Exploration Begins At Marula Mining’s Bagamoyo Project
Marula Mining has announced that initial exploration activities at the Bagamoyo graphite project in Tanzania have commenced.
This follows the announcement made on 30 November 2022, when Marula secured a 73% commercial interest from local Tanzanian company Kusini Gateway Industrial Park in 22 granted graphite mining licenses located in Tanzania.
Marula Mining PLC’s CEO, Jason Brewer, stated: “I am thrilled to announce that Marula is making significant progress on its battery metals projects in Africa, which have proven to be a very promising portfolio.”
“Since signing the agreement with KGIP in late November 2022, we have focused our efforts on assessing the opportunity that exists on account of our 73% interest in the Bagamoyo Graphite Project.
“I was on site at the Bagamoyo project last month together with the KGIP team last month, and our country manager. We were very pleased with what we saw and what we believe can be accomplished in the short and medium term in partnership with KGIP.
“We have been impressed by the speed and competence in which Geofields has approached the Phase 1 exploration program to date.
“Geofields is strategic service provider company to the Tanzanian exploration and mining industry, and they will be working closely with our team in providing ground exploration survey works, drilling services, and in completing this Phase 1 Program.
“Graphite continues to stand out as an essential ingredient in the manufacture of electric vehicle batteries, and as global demand for electric vehicles continues to escalate it is expected to drive a considerable increase in demand for graphite, Marula intends to work towards supplying the product to the global markets from its exploration and development activities in Tanzania and in support of the green transition.
“I look forward to updating our shareholders and stakeholders alike, on our progress at Bagamoyo over this coming quarter and in releasing the results from the Phase 1 Program currently being completed by Geofields.”
Highlights:
Initial exploration activities have now commenced at the Bagamoyo Project in accordance with the Heads of Agreement signed with KGIP in November 2022
Geofields Tanzania, one of Tanzania’s leading exploration and mining service companies, has been engaged to complete the Phase 1 Program and has mobilised their team to the site and work is already underway
The Phase 1 Program will include mapping, sampling, and trenching across the 22 granted mining licenses and targeting high-grade, jumbo, and large flake graphite mineralisation
Samples from the Phase 1 Program will be collected and prepared to be sent for analyses in Tanzania
A comprehensive geological database will be produced as part of Phase 1 Program allowing the company’s management team and technical consultants to move towards implementing its Phase 2 Program work
The Phase 1 Program will be completed in Q1 2023. The results and recommendations from the Phase 1 Program completed by Geofields will be released following a review by the company’s technical management team, along with the details of the planned Phase 2 Program that will follow
Marula’s board and management team will be on site with KGIP in January 2023 to review Geofields’ progress and preliminary results
