Marula Mining Plc - Independent Consultants Appointed to Commence Exploration at the Nyorinyori Graphite Project in Tanzania

 

 

 Marula Mining PLC

 

 (“Marula’’ or the “Company”)

 

8 August 2023

 

 

Independent Consultants Appointed to Commence Exploration at the Nyorinyori Graphite Project in Tanzania

Marula Mining (AQSE: MARU), an African focused mining and development company, is pleased to announce that it has appointed exploration and mining service company Geofi­elds Tanzania Limited (“Geofields”) as its independent geological consultants to commence exploration work at the Nyorinyori Graphite Project (“Nyorinyori" or the “Project”), in which the Company has a 75% commercial interest, and which is located in the Simanjiro District, in the Manyara Region of Tanzania.

The appointment of Geofields follows the visits in Q2 2023 by representatives of the Company to the 10 granted graphite mining licenses during which time high-grade graphite mineralisation and the presence of jumbo graphite flakes were observed on the granted mining licenses (announced on 4 April 2023).

 

Highlights:

• Experienced Tanzanian geological and mining consultancy group Geofields engaged as the Company’s independent consultants to commence an initial Phase 1 Program of exploration work
• Geofields will commence work in August 2023, having recently completed exploration work for the Company at the Kinusi Copper Mine and at the Bagamoyo Graphite Project in Tanzania
• The Phase 1 Program of exploration at Nyorinyori will focus initially on the high-grade and jumbo flake graphite mineralisation that has been observed with visual estimates of +90% graphite content in shallow broad graphite veins exposed at shallow depths from small-scale mining
• Geofields exploration work will also focus on the graphite mineralisation that was seen at surface and extending over an initial strike length of over two kilometres
• The work to be completed by Geofields will include mapping, sampling, trenching and establishment of a comprehensive geological database across the 10 granted mining licenses
• Geofields work will also extend across a number of new granted mining licenses that the Company has been in negotiations for with Takela and other local Tanzanian companies (as announced on 4 April 2023), on potentially acquiring and increasing the scope of the Project further
• Geofields are scheduled to complete the Phase 1 Program in September 2023 with samples from the program to be sent for analyses in Tanzania with initial results expected in October 2023
• Previous samples from Nyorinyori taken by the Company in Q2 2023 are with SGS Tanzania with total graphite content, grade and flake size results expected to be received in August 2023
• Marula’s Board and management team and representatives from Q Global Commodities will be on site with Takela and Geofields in mid-August 2023 to complete further technical and geological assessments on site, review a number of new prospects and to review Geofields’ progress and activities

 

Jason Brewer, Marula Mining PLC CEO said:

"With Geofields having recently completed the work at the Kinusi Copper Mine, we were very keen to get them on site at the Nyorinyori Graphite Project as quickly as possible.

“Our initial impression of the potential at Nyorinyori was very positive and to personally be able to see the high-grade graphite mineralisation and hold multiple samples with observed jumbo graphite flakes revealed to me immediately the potential that this project potentially holds.

“Geo­fields have very quickly demonstrated what a capable and experienced geological team they have and who we are able to work with very effectively. We look forward to seeing Geofields on site at Nyorinyori soon and commencing the Phase I Program of exploration activities.

"I look forward to updating our shareholders and stakeholders alike, on our progress at Nyorinyori.”

About the Licences

Takela is the 100% legal holder of 10 Primary Mining Licences located in the Nyorinyori area in Simanjiro District, in the Manyara Region of Tanzania.

The Licences, extend over a combined area of approx. 86 hectares and are valid for a 7-year period to 2 February 2030, allowing the holder to prospect and mine for graphite.

The Directors of Marula are responsible for the contents of this announcement. This announcement contains inside information for the purposes of UK Market Abuse Regulation.

 

About Marula Mining

 

Marula Mining (AQSE: MARU) is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa; Blesberg Lithium and Tantalum Mine in South Africa, Nkombwa Hill Project in Zambia and Kinusi Copper mine, Bagamoyo Graphite Project and Nyorinyori Graphite Project in Tanzania. As we advance operations at these battery metals focused projects, Marula will continue to build and expand its interests in other high-quality projects in Africa.

 

Marula’s strategy is to identify and invest in advanced and high-value mining projects throughout East, Central and Southern Africa that the Directors believe would deliver returns for its shareholders. The Board and management team aims to establish Marula as a socially and environmentally responsible, sustainable, and profitable producer of critical metals and commodities that are of increasingly strategic importance to modern technologies and the global economy.

 

Marula’s shares are traded on the AQUIS Stock Exchange (AQSE), Marula is exploring opportunities to admit its shares to trading on AIM, the market operated by the London Stock Exchange Group plc, Kenya’s Nairobi Securities Exchange and the Johannesburg Stock Exchange.

 

For enquiries contact:

 

Marula Mining PLC Jason Brewer, Chief Executive Officer   Faith Kinyanjui Mumbi Investor Relations	Email : jason@marulamining.com   Email : info@marulamining.com
AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti	+44 (0)20 7213 0880
Broker Peterhouse Capital Limited, Charles Goodfellow / Duncan Vasey	+44 (0)20 7469 0930
Financial PR and IR BlytheRay Tim Blythe / Megan Ray / Said Izagaren	+44 (0)20 7138 3204

 

 

 

Caution:

 

Certain statements in this announcement, are, or may be deemed to be, forward looking statements. Forward looking statements are identified by their use of terms and phrases such as ''believe'', ''could'', "should" ''envisage'', ''estimate'', ''intend'', ''may'', ''plan'', ''potentially'', "expect", ''will'' or the negative of those, variations or comparable expressions, including references to assumptions. These forward-looking statements are not based on historical facts but rather on the Directors' current expectations and assumptions regarding the Company's future growth, results of operations, performance, future capital and other expenditures (including the amount, nature and sources of funding thereof), competitive advantages, business prospects and opportunities. Such forward looking statements reflect the Directors' current beliefs and assumptions and are based on information currently available to the Directors.