Africa-focused mining and exploration investment company Marula Mining is set to finalize its acquisition of the Northern Cape Lithium and Tungsten (NCLT) project following the receipt of a signed prospecting right in December.
The company will complete the transaction by making the final £625,000 (approximately R15 million) payment to vendors through the issuance of 20.83 million shares.
The NCLT project spans 15,000 hectares and is adjacent to Marula’s existing Blesberg mine, as well as the recently approved Blesberg Extension prospecting right application.
With the acquisition nearing completion, Marula is now poised to begin the next phase of exploration and mine development.
As part of its evaluation, the company has conducted a detailed inspection of key tungsten mines and deposits, including the Kaalbeen and Isis tungsten mines, along with the Koubank, Kaalbeen West, and Armbank tungsten deposits.
Observations from these inspections confirm the presence of high-grade tungsten mineralization in both historical open-pit and underground mining areas, as well as in surface waste stockpiles.
The Koubank tungsten deposit is a primary focus due to its proximity—just 6 km from Blesberg—and the extensive previous exploration, which included drilling, trenching, and small-scale open-pit mining. Additionally, the company inspected the Kaalbeen West tungsten deposit, located 2.3 km northwest of the main Kaalbeen mine, where broad tungsten-bearing veins are evident.
Marula’s executive team also visited the primary spodumene pegmatite, situated 6 km northeast of Blesberg, to assess the tantalum, spodumene, and beryllium mineralization within the pegmatite’s intermediate zone.
The next phase of exploration and development will include a reassessment of historical, non-JORC-compliant tungsten and tantalum resources, reinterpretation of past geological studies, and a large-scale sampling program targeting the extensive 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 mineralization in both historical mine workings and surface stockpiles presents a compelling opportunity for near-term production, with plans to recommence mining activities later in 2025,” said Marula Chairperson Richard Lloyd.
He emphasized that advancing exploration and development at NCLT is a key step in expanding the company’s focus on tungsten and tantalum mining, aligning with its long-term regional strategy.
“The completion of the site visit, the newly issued prospecting right, and our commitment to further development highlight our confidence in the NCLT project.
We remain focused on unlocking value from this asset and look forward to providing further updates,” Lloyd added.
