RE: Prem18 Feb 2021 10:05
30 November 2020
Premier African Minerals Limited
Positive Gold Assay Results from Ligonha Gold Project
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".