Marula Mining Plc Update on Processing at the Blesberg Lithium Mine

 
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 : [e-mail] 
 
Faith Kinyanjui Mumbi                            Email : [e-mail] 
Investor Relations 
 
AQSE Corporate Adviser                                     [phone] 
Cairn Financial Advisers LLP, 
Liam Murray / Ludovico Lazzaretti 
 
Broker                                               [phone] 
OvalX, 
Tom Curran / Thomas Smith 
 
Financial PR and IR                                        [phone] 
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 
 
 

(END) Dow Jones Newswires

January 24, 2023 02:01 ET (07:01 GMT)