Premier African Minerals Limited (LON:PREM) has identified a potential new zone of lithium at its Zulu deposit in Zimbabwe, which it said may be larger than the current resource.
At present, Zulu has a resource of 20.1mln tonnes at a grade of 1.06% Li₂O (lithium dioxide) including 7 million tonnes grading 1.5% Li2O and an exploration target of 60-80mln tonnes.
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Some 14 holes have been drilled so far in this latest programme with significant visible lithium mineralisation zones intersected in all holes.
Three drilled in the new zone all indicated multiple intercepts down to a depth of around 110m.
Hole ZDD-37 was drilled 220m south-east of the Main Zone, ZDD-38 270m south-east and ZDD-39 400m to the south east.
George Roach, Premier's chief executive, said: "The current drilling programme has provided in-fill and expansion of the Main Zone, but more importantly, has identified a new zone with potential to exceed the already substantial resources and exploration target of the Main Zone."
Samples for assay have been submitted to SGS and results will be published on receipt, he said.
The visible lithium and potential new zone validated its decision to do more exploration before deciding to act on any of the offers it has received, he added.