Commodity: REEs

Located in the Province of Matabeleland North, close to the border with Zambia, the Katete Project comprises 25 Mineral Claim Blocks and is primarily prospective for Rare Earth Elements (REE). Premier has the right to explore and mine within the claims block.

The British Atomic Energy Commission identified carbonatite at the project site in the 1950s. Subsequently, Anglo-American conducted exploration in the 1960s. Historic exploration has identified prospective rare earth mineralisation. Target mineralisation includes Dysprosium, Cerium, Thorium, Lanthanum, Samarium and Yttrium.

Results from a trenching programme conducted by Premier in 2011 indicate that the highest total rare earth oxide (TREO) value was 14.6% (13.2% cerium and 0.6% lanthanum), with an average of 1.74% TREO. Premier completed a drilling programme of seven drill holes for a total of 1,187 metres. Initial assay results of four drill holes indicated that TREO distribution is consistent with depth and several samples displayed TREO contents > 3 per cent. over varying widths from 1 metre to 4 metres.  

Premier believes that the current price for REEs and the continued demand for REE oxides make Katete a particularly promising prospect. Premier is planning to complete initial mineralogical and metallurgical studies followed by the establishment of a code compliant Mineral Resource, justifying the commencement of a preliminary economic study.