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29 Jan 2013 07:00
PREMIER AFRICAN MINERALS LTD - Multi-Commodity Southern Togo Project Permits RenewedPREMIER AFRICAN MINERALS LTD - Multi-Commodity Southern Togo Project Permits Renewed
PR Newswire
London, January 28
29 January 2013
Premier African Minerals Limited (`Premier' or `the Company')
Multi-Commodity Southern Togo Project Permits RenewedPremier African Minerals Limited, the AIM quoted multi-commodity naturalresource company with mineral projects located in Western and Southern Africa,is pleased to confirm the two year renewal of the Company's three explorationpermits (`Exploration Permits') for the multi-commodity Southern Togo Project(`the Project'), covering 173.99 sq. km located east-north-east of the SociétéNouvelle des Phosphates du Togo (`SNPT') phosphate open pit operations atSNPT's Dagbati mine.
Highlights:
* The Project comprises three contiguous Exploration Permits highly prospective for commodities including phosphates, clays, rare earths and uranium * Exploration Permits align along strike of SNPT phosphate mine that currently produces >1Mt per annum of phosphate rock * Geological formations similar to those of the adjacent SNPT Dagbati mine - Premier's exploration programme will be designed to test for strike continuation of the SNPT mineralisation into Premier's Exploration Permits * Initial exploration target of 75Mt of phosphate rock at 32% P205 * Large clay deposits lie stratigraphically below the phosphate horizons with potential in-situ non-compliant Exploration Target of between 108Mt and 254 Mt. Exploration work targeted to better understand and prove up resource potential * Deposits are geologically and structurally simple and potentially amenable to low cost open cast mining * Excellent access to local infrastructure with rail, power, road and port facilities. Located approximately 25km northeast of Lomé * Actively evaluating all feasible opportunities to advance the Project * The Project enhances the Company's already extensive portfolio of mineral assets in Southern and West Africa, which are in various stages of developmentGeorge Roach, Chief Executive Officer of Premier, commented: "The prospectivityof this region is underlined by recent developments in regard to the extensionof the neighbouring state owned mining operations. Our permit area, whichborders the state property, is highly prospective for phosphates and a varietyof Attapulgite clays used in off-shore hydrocarbon development as well as anumber of other common applications. The geology is relatively simple, and thedeposits are shallow-lying making them amenable to low cost productiontechniques. Furthermore the proximity to tide water and presence of rail andpower across the property enhances the Project's development prospects. This isa significant asset in our multi-commodity portfolio. Since Admission we havebeen reviewing our plans and we look forward to releasing details of ourResource development plans for this area in the near future."
Further information on the Southern Togo Permits
The Project is geologically highly prospective for phosphates and clays(attapulgite and bentonite).
Two mines are currently in operation in close proximity to the Project; SNPTconduct major open pit mining operations of phosphates; and West African CementS.A. operate a limestone quarry and clinker facility. CIMTOGO S.A, is also dueto commence limestone quarrying in the vicinity shortly.
Phosphates
The Project is geologically prospective for phosphates as the ExplorationPermits align 173.99 km along the strike of the current SNPT mining operationsand are underlain by the same geological formations within which the SNPT orebodies occur. The morphology of any potential phosphate deposit in theExploration Permits is likely to be simple and amenable to low cost open castmining.
Clays (Attapulgite and Bentonite)
Clay deposits in Southern Togo consist of both attapulgite and bentonite and,like the phosphates, are
Geologically and structurally simple and potentially amenable to low cost opencast mining. The clay deposits lie stratigraphically below the phosphatehorizons and are very large in comparison to global deposits. The Boardbelieves that the deposits could potentially have an in-situ non-compliantExploration Target of between 108Mt and 254Mt. In 2008 the USA produced 3.9Mtamounting to 67% of total world production. Initial test work indicates thatthe quality of the clays appear to be of a suitable standard for a diverserange of uses.
A preliminary economic assessment can be undertaken under National Instrument43-101 on an Inferred Mineral Resource once the clay characteristics have beenestablished.
Qualified Person:
The technical information contained in this announcement has been reviewed byBruce Cumming, Technical Director, Premier African Minerals Limited. Mr Cummingholds a Bachelor of Science (Honours) in Geology from the University of CapeTown and is accredited to the South African Counsel for Natural ScientificProfessionals (SACNASP). Mr Cumming has sufficient geological experience (over35 years) to qualify as a Qualified Person for the purposes of thisannouncement and has reviewed the text of this announcement and is satisfiedwith the accuracy and precision of this release by Premier African MineralsLimited.
**ENDS** For further information please visit www.premierafricanminerals.com or contactthe following:Pamela Hueston Premier African Minerals Tel: +44 (0) 755 778 3855 Limited Tony Rawlinson Cairn Financial Advisers LLP Tel: +44 (0) 207 148 7900 (Nominated Adviser) Jerry Keen Shore Capital Stockbrokers Tel: +44 (0) 207 408 4090 Limited Edward Mansfield Shore Capital Stockbrokers Tel: +44 (0) 207 408 4090 Limited Felicity Edwards St Brides Media & Finance Ltd Tel: +44 (0) 20 7236 1177
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