said Premier African’s chief executive George Roach in a statement.
“The tenement area remains small, but applications are in process to expand the area on anticipated strike. The detection of gold in many samples taken and the specific location of the higher-grade samples is encouraging and supports our plans to expand exploration in this jurisdiction. Worth noting are the elevated grades of silver in all samples and the potential commercial significance of this in any future mine development,” he added.
Meanwhile. Premier African has proceeded with other prospecting applications in other areas in the Nampula province of Mozambique where active artisanal mining is taking place.
Premier African Min: Positive Gold Assay Results Ligonha Gold Project
RNS Number : 8430G
Premier African Minerals Limited
30 November 2020
Premier African Minerals Limited (“Premier” or the “Company”) is pleased to report assay results from recent sampling pursuant to a site visit and preliminary geological review of the recently acquired Mozambique tenement, as set out in our RNS of 28 July 2020 and 1 September 2020.
Highlights
- Best grade of 23.7 g/t gold in Sample BE003711 (see Table 1 below), a quartz vein sample from an artisanal mining pit
- Several alluvial samples carry grades between 1.11g/t gold (Sample ID: BE003722) and 1.72 g/t gold (Sample ID: BE003728)
George Roach, Chief Executive of Premier commented, “This remains an early stage exploration and no resource conclusions may be drawn at this time. The tenement area remains small, but applications are in process to expand the area on anticipated strike. The detection of gold in many samples taken and the specific location of the higher-grade samples is encouraging and supports our plans to expand exploration in this jurisdiction. Worth noting are the elevated grades of silver in all samples and the potential commercial significance of this in any future mine development.
At the same time, Premier has proceeded with other prospecting applications in other areas in the Nampula province of Mozambique where active artisanal mining is taking place and is evaluating further similar areas of activity remote from this existing tenement but in the same administrative district of Zambezi Province. There is good reason to expect that Mozambique is likely to be one of the gold exploration districts Premier is expanding into as we mitigate historic country risk.
I am conscious that shareholders anticipate further updates and developments, and these will be forthcoming in the near future”.
Geological setting and Assay Conclusion
Premier’s Mozambique tenement was acquired in June 2020 and comprises a 100-hectare block located within the Alto Ligonha Pegmatite Province of Mozambique, which is largely located in the NNE – SSW trending Namama Thrust Belt which extends from Mocuba in the southwest to approximately 100km northeast of Alto Molocue in the northeast in the Zambézia Province of northern Mozambique.
Artisanal workings were identified within the project area and the existing artisanal miners exploit narrow auriferous quartz veins with visible gold in a number of E-W trending pits. Host rock is mainly a banded biotite gneiss. Other miners extract small gold particles from eluvial sediments above primary, i.e. bedrock, mineralization, or, from alluvial, i.e. riverbed, sediments.
The limited analytical data to date point to free gold bearing quartz veins with small amounts of sulfides such as pyrite, chalcopyrite and arsenopyrite. All samples, including the alluvial and eluvial samples, contain elevated grades of silver, ranging from 8g/t to 45 g/t silver. No other elements of economic significance have been detected in these initial assay results.
About Premier African Minerals
Premier African Minerals Limited (AIM: PREM) is a multi-commodity mining and natural resource development company focused on Southern Africa with its RHA Tungsten and Zulu Lithium projects in Zimbabwe.
The Company has a diverse portfolio of projects, which include tungsten, rare earth elements, lithium and tantalum in Zimbabwe and lithium and gold in Mozambique, encompassing brownfield projects with near-term production potential to grass-roots exploration. The Company holds 5,010,333 shares in Circum Minerals Limited, the owners of the Danakil Potash Project in Ethiopia, which has the potential to be a world class asset.
In addition, the Company holds a 19% interest in MN Holdings Limited, the operator of the Otjozondu Manganese Mining Project in Namibia.
Source: Proactive Investors /Investe Gate
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