Marula Mining Plc Phase 1 Exploration Activities Completed at Nyorinyori and NyoriGreen Projects

 
TIDMMARU 
 
Marula Mining PLC 
 
("Marula" or the "Company") 
 
27 December 2023 
 
Phase 1 Exploration Activities Completed at Nyorinyori and NyoriGreen Graphite 
Projects 
 
Marula Mining (AQSE: MARU), an African focused mining and development company, 
is pleased to announce that the Phase 1 Program of exploration activities at the 
Nyorinyori Graphite Project ("Nyorinyori") and the NyoriGreen Graphite Project 
("NyoriGreen") (together the "Projects") has now been completed, with the 
Company's independent geological consultants Geofields Tanzania Limited 
("Geofields") having undertaken the initial mapping, sampling, and trenching 
field work. 
 
An initial report of the findings from the Phase 1 Program of exploration 
activities is due to be received in January 2024 and along with the assay 
results from the sampling program, they will be incorporated into the Phase 2 
Program of exploration activities, which will include geophysics surveys, multi 
-spectral satellite image work, additional trenching, and the commencement of a 
diamond drilling program later in Q1 2024. 
 
Highlights: 
 
  · Phase 1 Program of exploration activities completed on schedule by Geofields 
  · The work at the Projects is focused on the high-grade and jumbo flake 
graphite mineralisation that has previously been observed with visual estimates 
of +90% graphite content in shallow broad graphite veins at Nyorinyori 
  · The Phase 1 Program of exploration activities comprised of mapping, 
sampling, and trenching field work across the 20 granted mining licenses that 
make up both the Nyorinyori and NyoriGreen Projects 
  · Approx. 200 samples have been taken as part of this Phase 1 Program and 
sample preparation will commence in the new year by SGS Tanzania, with the 
samples then sent to South Africa for assay work by SGS South Africa 
  · Assay results from these samples are expected to be received by the end of 
January 2024 
  · Initial feedback from Geofields on their findings from the Phase 1 Program 
of exploration activities have been positive in respect to both identified 
strike lengths of graphite mineralisation and visual grade estimations of total 
graphite content 
  · A preliminary Phase 1 Program report is due to be submitted to the Company 
by Geofields in early January 2024, which will include a summary of the initial 
findings and their recommendations for the next Phase 2 Program of activities 
  · This preliminary report and recommendations are due to be presented to the 
Company in early January 2024, with a final report to then be provided upon 
receipt of the assay results and geological database for the Projects 
  · A Phase 2 Program of exploration activities is then scheduled to commence in 
Q1 2024, incorporating the Phase 1 Program results and recommendations, and will 
include additional trenching, geophysics surveys, multi-spectral satellite image 
work, and the commencement of a resource drilling program across the Projects 
 
Jason Brewer, Marula Mining PLC CEO said: 
 
"The significant progress we have made at the Nyorinyori and NyoriGreen graphite 
projects would not be possible without the efficiency and effectiveness of 
Geofields. The pace at which they were able to complete the exploration 
activities is a testament to their skill and geological knowledge. 
 
""I am proud of the progress the Company has made at the Nyorinyori and 
NyoriGreen graphite projects. With the community engagement process commencing, 
the application for additional mining licences in progress, and now the 
completion of the Phase 1 exploration activities, we are well positioned to take 
advantage of the momentum we have created to advance the Projects to the next 
stage of development. I look forward to seeing what we can accomplish in 2024 
and providing updates to shareholders in the new year." 
 
Further Information 
 
Phase 1 exploration activities at the Projects included mapping, sampling, 
additional trenching work where applicable and the establishment of a 
comprehensive geological database across the 20 granted graphite mining 
licences. Approximately 200 samples across both Nyorinyori and NyoriGreen have 
been taken, with sample preparation to be completed by SGS Tanzania at its 
facilities in Mwanza, and the assay work to then be completed by SGS South 
Africa in Randfontein. 
 
The Phase 1 Program of exploration at Nyorinyori focused 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 at Nyorinyori. This 
mineralisation has been seen to extend over an initial strike length of over two 
kilometres at Nyorinyori and is interpreted to extend into the NyoriGreen 
licenses area. 
 
As announced on 13 December 2023, Takela Mining Tanzania Limited ("TMT") and 
NyoriGreen Mining Limited ("NML"), having collectively made seven new Mining 
License Applications at Nyorinyori and NyoriGreen. These applications are 
anticipated to be granted in Q1 2024. 
 
Additionally, to demonstrate the Company's commitment to its Environmental, 
Social and Governance principles, Marula Mining has commenced the community 
engagement process at the Nyorinyori and NyoriGreen graphite projects. This is a 
significant milestone for Marula, and its planned progress at the Projects, as 
the Company prioritises its move towards sustainable mining. 
 
The Directors of Marula are responsible for the contents of this announcement. 
 
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; the Blesberg Lithium and Tantalum Mine and Korridor Lithium Project in 
South Africa, the Kinusi Copper Mine, the Nyorinyori Graphite Project, the 
NyoriGreen Graphite Project and the Bagamoyo Graphite Project all in Tanzania 
and the Nkombwa Hill Project in Zambia. 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 the London Stock 
Exchange plc's Standard List or AIM Market, Kenya's Nairobi Securities Exchange 
and South Africa's Johannesburg Stock Exchange. 
 
For enquiries contact: 
 
+--------------------------------------+------------------------------+ 
|Marula Mining PLC                     |Email : jason@marulamining.com| 
|                                      |                              | 
|Jason Brewer,                         |Email : info@marulamining.com | 
|                                      |                              | 
|Chief Executive Officer               |                              | 
|                                      |                              | 
|Faith Kinyanjui Mumbi                 |                              | 
|                                      |                              | 
|Investor Relations                    |                              | 
+--------------------------------------+------------------------------+ 
|AQSE Corporate Adviser                |+44 (0)20 7213 0880           | 
|                                      |                              | 
|Cairn Financial Advisers LLP,         |                              | 
|                                      |                              | 
|Liam Murray / Ludovico Lazzaretti     |                              | 
+--------------------------------------+------------------------------+ 
|Broker                                |+44 (0)20 7469 0930           | 
|                                      |                              | 
|Peterhouse Capital Limited,           |                              | 
|Charles Goodfellow / Duncan Vasey     |                              | 
+--------------------------------------+------------------------------+ 
|Financial PR and IR                   |+44 (0)20 7138 3204           | 
|                                      |                              | 
|BlytheRay                             |                              | 
|                                      |                              | 
|Tim Blythe / Megan Ray / Said Izagaren|                              | 
+--------------------------------------+------------------------------+ 
 
Caution: 
 
Certain statements in this announcement, are, or may be deemed to be, forward 
looking statements. Forward looking statements are identi?ed 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 re?ect the Directors' current 
beliefs and assumptions and are based on information currently available to the 
Directors. 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END
(END) Dow Jones Newswires
December 27, 2023 02:01 ET (07:01 GMT)
Marula Mining (AQSE:MARU)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024