(Alliance News) - Premier African Minerals Ltd on Monday said it as drilled a total of 18,000 metres to date at its Zulu lithium and tantalum project in Zimbabwe.
Assay results will be released in due course, it said.
A large-scale pilot plant employing ore-sorting technology could be in production in the first quarter of 2023, the British Virgin Islands-based minerals and metals project developer said. It would be "funded under an interest free pre-purchase payment," it explained. However, no funding has yet been arranged for the plant, Premier African noted.
"It is worth noting that the current demand for spodumene and the resultant prices, significantly de-risk this concept and support Premier's recent focus in terms of both our drilling programme at Zulu that is now exclusively targeting high-grade spodumene zones within the ore body at an indicated resource level, and on aspects of the definitive feasibility study in relation to implementation of the pilot plant," it added.
Spodumene is a mineral that contains lithium.
Premier African shares were 11% lower at 0.35 pence each in London on Monday morning.
By Tom Budszus; tombudszus@alliancenews.com
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Premier African Minerals (PREM)