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GABORONE - Marula Mining PLC (AQSE:MARU, A2X: MAR) has commenced initial field activities at its Boteti Lithium Brines Project in Botswana’s Makgadikgadi Desert Salt Pan, according to a press release issued Monday.
The company, which previously announced plans to acquire up to a 70% interest in the project from Botswanan exploration company Geowise Resources, has completed due diligence and is proceeding with formal acquisition documentation and incorporation of a special purpose vehicle in Botswana.
Marula has made its first payments to Geowise to fund exploration activities, fulfilling its obligation to finance 100% of exploration, feasibility studies, and mine development work.
Geowise’s exploration team has mobilized to conduct community liaison and stakeholder consultation ahead of planned drilling activities this quarter. The team will also perform preliminary field observations, including brine sampling of existing boreholes, mapping structural features, and identifying environmental conditions relevant to upcoming exploration.
The Makgadikgadi Desert Salt Pan has been designated the ’Makgadikgadi Lithium Zone’ by Botswana’s Department of Mines and is considered prospective for lithium and other critical minerals.
Following the initial phase, Marula and Geowise plan to commence exploration drilling at selected targets across three granted prospecting licenses. This work will include percussion or reverse circulation drilling, brine testing, and sampling.
The announcement noted that the information contained in the press release constitutes inside information for the purposes of UK Market Abuse Regulation.
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