Marula Mining Plc – Kinusi Copper Project Operations Update

Marula Mining (AQSE: MARU), an African-centered exploration and development corporation, has given updates about its operational advancements at the Kinusi Copper Project (“Kinusi”), situated in the Mpwapwa District in the Dodoma Region of central Tanzania, where the company’s project planning for copper ore processing is progressing towards a late 2023 start.

Through a business agreement with local Tanzanian mining firm, Takela Mining Tanzania Limited (“Takela”), as revealed on 12th April 2023, Marula possesses a 75% commercial stake in Kinusi.

Key Updates:

  • In May 2023, the company’s executive management team, key Takela representatives, and directors made multiple successful site visits, keeping pace with the planned increase in mining operations by 30th June 2023.
    The company’s mineral processing advisors, Southern Metal Processing Pty Limited (“SMP”), completed a site visit as part of finalizing plans for processing plant installations at Kinusi.
  • Approximately 40 kg of representative samples are being transported to SMP’s South African facilities for further metallurgical testing and process optimization.
  • The final design work and detailed cost estimates for the processing plant are in progress, with ongoing visits, inspection, and selection of crushing and associated processing units.
  • Additional mining equipment is being procured in South Africa, intended for delivery to the Kinusi site in line with ongoing development work.
  • Samples have been sent to SGS Laboratories in Tanzania for assay and metallurgical testing, with results anticipated by 30th June 2023.
  • The company’s geological advisors, Geofields Tanzania Limited (“Geofields”), are currently at the Kinusi site, commencing the Phase 1 Program of exploration activities across the 10 granted Primary Mining Licenses that constitute the project, as announced on 20th January 2023.
  • The Phase 1 Program is concentrating on small-scale shallow copper mining operations.
  • As stated on 4th April 2023, Geofields is also assisting in preparing the initial diamond drilling program, which includes drilling holes to depths of 100 to 150 meters. This program will enhance understanding of the structural controls to high-grade copper mineralization and determine the depth extensions of the shallow mineralization observed.
  • Discussions are ongoing with four shortlisted global trading commodity groups, and sample material from Kinusi has been sent to two testing facilities on their behalf to finalize initial off-take terms and conditions, along with associated advance and prepayment funding terms.
  • Conversations continue with community stakeholders regarding the implementation of planned community programs, employment, and training initiatives.
  • These discussions have advanced concerning the proposed relocated position of the copper processing plant, providing immediate access to power, water supply, and direct road access through to Dar es Salaam, Tanzania.

Jason Brewer, the Chief Executive Officer of Marula Mining PLC, made the following remarks:

“We take satisfaction in the steady headway we’ve achieved with the Kinusi Copper Project. My recent site tour reaffirmed my belief in the substantial potential this Project carries. The fact that representatives from offtake groups have been visiting the site underscores their curiosity in the Project.

In collaboration with SMP, our mineral processing consultants, we’re striving to ensure seamless and efficient preparation for the processing plant. We eagerly anticipate the outcomes of the metallurgical testing and process optimization efforts. Concurrently, exploration work is progressing at Kinusi, coupled with the awaited arrival of mining equipment.

As we persist with community-oriented programs in and around the Kinusi mine and the wider region, we cherish the harmony and collaboration of the local community and anticipate maintaining robust relationships.

Our primary aim remains unwavering as we further the Kinusi Copper Project: delivering value to our shareholders, partners, and stakeholders. We’re committed to fostering a project that resonates with our promise of sustainable and responsible operations.

We pledge to keep you regularly updated as the Project advances. Your continued backing and interest are invaluable to us, and we’re eager to share more accomplishments in the future.”

About the Kinusi Copper Project:

Situated in the Kinusi region of Mpwapwa District, in central Tanzania, the Kinusi Copper Project falls under the ownership of Takela, with 10 Primary Mining Licenses spanning roughly 91 hectares, eight of which are contiguous. These licenses are valid until September 30, 2029, granting the rights to prospect and mine copper.

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