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Mount Burgess (ASX: MTB) 1HFY25 Update: Prospecting Licence Extension and New Drilling Approval

March 18, 2025 08:53 PM AEDT | By Aditi Sarkar
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 Mount Burgess (ASX: MTB) 1HFY25 Update: Prospecting Licence Extension and New Drilling Approval

Highlights

  • Mount Burgess has secured a two-year extension for Prospecting Licence PL043/2016 until 31 December 2026.
  • The company has secured new EIA approval for resource definition drilling at the Nxuu Deposit in Western Ngamiland.
  • The Kihabe Deposit hosts a 21 million tonne resource with zinc, lead, silver, and vanadium pentoxide.
  • The Nxuu Deposit holds a 6 million tonne resource, including zinc, lead, silver, vanadium, gallium, and germanium.

ASX-listed mineral exploration firm Mount Burgess Mining NL (ASX:MTB) has been actively advancing its Kihabe Nxuu Project in Botswana. In the half-year ended 31 December 2024 (1HFY25), the company focused on evaluating the future direction of the project which involved exploring the potential to exploit additional known metal credits, including copper, vanadium, gallium, and germanium. Additionally, the company investigated various metallurgical processes to enhance on-site beneficiation and improve the overall potential for metal production at the project.

Prospecting Licence Extended Until 2026

In December 2024, Mount Burgess received approval from the Minister of Minerals and Energy in Botswana to extend its Prospecting Licence PL043/2016 for an additional two years, now valid until 31 December 2026. This licence was granted to Mount Burgess (Botswana) (Pty) Ltd,  a wholly owned subsidiary of Mount Burgess Mining, and covers a significant area of 995.9km2.

In October 2024, the Department of Environmental Protection (DEP) in Botswana approved an Environmental Impact Assessment (EIA) for resource definition drilling at the polymetallic Zn/Pb/Ag/V/Ga/Ge Nxuu Deposit in Western Ngamiland. This approval marks a key step in advancing the exploration and potential development of the deposit.

As of 07 March 2025, MTB has developed Indicated and Inferred Mineral Resource Estimates compliant with the 2012 JORC Code at the Kihabe and Nxuu Deposits.

Shares of MTB last traded at AUD 0.004 on 18 March 2025.

 

 

 

 

 


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