Marula Mining Plc Update on Processing at the Blesberg Lithium Mine
24 January 2023 - 6:01PM
UK Regulatory
TIDMMARU
Marula Mining PLC
("Marula" or the "Company")
24 January 2023
Update on Processing Operations at the Blesberg Lithium and Tantalum Mine
Marula Mining (AQSE: MARU) an African focused mining and development company,
is pleased to update the market and shareholders on mineral processing
activities at the Blesberg Lithium and Tantalum Mine in South Africa (the
"Blesberg Project" or "Blesberg") where initial deliveries of 1,000 tonnes of
high-grade 'run-of-mine' lithium ore under the US$5 million Lithium Prepayment
Facility ("Prepayment Facility"), that was announced 27 October 2022, are due
to commence shortly.
Highlights:
* First 1,000 tonnes of high-grade 'run-of-mine' lithium ore to be delivered
progressively over the next 4 weeks under the Prepayment Facility to
Southern Jade Resources Pty Limited
* In aggregate approx. 4,000 tonnes of material is either packaged in one
tonne bags or contained in the new run-of-mine stockpiles pending final
sorting and sizing
* Processing of the existing stockpiles is ongoing with all mobile mining
equipment on site and operational
* Mine layout optimisation work ongoing with upgrades already completed on
haul roads and access ramps to the stockpiles and all key aspects of site
infrastructure meeting expectations
* Processing plant equipment fully established on site and crushing and
screening of material operating to budgeted levels
* Check samples from bagged high-grade 'run-of-mine' lithium ore have been
taken for analysis as part of the final grade and ore quality
reconciliation required under the Prepayment Facility
* Sampling is being undertaken and managed by the Company's consultants at
various laboratories in South Africa to set proper testing protocols and
procedures for deliveries under the Prepayment Facility and for future
long-term offtake arrangements
* Site infrastructure continues to be upgraded with installation of a
telecommunications tower recently completed and installation of solar power
for the office administration and accommodation areas
* Long-term offtake discussions are also being progressed with multiple
parties for both material from the reprocessing of the existing stockpiles
and the potential hard rock conventional open pit lithium mining operation
being planned by the Company
* Marula's Board and management team will be on site in mid-February 2023 to
oversee ongoing processing activities and deliveries under the Prepayment
Facility
The update on processing operations at the Blesberg Project follows recent
on-site meetings by the Company's CEO, Mr Jason Brewer and the Company's
contractors, Southern Metal Processing Pty Limited ("SMP") and other key
stakeholders.
Processing operations at the Blesberg Project, which commenced in late November
2022, are focused on the existing stockpiles which are being reprocessed to
produce a high-grade lithium ore with commercial grades of between 4.00% and
5.50% Li2O and to remove the stockpiles from the underlying pegmatite deposit
to allow drilling and feasibility study work to commence to potentially
establish a long-term, hard rock conventional open pit lithium mining
operation.
Jason Brewer, Marula Mining PLC CEO said:
"I have recently returned from the Blesberg Project site and am pleased with
what I was able to observe first-hand. The visit really demonstrated to me the
great progress that has been made and the opportunity that exists there - in
the immediate term with the sales of high-grade lithium ore from the stockpiles
and longer-term with the potential to establish a conventional open pit lithium
mining and processing operation.
"The work that has been completed by our contractors Southern Metals Processing
is a credit to them and their management team on site. To have achieved what
they have in the past four months is a tremendous effort and to have commenced
the reprocessing activities in late November 2022 and already be in a position
with material bagged and ready for delivery under the US$5 million Lithium
Prepayment Facility that we secured in October 2022, is also a great
achievement.
"I am incredibly positive about what the Blesberg Project means to the Company
and what it can provide. As a team we have moved to demonstrate very quickly,
with our partners and key stakeholders, that we can make the transition into a
mine developer and operator.
"I believe Blesberg is just one of our projects that we can develop and bring
into production and I look forward to updating our shareholders and
stakeholders, on our continued progress over 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 and Bagamoyo 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 proposed 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's plc, and Kenya's Nairobi Securities
Exchange.
For enquiries contact:
Marula Mining PLC
Jason Brewer,
Chief Executive Officer Email : jason@marulamining.com
Faith Kinyanjui Mumbi Email : info@marulamining.com
Investor Relations
AQSE Corporate Adviser +44 (0)20 7213 0880
Cairn Financial Advisers LLP,
Liam Murray / Ludovico Lazzaretti
Broker +44 (0) 20 7392 1568
OvalX,
Tom Curran / Thomas Smith
Financial PR and IR +44 (0)20 7138 3204
BlytheRay
Tim Blythe / Megan Ray
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.
END
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