Kula Gold Limited has acquired a new niobium project in Malawi

Kula Gold Limited (ASX: KGD) has formed a joint venture to develop the Wozi Niobium Project in Malawi, with the exploration licence application recommended for a grant by the Mining and Minerals Regulatory Authority. The project hosts niobium and tantalum mineralization in the mineral pyrochlore within a nepheline syenite intrusive stock, showing significant potential based on historic trenching results.

Upon receiving the licence, Kula plans to verify these historical results through field mapping, rock-chip and soil sampling and will advance toward a maiden drilling program in Q2 2025. The joint venture sees Kula holding a 75% stake, with African Rare Metals Pty Limited (ARM) owning 25% and retaining a 2% NSR royalty. Kula will initially fund solely US$100,000 for exploration. Malawi's favourable credit rating adds further promise to the project's development.

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