Kula Gold forms joint venture to explore for Wozi Niobium project in Malawi

Kula Gold has entered into a joint venture to explore the Wozi Niobium Project in Malawi, acquiring a 75% interest while African Rare Metals (ARM), an independent third party, retains a 25% stake. The exploration licence for the project, designated APL0630, is pending approval from Malawi’s mining regulatory authority, contingent on the completion of an environmental study.

Wozi Niobium project is located 225km north of Lilongwe, Malawi’s capital. The APL0630 exploration licence for the Wozi Niobium Project covers an area of approximately 5.52km². The region comprises igneous and metamorphic rocks from the Precambrian to Lower Palaeozoic Basement of the Mozambique Orogenic Belt. The mineralisation occurs in a nepheline syenite intrusive stock.

Wozi Niobium project

The mine was previously explored by Mantra Resources, which reported significant surface niobium mineralisation in 2007, suggesting large-scale potential. Under the joint venture, Kula Gold will fund the initial exploration program with a budget of $100,000. ARM will retain a 2% net smelter return royalty. ARM’s stake may reduce to 10%, remaining free carried until a mining decision is made.

A field program, including field mapping, rock-chip sampling, and soil sampling, to verify historical niobium results and assess the project’s scale potential will be done in the first quarter of year 2025 while initiation of a maiden drilling program to advance the project’s development will be made on the second quarter of the year.

Kula Gold’s managing director, Ric Dawson, emphasized the strategic value of diversifying the company’s portfolio with the Wozi Niobium Project, which complements their flagship Mt Palmer Gold Mine in Western Australia. This project underscores Kula Gold’s focus on identifying high-impact, low-cost opportunities while leveraging its team’s extensive African mining experience in discovery, construction, and operations.