Mount Burgess Mining NL (ASX: MTB) is an Australian explorer that since 1985 has been listed on the Australian Securities. The Company has a strong track record as it discovered Western Australian based Red October Gold Deposit, followed by the discovery of three kimberlites in Namibia. The Company is actively engaged in developing the Kihabe and Nxuu deposits in Botswana. Notably, the deposits host zinc, lead, silver, germanium and vanadium mineralisation.
The Kihabe – Nxuu Project is in Western Ngamiland and sits on the border with Namibia. Notably, the project lies approximately 700 kilometres northwest of the capital Gaborone and 350 kilometres by road from Maun, Botswana.
Prospecting Licence (PL 043/2016) covers an area of 1,000 square kilometres comprising of the portion of a Neo-Proterozoic belt of metasedimentary rocks, believed to host SEDEX style mineralisation. Notably, both the Kihabe and Nxuu deposits have been described to host late stage SEDEX style mineralisation. While the Nxuu Deposit hosts totally oxidized mineralisation, the top 25% of Kihabe Deposit is oxidized. The remaining underlying 75% of the Kihabe incorporates sulphide mineralisation.
The Company is led by strong management, that holds extensive experience in exploration and mining industry and have significant track record.
So far, the Company has developed resources at two deposits, that is Kihabe and Nxuu deposits lying 7 kilometres apart and containing significant Zinc, Lead and Silver mineralisation. Both the deposits also features Vanadium and Germanium mineralisation. The Company believes that based upon confirmed recoverability, the mineralisation can further enhance resource base valuation.
Kihabe resource exhibits strong growth prospects, with the potential to increase the Kihabe resource base and resource significantly high.