Marula Mining reports progress on Tanzania graphite and copper projects

By Stuart Fieldhouse
6th April 2023

Related Topics: Marula Mining, Copper mining stocks, The mining sector, Aquis Stock Exchange

Marula Mining [AQSE:MARU] has reported progress with its Bagamoyo Graphite Project, with Geofields Tanzania completing the Phase 1 program of its exploration results. Marula is an African focused battery metals investment and exploration company and has interests in several high value mine projects in Africa.

The preliminary results have observed two graphite trends at the Mihuga and Saadan South graphite prospects within the project area, which extend over two kilometres.

World class graphite region in Tanzania

Marula Mining is exploring in a world class graphite province in south-eastern Tanzania, with granted mining licenses that are contiguous to an operating and exporting graphite mine at Kwamsisi and close to many other advanced exploration projects held by listed companies in the UK and Australia.

“We are clearly in the right area, have a good address and now these results have demonstrated that we have something that may have significant potential,” said Jason Brewer, CEO of Marula Mining.

Several outcrops of graphitic schist and graphitic gneiss occur with large flake sizes visibly observed and to be now quantified by accredited laboratory testing in Tanzania.

Geofields has made a number of recommendations including an IP ground survey to be carried out to determine the graphite resource potential at depth and laterally along the east to west controlling structure. Further recommendations include targeting extensions of the known 500 metres surface mineralised graphite zone towards the west and also the northern flanks of this mineralised trend.

Brewer said the next phase of work will incorporate all of the recommendations from Geofields and focus on defining the resources at these two prospects, as well as expanding the project scope to include a number of additional granted mining licenses that KGIP are looking to incorporate into the Bagamoyo project.

Variety of high quality African mining projects

As the company advances operations at its existing battery metals focused projects, Marula Mining said it will continue to build and expand its interests in other high-quality projects in Africa. Its strategy is to identify and invest in advanced and high-value mining projects throughout east, central and southern Africa.

It has been a busy week for Marula Mining, as it has also just updated investors on its Kinusi copper project, located in the Dodoma region in central Tanzania. The miner recently increased its commercial interest in Kinusi to 75% through an amended agreement with Tanzanian mining company, Takela Mining Tanzania.

Marula Mining, together with Takela and its mineral processing consultants, Southern Metal Processing, are advancing plans to install a copper processing plant at Kinusi with initial design and capital and operating costs works well underway and in line with Marula’s strategy to advance Kinusi to production in H2 2023.

In parallel with this, Marula Mining is advancing its discussions on copper offtake arrangements with four short-listed global trading commodity groups for the sale and purchase of copper from the project.

Approximately 100 kilogrammes of representative samples from Kinusi are to be delivered to these groups for analysis, and finalisation of offtake and payment terms. Additional samples are being sent for assay and analysis as part of optimisation metallurgical and process plant test work.

CEO Brewer said that the Takela team are already advancing on site activities and they plan to commence initial mining operations in Q2 2023 and the stockpiling of high-grade copper mineralisation ready for processing. He said he thought the intensification of discussions regarding the offtakes from Kinusi were “no doubt partly driven strengthening copper market and supply and price outlook.”