(Alliance News) - Marula Mining PLC on Thursday said it has received assay results confirming high-grade copper at the sasimo prospect at the Kinusi copper mine.

The Africa-focused mining and development company said the results show up to 15.48% copper, in a copper mineralised corridor that extends for more than 1 kilometre, and 300 metres wide.

The firm said the average copper grade identified was 2.68%. Marula noted that it has received 51 samples as part of its phase 1 programme, with other high grades including 11.69%, 11.03% and 8.11%.

Marula said an initial exploration target for the corridor at Kinusi was estimated to be between 10 to 15 million tonnes of high-grade copper, gold or other base metals by Geofield Tanzania Ltd in August.

It said the second phase of exploration will include a geophysical survey, economic analysis, mine design study work and initial mining works programmes.

Chief Executive Jason Brewer said: "The assay results received from the SGS testing facilities in Tanzania, now allow us to move forward with both the next phase 2 programme of exploration activities at Kinusi and some of the more detailed mine planning for the processing of material through the new modular processing facilities that will be transported to site in this current quarter.

"The next phase of exploration work at Kinusi can now proceed and will look at an initial resource drilling program primarily aimed at taking the Geofields estimates of an initial exploration target of 10-15 million tonnes, all the way through to a formal JORC compliant ore resource."

Marula shares fell 2.7% to 8.88 pence each on Thursday afternoon in London.

By Harvey Dorset, Alliance News reporter

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