Mount Burgess (ASX:MTB) reports initial MRE for Nxuu deposit

Highlights

• Mount Burgess Mining (ASX:MTB) is committed to advancing its wholly owned Kihabe-Nxuu polymetallic project.
• The initial Indicated/Inferred Mineral Resource Estimate for the Nxuu Deposit is 6 million tonnes containing Zn/Pb/Ag/V₂O₅/Ge/Ga.
• The company says that high mineralised content volume of the deposit, being 83.4%, is of significance.
• To conduct an Indicated/Measured Mineral Resource compliant with the 2012 JORC Code, the company needs to undertake further drilling operations.

Mount Burgess Mining NL (ASX:MTB) has released an important update concerning its wholly owned Botswanan asset, Kihabe-Nxuu project.

The Perth-based mineral exploration company has released initial Mineral Resource Estimate (MRE) for the Nxuu deposit in accordance with the 2012 JORC Code.

As per the update, applying low cuts of 300ppm for vanadium pentoxide (V₂O₅), 0.5% for lead (Pb), 0.5% for zinc (Zn), 10g/t for silver (Ag), 3g/t for germanium (Ge) and 10g/t for gallium (Ga), data from 70 drill holes was assembled for the initial Indicated/Inferred MRE of 6 million tonnes.

This estimate contains 1,040,000 ounces of Ag, 2,600 tonnes of V₂O₅, 32,000 tonnes of Pb, 64,000 tonnes of Zn, 16,000 kg of Ge and 61,000 kg of Ga, at an average Zn equivalent grade of 1.8%, applying a Zn equivalent 0.5% low cut for the deposit.

Of significance is the high volume of mineralised content of the deposit, being 83.4%, included in the MRE.

Data source: MTB update

Moreover, the 6 million tonnes are made up of

Data source: MTB update

Independent Geological Consultant Shaun Searle (MAIG) of Ashmore Advisory Pty Ltd conducted the initial Indicated/Inferred MRE, in line with the 2012 JORC Code, on the deposit.

Additional initial Inferred MRE

The company has also revealed details about additional initial Inferred MRE of 2.3 million tonnes of Ge/Ga surrounding the above 6 million tonnes Indicated/Inferred MRE.

Data source: MTB update

What’s next?

To conduct an Indicated/Measured MRE in line with the 2012 JORC Code, the company needs to undertake further drilling at the deposit. This is because assay results from four HQ diamond core holes have indicated that mineralisation at the central west zone of the deposit extends further to the west than originally thought.

For the increase in the mineralised intersections of the drill holes, extensional drilling is essential to the west of the central West zone. Also, further planned drilling is needed in the southwest zone and within the main central west and north-east zones. This drilling is estimated to require in the region of 2,600m of HQ diamond core.

On 01 November 2022, MTB shares traded at AU$0.004 on the ASX.