Premier African Minerals discovers 'significant' tungsten mineralisation

AIM-listed multi-commodity natural resource company Premier African Minerals has discovered at least two previously unknown, well-mineralised quartz veins at its flagship RHA Tungsten project.

AIM-listed multi-commodity natural resource company Premier African Minerals has discovered at least two previously unknown, well-mineralised quartz veins at its flagship RHA Tungsten project.

The company reported that the project, which is located in the prospective Kamativi Tin Belt in Zimbabwe, had the potential to be developed into a "low capital and operating cost tungsten mine" in the near term.

The company plans to carry out further surface trenching and said sampling is scheduled to be undertaken in the first quarter of 2013 to confirm the surface location and other details.

George Roach, Chief Executive Officer of Premier African Minerals, said: "This update has revealed significant tungsten mineralisation in the form of very coarse wolframite crystals hosted by quartz veins identified from drillhole intersections, and highlights the exceptional prospectivity of our RHA tungsten project.

"It is now our intention to conduct low-cost surface trenching and sampling to confirm the extent of these newly identified quartz veins and define a maiden SAMREC compliant resource in H1 2013. In tandem with this, we are also completing a conceptual mine study, which will determine the most beneficial and cost-effective method of exploiting the known extent of the RHA deposit."

MF

Recommended

Which assets will benefit as the “jam tomorrow” bubble pops?
Investment strategy

Which assets will benefit as the “jam tomorrow” bubble pops?

With tech stocks, cryptocurrencies and many other “long duration” investments crashing hard, the “jam tomorrow” bubble looks to be bursting. John Step…
24 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022
Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022

Most Popular

Shareholder capitalism: why we must return power to listed companies’ ultimate owners
Investment strategy

Shareholder capitalism: why we must return power to listed companies’ ultimate owners

Under our system of shareholder capitalism it's not fund managers, it‘s the individual investors – the company's ultimate owners – who should be telli…
24 Jan 2022
Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022
Three innovative Asian stocks to buy now
Share tips

Three innovative Asian stocks to buy now

Professional investor Fay Ren of the Cerno Pacific Fund highlights three of her favourite Asian stocks to buy now
24 Jan 2022