Key achievements of Mount Burgess Mining in March 2022 quarter

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  • Mount Burgess Mining NL (ASX:MTB) made significant progress at Kihabe-Nxuu Project in Western Ngamiland, Botswana.
  • At Nxuu deposit, Mount Burgess is awaiting assay results from a further ten diamond core holes.
  • Discussions have begun with Botala Energy to achieve a mutually beneficial solution after a MoU was signed in March 2022.

Mount Burgess Mining NL (ASX:MTB) has been assessing the way forward for the Kihabe-Nxuu Project in Western Ngamiland, Botswana. In the quarter ended 31 March 2022, Mount Burgess made significant progress at this polymetallic Zn/Pb/Ag/Cu/V/Ge project.

The Company has been granted PL43/2016 up till 31 December 2022, that covers an area of 1000 sq km within which is situated a Neoproterozoic belt prospective for base metals. Of the two polymetallic sedimentary exhalative (SEDEX) style Kihabe and Nxuu deposits so far defined, the Company plans to develop the Nxuu Deposit first.

Mount Burgess tenement holding, Source- Company announcement, April 2022

Progess at Nxuu polymetallic Zn/Pb/Ag/V2O5/Ga/Ge Deposit

The Nxuu deposit is a shallow basin shaped polymetallic deposit hosting Zinc, Lead, Silver, Vanadium and Germanium mineralisation. During the quarter, assay results from seven Nxuu Deposit diamond core holes received were incorporated into the Nxuu Deposit assay data base. The incorporation of assay results from these seven diamond core holes permits data to be assembled for results from thirty diamond core holes.

  • 45m of Ga intersections give a weighted average grade of 10.8g/t, applying an 8g/t low cut
  • 10m of Zn mineralisation give a weighted average grade of 2.0%, applying a 1% low cut
  • 95m of Pb mineralisation give a weighted average grade of 1.5%, applying a 1% low cut
  • 10m of Ag mineralisation give a weighted average grade of 22.1g/t, applying a 10g/t low cut
  • 83m of V2O5 mineralisation give a weighted average grade of 1,224ppm (1.2kg/t) applying a 250g/t low cut
  • 28m of Ge mineralisation give a weighted average grade of 5.6g/t, applying a 4g/t low cut

Mineralisation in the Nxuu Deposit occurs in a quartz wacke situated within a shallow barren dolostone basin. The 30 drill holes overall contain 195.06m of Kalahari sand cover and 1,024,24m of mineralised quartz wacke, totaling 1,219.30m. It was revealed that the depth to base of mineralisation of the 30 drill holes is only 40.64m, on an average.

Additionally, 26 holes assayed for Gallium contain 607.45m of mineralisation in 1,036.20m, to the base of mineralisation. On average 50.30% of the 30 hole lengths contain Zn/Pb/Ag/V2O5/Ge mineralization.

The Company is awaiting assay results from a further ten diamond core holes.

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Progess at Kihabe polymetallic Zn/Pb/Cu/Ag/V2O5/Ga/Ge Deposit

During the quarter, Mount Burgess completed a review of Gallium (Ga) assay results from the Kihabe Deposit, thanks to the significant increases in Ga prices. Notably, Ga could represent a significant credit for the Kihabe Deposit. The Company revealed that continuous Ga mineralisation occurs over a 60 degree inclined down hole intersection of 91m (KDD201).

Mineralogical Test Work

The University of Tasmania conducted mineralogical test work on diamond core from the Kihabe Deposit to determine the host minerals for Ga and Germanium (Ge). Results from laser analysis showed that both Ga and Ge follow or are parallel to the laser signals from Aluminium (Al), Potassium (K) and iron (Fe). Possibly, both Ga and Ge are primarily hosted in Muscovite (mica).

 Developing polymetallic sedimentary exhalative style deposits in Botswana

MoU WITH Botala Energy

In March 2022, the Company signed a Memorandum of Understanding (MOU) with Botala Energy Ltd (BTE). The MoU concerns the potential for the supply by BTE of an energy solution consisting of solar / battery hybrid potentially backed by Liquified Natural Gas (LNG).

This is a strategic deal, with BTE bearing the potential to provide a power supply and Mount Burgess requiring a power supply. Discussions have begun to achieve a mutually beneficial solution.



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