Mount Burgess (ASX:MTB) progresses developments at Kihabe-Nxuu polymetallic project in H1

March 09, 2023 01:04 PM AEDT | By Team Kalkine Media

Mount Burgess (ASX:MTB) progresses developments at Kihabe-Nxuu polymetallic project in H1 — Image source: MTB PPT, November 2022

Kihabe and Nxuu MRE

The combined in-ground metal content of the Kihabe and Nxuu Mineral Resource Estimate (MRE), which sit at 29.5 million tonnes at various grades of Zn/Pb/Ag/V2O5/Ge/Ga, is as follows:

Image source: MTB update

Kihabe Deposit – The company believes that this deposit holds the potential to be an open-cut mining operation.

For this deposit, the MRE sits at 21 million tonnes, applying a 0.5 percent zinc equivalent low cut. This estimate covers zinc, lead, silver and vanadium pentoxide. To include copper, gallium and germanium in the mineral resource estimate (MRE), further drilling and assaying are required.

Nxuu Deposit - The Nxuu deposit has the potential to be an open-cut mining operation. Applying a 0.5 percent zinc equivalent low cut, the deposit has an MRE of 6 million tonnes at 1.8 percent zinc equivalent grade. This MRE contains zinc, lead, silver, gallium, germanium, and vanadium pentoxide.

Subsequent to the period, the company also announced appointment of Mining Engineer Jacob Thamage and Geologist Ian Barclay McGeorge as non-executive directors to its Board.

In essence, MTB continued developments aimed at assessing the potential to exploit additional known metal credits at its flagship project. The company believes that its strong, stable and experienced board has the capacity to develop these two deposits, backed by in-depth knowledge of the region and the metals.

MTB shares were trading at AU$0.003 midday on 9 March 2023.

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