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RHA Tungsten PEA and Mining Study
RHA Tungsten PEA and Mining Study.
About this update from Premier African Minerals Ltd.
[{"type":"text","content":"\n \n Premier African Minerals Limited / Ticker: PREM / Index: AIM / Sector: Mining \n\n28 August 2013\n\n Premier African Minerals Limited (`Premier' or `the Company') \n\nPositive Results from RHA Tungsten Preliminary Economic Assessment and Concept \n Mining Study \n\nPremier African Minerals Limited, the AIM quoted multi-commodity natural\nresource company with mineral projects located in Western and Southern Africa,\nis pleased to announce positive results from its recently completed Preliminary\nEconomic Assessment (`PEA') and Concept Mining Study (`the Mining Study') at\nits flagship RHA Tungsten Project (`RHA' or `the Project'), located in the\nprospective Kamativi Tin Belt in north-west Zimbabwe.\n\n * The Mining Study confirms the economic potential of Lode 2A to support a\n tungsten mining operation with an annual rate of ore production of 192,000\n tonnes over a six year Life of Mine\n \n * Open pit and underground mine key financials include:\n \n * \n + Low capital cost of US$13.5 million\n \n + Operating cost estimated at US$59.30 per Run of Mine (`ROM') tonne\n \n + Net Present Value undiscounted and before tax of US$118 million\n \n + Internal Rate of Return (`IRR') before tax of 316%\n \n * Study based on Initial SAMREC Compliant Resource:\n \n * \n + Inferred SAMREC code compliant resource of 1,093,000 tonnes at a\n diluted grade of 8.7 kg/t WO3\n \n + Indicated SAMREC code compliant resource of 147,000 tonnes at a diluted\n grade of 4.7 kg/t WO3\n \n * Premier plan to develop RHA with the aim of recommencing low cost, near\n term tungsten mining activities in 2014\n \n * Further exploration work planned to upgrade RHA mineral resource and\n establish limits of economic mineralisation to the SW, NE and in depth\n \nThe Mining Study was undertaken by independent mining consultants Royal\nHaskoning DHV (`RHDHV') (formally Turgis Mining Consultants), with the purpose\nof determining the economic viability for Premier to re-commence tungsten\nmining activities at RHA.\n\nThe successful delineation of an initial SAMREC compliant resource with a\nsignificant grade, combined with the robust results from the PEA and the Mining\nStudy, adds significant confidence to the economic viability of Premier's\nflagship RHA Tungsten Project in Zimbabwe and expectation of moving the Project\ninto production in the near-term.\n\n...