Commodity: Lithium and Tantalum

 
Overview
Premier’s Zulu Lithium and Tantalum Project (“Zulu Project”) is located 80km from Bulawayo in Zimbabwe. The project is generally regarded as potentially the largest undeveloped lithium bearing pegmatite in Zimbabwe. Zulu comprises 14 mineral claims covering a surface area of 3.5 km2 which are prospective for lithium and tantalum mineralisation.

History
The Zulu Project was first pegged in 1955 and intensely explored until the early 1960s. Minor petalite production was reported for 1961 and 1962. The pegmatite bodies intruded along serpentine and sedimentary rocks over a strike length of several kilometers. The width varies between 10 and 25 meters. The bigger pegmatites to the north of the Machakwe River are rich in spodumene and lepidolite, the smaller pegmatites south of the Machakwe River are rich in petalite. The pegmatite bodies strike N20° and dip with 70° to 90° to the west. Parts of the pegmatite are quite rich in tantalite-Mn.
In 1958, O.J. Arnett of Rhodesian Selection Trust (RST) carried out a detailed investigation of the Zulu Project area in order to establish the extent of the lithium mineralization within the pegmatites.

Resources and Exploration
The Zulu Project has substantial resources. Following a successful 2,500 metres diamond drilling programme between September 2016 and February 2017, Premier published a Maiden SAMREC compliant Inferred Mineral Resource Estimate of 20.1 million tonnes grading 1.06% Li2O and 51 ppm Ta2O5 using a cut-off grade of 0.5% Li2O on the Main Zone. The Mineral Resource Estimate contains 526,000 tonnes of Lithium Carbonate Equivalent (“LCE”) and 1,025 tonnes of Tantalum Pentoxide. The Mineral Resource Estimate covers only 35% of Zulu’s known 3.5km surface strike length and the drilling continues to upgrade and expand this Mineral Resource Estimate as the deposit remains open at depth and along strike.  

Since the first phase of drilling, The Company commenced a new drilling programme focused on expanding and upgrading the resources in the Main Zone as well as delineating a resource for the New Zone which was discovered in August 2017 and lies to the south-east of the Main Zone. The New Zone has the potential to exceed the projected target already established in the Main Zone.

Since inception of the Zulu Project, in Premier has conducted several drilling programmes:

• 2016 6 scout diamond drill holes for a total of 2,312
• 2016-2017 43 exploration holes for a total of 5,809m

Based on the scope of work undertaken, no material technical risks or fatal flaws have been identified to date

• 2017 A Scoping study was completed

(From the above work a SAMREC compliant Inferred Resource was estimated – 20.1Mt @ 1.06% Li2O & 51.05ppm Ta2O5 at a 0.5% Li2O cut-off)

• 2021 Grant of an Exclusive Prospecting Order No. 1779 ("EPO") over an area that encompasses the Zulu Lithium Project covering an area of 20, 200 HA
• 2021-2022 Ongoing resource definition and extension drilling. 17.380 m drilled to date (quarter 3 2022)