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Sneak peek at Mount Burgess Mining’s half-yearly performance

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Highlights 

  • Mount Burgess Mining NL (ASX:MTB) is assessing the way forward for the Kihabe-Nxuu Project in Western Ngamiland, Botswana.
  • In the half-year ended 31 December 2021, Mount Burgess investigated the potential to exploit additional known metal credits like Copper, Vanadium, Gallium and Germanium and investigating metallurgical processes that can enhance the possibility for on-site beneficiation of metal production.
  • The Company recently signed a Memorandum of Understanding (MOU) with Botala Energy Ltd (BTE).

Mount Burgess Mining NL (ASX:MTB) aims to explore for and in case of a discovery, develop commercial deposits of mineral resources. Currently, the Company is assessing the way forward for the Kihabe-Nxuu Project in Western Ngamiland, Botswana, situated in Prospecting Licence PL43/2016 which covers an area of 1,000 sq/km.

Kihabe and Nxuu deposits are seven km apart, and both have the potential to be open cut mining operations. Currently, Mount Burgess is involved only in exploration and resource development stages.

Overview of activities across half-year ended 31 December 2021

The main business activity during the six months to 31 December 2021 consisted of assessing the way forward for the Kihabe-Nxuu Zn/Pb/Ag/V/Ge/Ga polymetallic project. To this regard, Mount Burgess focused on the below activities-

  • Investigating the potential to exploit additional known metal credits such as Copper, Vanadium, Gallium and Germanium.
  • Investigating various metallurgical processes that could be applied to enhance the potential for on-site beneficiation of metal production.

Notably, Mount Burgess has been in a far more favourable position to raise funds for ongoing resource development and exploration expenditure for the project, especially after regained title to the project through the grant of PL43/2016 in 2020 (up until 31 December 2022).

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Current stance

Mount Burgess has developed 2004 JORC compliant indicated and inferred SEDEX resources that amount to 25 million tonnes @ 3% Zinc equivalent grade made up of Zinc and Lead, containing 3.3 million ozs of silver. Copper, Vanadium, Gallium and Germanium credits are not included in the 2004 JORC compliant resource calculations, but at current prices could represent significant credits.

Delineated as a SEDEX system of mineralisation, there is a possibility for the discovery of additional resources within PL 43/2016.

As of now, the Company is awaiting assay results from recent drilling conducted at its shallow basin shaped, totally oxidised Nxuu Deposit.

MOU with Botala Energy

Taking its development spree further, Mount Burgess recently 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), if Mount Burgess adopts this potential power supply for its Project.

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This appears to be a strategic deal, firstly as both companies operate in Botswana and secondly, BTE has the potential to provide a power supply and Mount Burgess requires a power supply. Discussions have started with the aim of attaining a mutually beneficial solution.

Way forward

At the Nxuu deposit, some further 1,500m of drilling is required to enable Mount Burgess to quote an Indicated/Measured Resource compliant with the 2012 JORC Code. The Company can then proceed to a Pre-feasibility Study. Subsequently, after evaluating a commercial power supply, Mount Burgess can then proceed to a Definitive Feasibility Study.

On 14 March 2022, MTB traded at A$0.006 on the ASX.


 


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