Image Source: Company Website
- Assay results for initial seven out of the 17 holes drilled between October-December 2021 at the Nxuu Deposit have been received.
- Samples from each of these seven holes have been assayed for zinc, lead, silver, gallium, germanium and vanadium.
- Currently, the company is assembling additional data to interpret and associate results of these 7 holes with results of the previously drilled holes.
Marching ahead on its Kihabe-Nxuu polymetallic project, Mount Burgess Mining NL (ASX:MTB) announced assay results of the latest drilling campaign at the Nxuu oxidized deposit. The multi-commodity opportunity at the project coincides with increasing demand for critical metals as the global economy transitions to a cleaner and digital future.
Assay results for initial seven out of the 17 holes drilled between October-December 2021 at the Nxuu Deposit have been received. Samples from each of these seven holes have been assayed for zinc, lead, silver, gallium, germanium and vanadium.
The Nxuu deposit is a shallow basin-shaped deposit, which hosts mineralisation within a totally oxidised quartz wacke in a barren dolostone basin.
The latest assay results of the seven drill holes Data Source: Mount Burgess Mining Announcement 8 April 2022
Currently, the company is assembling additional data to interpret and associate results of these 7 holes with results of the previously drilled holes. Upon the completion of the collection of data, the company would release subsequent updates in due course.
In recent months, prices of critical and strategic metals have witnessed strong support from rising demand for semiconductor chips for electric vehicles and consumer electronics and the transition to renewable energy is triggering massive demand growth anticipations in the energy storage sector.
Currently, the metals trade in ranges of –
Multi-commodity assay results may result in a diversified revenue base at the mineral project upon development, contingent on the viability of commodity operations.
Previously undertaken mineralogical test work has already confirmed that vanadium occurs in the oxide mineral, Descloizite. The grade of vanadium pentoxide (V2O5) in Descloizite is 1.785 times the grade of vanadium.
So far, the metallurgical test work has highlighted –
The mineralogical test work has also highlighted that both Ga and Ge are primarily hosted in muscovite (Mica), which can be recovered by flotation to produce a mica-rich concentrate to recover Ga and Ge on site. This would require confirmatory metallurgical test work to be undertaken.
MTB believes that another ~1,500m of drilling would be required to estimate JORC 2012 code-compliant Indicated/Measured Resources. Thereafter, Mount Burgess intends to advance to a Pre-feasibility Study and subsequently to a Definitive Feasibility Study. The polymetallic potential of the Kihabe-Nxuu project may be crucial in enhancing the economics of the mineral project and could be crucial in creating sustainable gains for MTB’s shareholders.
MTB traded at AU$0.008 a share on 8 April 2022.
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