LONDON (ShareCast) - 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

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