Following the receipt of the signed prospecting right for the Northern Cape lithium and tungsten (NCLT) project in December, Africa-focused mining and exploration investment company Marula Mining can now complete the acquisition of the project by making the final payment to the vendors.

Marula has elected to settle the £625 000 – about R15-million – tranche through the issuance of 20.83-million shares.

The NCLT project extends over 15 000 ha and is located contiguous to and immediately north of Marula’s existing Blesberg mine and contiguous to the recently approved Blesberg Extension prospecting right application.

Marula is now also in a position to start its next phase of exploration and mine development activities at NCLT.

It notes that a detailed inspection and review of key tungsten mines and deposits have been undertaken, including the Kaalbeen and Isis tungsten mines, as well as the nearby Koubank, Kaalbeen West and Armbank tungsten deposits.

The presence of high-grade tungsten mineralisation in former openpit and underground mining areas was observed in broad scheelite mineralised veins, and tungsten mineralisation was also observed in surface waste stockpiles.

Marula says the Koubank tungsten deposit is an area of particular focus given its location just 6 km from Blesberg and the level of previous exploration that has been undertaken including drilling, trenches and small openpit mining activity.

The site visit also included an inspection of the Kaalbeen West tungsten deposit located 2.3 km north-west of the main Kaalbeen mine and where multiple sets of broad tungsten-bearing veins are visible.

In addition to the inspection of the tungsten mineralisation, the company's executive management were able to visit the main spodumene pegmatite located just 6 km north-east of Blesberg to assess the tantalum, spodumene and beryllium mineralisation seen in the intermediate zone of the pegmatite.

The next phase of exploration and development work includes a re-assessment of the historical and non-Joint Ore Reserve Committee-compliant tungsten and tantalum mineral resources, reinterpretation of the historical geological work, and a major new sampling programme of the broad, extensive and exposed tungsten scheelite veins.

"[A] recent site visit to the NCLT project has reinforced our confidence in the significant potential of this acquisition. The presence of high-grade tungsten mineralisation, both in historical mine workings and surface stockpiles, presents a compelling opportunity for near-term production, with a clear focus on recommencing mining activities later in 2025.

"The commitment to advancing the next phase of work at the NCLT project marks a significant step towards expanding mining activities focused on tungsten and tantalum, reinforcing the company's long-term strategy in the region.

“The completion of the site visit, alongside the newly issued prospecting right and the commitment to further development, underscores the company's confidence in the potential of the NCLT project. The company remains focused on unlocking value from this asset and looks forward to providing further updates,” says Marula chairperson Richard Lloyd.