(Alliance News) - Marula Mining PLC on Tuesday highlighted a "compelling opportunity for near-term production" in South Africa following a site visit to a project.
The London-based mining company with projects in South Africa, Kenya and Tanzania said its Executive Chair Richard Lloyd, General Manager Jana van Wyk and its Metals Trading & Commodity Sales Consultant Richard Hawken visited the Northern Cape Lithium & Tungsten Pty Ltd project located in the Namaqualand District of the Northern Cape Province in South Africa.
The project extends over 15,000 hectares and is located north of the company's existing Blesberg mine.
The company noted an inspection of the Kaalbeen west tungsten deposit 2.3 kilometres northwest of the main Kaalbeen mine, where multiple sets of broad tungsten-bearing veins were visible.
Chair Lloyd said: "The recent site visit to the NCLT project has reinforced our confidence in the significant potential of this acquisition. The presence of high-grade tungsten mineralisation, both in historical mine workings and surface stockpiles, presents a compelling opportunity for near-term production, with a clear focus on recommencing mining activities later in 2025."
Last week Tuesday, Marula noted assay results from the Kinusi copper mine in the Mpwapwa District of Tanzania's Dodoma Region.
It highlighted an average grade of 19.72% copper, with individual assay results of seven samples between 14.78% and 22.56% copper.
Marula Chief Executive Officer Jason Brewer said: "These assay results are further confirmation of the high-grade copper concentrates that we have ready for sale at the Kinusi copper mine.
"We are consistently getting these high-grade assays results for our saleable copper and with these additional results now received it allows us to finalise our initial sales from Kinusi. I look forward to being able to confirm these initial sales and in confirming receipt of the sales proceeds."
Marula shares were 3.0% lower at 5.64 pence each on Tuesday afternoon on the Aquis in London.
By Tom Budszus, Alliance News slot editor
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