Premier African begins lithium drilling programme, hires David Lenigas

Premier African Minerals, a South and West Africa based multi-commodity mining development company, has begun a diamond drilling programme on its Zulu lithium project.

The programme, which Premier said will be on the largest undeveloped lithium-enriched resource in Zimbabwe, has two objectives: testing for strike and depth extensions of the 3.5km surface strike length and to establish a maiden resource.

The company will also be reviewing the strategic options for the development of the project and potential monetisation of value including possible strategic partnerships and/or the possibility of listing Zulu as a separate company.

Serial resources entrepreneur David Lenigas has been appointed as a consultant to review the Zulu project.

Chief executive George Roach said: "We are excited to finally commence the long-awaited drilling programme on Zulu. Zimbabwe is the world's fifth largest lithium producer and the only lithium producer on the African continent. We believe that Zulu has the potential to be a company making asset."

He added that he expected Lenigas, who was an early investor in lithium, will bring a wealth of accumulated knowledge and experience in the junior resources lithium sector, "and in particular to assist in identifying potential partners for Zulu Lithium".

Shares in Premier were up 29% to 0.484p by lunchtime on Wednesday where they were still well below the level at which the company agreed £3.5m of loan notes in mid-August or the heady heights above 1p earlier in 2016.