Kinusi Copper Assay Results Update
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Marula Mining PLC
(“Marula’’ or the “Company”)
24 July 2023
Kinusi Copper Assay Results Update
Marula Mining (AQSE: MARU) an African focused mining and development company, advises that the assay results from the 51 copper samples that were taken by Geofields Tanzania Limited ("Geofields") as part of the Phase 1 Program at the Kinusi Copper Mine (“Kinusi” or the “Project”) that were due to be received late in July 2023, as announced on 29 June 2023, have been delayed until early August 2023.
The assay results have been delayed as over 60% of the samples (33 of the 51 samples) submitted for analyses have given preliminary results that exceeded the upper testing / detection limit of 10,000mg/kg (>1.00% copper) under standard ICP-AES testing, with the balance of the preliminary results providing an average result of 4,918mg/kg.
Accordingly, the Company has requested additional analyses to be completed at SGS Laboratories (“SGS”) testing facilities in Tanzania.
All 51 samples will now be re-assayed by SGS at their facilities in Tanzania using the Aqua Regia digestion ICP-AES / 0.01-30% copper method, which is considered suitable for high grade copper ore analyses.
Results are expected to now be received by early August 2023.
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 South Africa’s Johannesburg Stock Exchange.
For enquiries contact:
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Marula Mining PLC Jason Brewer, Chief Executive Officer
Faith Kinyanjui Mumbi Investor Relations |
Email : jason@marulamining.com
Email : info@marulamining.com
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AQSE Corporate Adviser Cairn Financial Advisers LLP, Liam Murray / Ludovico Lazzaretti |
+44 (0)20 7213 0880 |
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Broker Peterhouse Capital Limited, |
+44 (0)20 7469 0930
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Financial PR and IR BlytheRay Tim Blythe / Megan Ray |
+44 (0)20 7138 3204
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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.
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