Mount Burgess Mining (ASX: MTB) Secures EIA Approval for Nxuu Drilling

Highlights

• Mount Burgess has received EIA approval to conduct resource definition drilling at its polymetallic Nxuu Deposit in Western Ngamiland, Botswana.
• The 2,600m drilling is needed for upgrading the mineral resource estimate and facilitating future feasibility studies.

Mount Burgess Mining NL (ASX:MTB) has provided an important update on its Nxuu Deposit, part of its polymetallic project in Botswana.

On 22 October 2024, the Department of Environmental Protection (DEP) Botswana approved an Environmental Impact Assessment (EIA) for resource definition drilling at the company’s polymetallic Zn/Pb/Ag/V/Ga/Ge Nxuu Deposit in Western Ngamiland. The EIA did not reveal any material environmental issues with the proposed drilling, highlighted the company update.

The Kihabe-Nxuu Project spans an area of 1,000km² under Prospecting Licence PL43/2016. It is located on Tribal Land adjacent to the Namibian border in Western Ngamiland, Botswana.

The EIA was granted to Mount Burgess (Botswana) (Pty) Ltd, a wholly owned subsidiary of Mount Burgess Mining and the registered holder of Prospecting Licence PL43/2016.

Upgrading Mineral Resource Estimate

The proposed work includes about 2,600m of vertical HQ diamond core infill drilling. The company believes this drilling is necessary to produce a Measured/Indicated Mineral Resource Estimate compliant with the 2012 JORC Code. This estimate will enable the company to conduct a Pre-feasibility study, followed by a Definitive Feasibility study.

The existing Indicated/Inferred Mineral Resource Estimate for the Nxuu Deposit must be upgraded to a Measured/Indicated Mineral Resource Estimate to be able to quote a Reserve. It is necessary for a Definitive Feasibility Study, to advance into mine planning and production.

Data source: Company update

PL43/2016 Extension Requested till 2026

In 2021, environmental legislation was revised requiring the grant of an EIA for drilling of any sort to be conducted on Tribal Land.

In April 2023, the company began preparing an EIA for the Nxuu Deposit to submit to the DEP. Delays due to changes in legislation have prevented any drilling since the renewal of PL43/2016 in January 2023, which is valid until 31 December 2024. The company has now applied for an additional two-year extension of PL43/2016, pushing the deadline to 31 December 2026.

Shares of MTB last traded on 23 October 2024 at AU$ 0.001.