Significant Hwange tungsten find

Published: 06 May 2014

London Stock Exchange listed multi-commodity exploration and development firm, Premier African Minerals Limited has announced a significant increase in contained tungsten metal deposits at its flagship RHA project in the Kamativi Tin Belt in Hwange.

The RHA Project is located in an area of historic production, approximately 270km northwest of Bulawayo.

Resource tonnage at the RHA project, where Premier African Mineral is the operator and has a 49% stake, increased by 152% to 2,7 million tonnes at a composite grade of 8,7kg per tonne (kg/t) tungsten oxide (WO3).

The measured and indicated resource has been upped by a staggering 957% to 1,55mln tonnes at a composite grade of 8,0kg/t WO3, while there is 1,2m tonnes at a composite grade of 9,7kg/t WO3 in the inferred category.

Previous resource estimate totalled 1,24m tonnes, of which the inferred resource was put at 8,70kg/t and the indicated resource at 4,68kg/t.

Tungsten is a metallic element known as wolfram with a symbol of W and an atomic number of 74.

The new resource has further defined the ore body and has described a new mineralised Lode 1 system that is expected to significantly increase the open pit component of the mine plan.

In a posting carried on the company's website on Thursday, chief executive George Roach said the company is engaged in further discussions with off-take partners intended to reach a formal agreement and potential debt finance providers who have indicated a willingness to invest locally.

"This resource upgrade, coupled to completion of the mineralogical and metallurgical studies, deals with the main requirements identified in our mining study. We look forward with confidence to finalisation of the updated study and, subject to finance, the commencement of mine construction," he said.

Premier African Minerals operates the flagship RHA tungsten project covering tungsten, rare earth's, phosphates, nickel and gold and recently discovered two previously unknown, well-mineralised quartz veins.

The company is also carrying out other exploratory projects in the same area at Katete for Rare Earth Elements (REE), Tinde for fluorspar, Lubimbi for REE, Zulu, Gwanda for lithium and tantalum.

Shares in Premier African Minerals this week soared on the London Stock Exchange following the company's announcement of a significant increase in resources at the RHA tungsten project. Premier's shares are publicly
traded on AIM with the stock ticker of PREM.

Premier African Minerals was established to acquire and develop mineral properties across Africa, where it has projects located in Zimbabwe, Togo, Mali, exploring for a range of commodities including tungsten, phosphates, lithium, and tantalum, rare earths and clays.
- ZIm Mail