Sept quarter recap: Ga, Ge, and More at Mount Burgess Mining’s (ASX: MTB) Nxuu Deposit

Highlights

• Mount Burgess Mining continued to progress the development of its 100%-owned polymetallic project in Botswana in the September quarter.
• 40 vertical HQ diamond core drill holes have been assayed for Ga/Ge/V.
• MTB received firm commitments for a placement to raise AU$530,000 via a placement.
• The company plans to undertake further diamond core drilling for Indicated/Measured Mineral Resource Estimate for the Nxuu Deposit.

ASX-listed Mount Burgess Mining NL (ASX: MTB) is a mineral explorer and developer with its prime focus centered on the development of its 100%-owned project in Botswana.

The company continued to progress its exploration activities in the September quarter as well. In this article, we have listed out some key updates from last quarter ended 30 September 2023. Have a read!   

Advances at the Kihabe-Nxuu project

The study to analyse how can Ga, Ge, and V₂O₅ contribute to the Kihabe-Nxuu project was expanded by the company during the quarter. The company assayed 40 vertical HQ diamond core drill holes for gallium and germanium, along with zinc, lead, silver, and vanadium pentoxide.

Data source: company update

Data source: company update

Ongoing Test Work on Nxuu Deposit’s Ga/Ge

In September 2023, MTB sent 940.5kg of drill core samples from 17 holes drilled at Nxuu drill for metallurgical and mineralogical test work. The test work was conducted to check suitable routes for on-site recoveries of germanium and gallium.

Data source: company update

Germanium Intersections for the Nxuu Deposit

During the quarter, MTB also gathered data for the drill holes assayed for Ge at the deposit. Assay results for about 32 holes drilled into the prime zone of the deposit have been received.

Nxuu Polymetallic Deposit Ga/Ge Exploration Target

An Exploration Target has been defined for the deposit following the JORC Code 2012 edition. It has been reported in addition to the previously reported Nxuu Mineral Resource.

This target has been reported on the basis of the exploration activities and references results of historical drilling, geophysical and geological information. Read more here.

Capital raising via placement

Mount Burgess Mining received firm commitments for a placement to raise AU$530,000 from sophisticated and professional investors. Under the Placement, total 132,475,668 ordinary fully paid shares were issued at a price of AU$0.004 per share. The funds generated will be used to advance metallurgical testwork at the deposit.

To know more, you may click here.

How’s MTB planning to advance exploration at the Nxuu Deposit?

To proceed to a Pre-Feasibility Study, it has been estimated that 2,500m more vertical, HQ diamond core drilling is required to quote an Indicated/Measured Mineral Resource Estimate for the Nxuu Deposit, compliant with the 2012 JORC Code.