Marula Mining PLC - Africa-focused mining and development company - Says its local partners in Tanzania: Takela Mining Tanzania Ltd and NyoriGreen Mining Ltd have made seven new mining licence applications at the Nyorinyori graphite project and the NyoriGreen graphite project. Says the applications follow phase 1 exploration earlier this month. Licences are anticipated to be granted in the first quarter of 2024. Says the new licenses will consolidate its position in the area.
Chief Executive Jason Brewer says: "Over the past month we have been making considerable progress at both the Nyorinyori and NyoriGreen graphite projects, with the Phase 1 exploration work targeting the high-grade and jumbo flake graphite mineralisation. With the mineralisation identified to extend over an initial strike length of over two kilometres, with our geological consultants, we felt it necessary to look to expand our footprint in the area to include additional graphite mining licenses that are believed to have significant potential for high-grade and jumbo flake graphite mineralisation... we will be in a strong position to consolidate exploration activities in the area to target potential high-grade graphite mineralisation.
Current stock price: 12.95 pence each
12-month change: quadrupled
By Harvey Dorset, Alliance News reporter
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