Mount Burgess receives assay results from Nxuu deposit, resource estimate on Kihabe progresses

Highlights

• Mount Burgess Mining NL (ASX:MTB) has received further assays from three more of the 18 holes drilled into the Nxuu Deposit last year.
• The Company will engage an independent consultant to conduct a resource estimate compliant with the 2012 JORC Code at Nxuu Deposit.
• An independent consultant is compiling a resource estimate on the Kihabe Deposit compliant with the 2012 JORC Code.

Mount Burgess Mining NL (ASX:MTB) continues to progress activities at its polymetallic Zn/Pb/Ag/Cu/V/Ge project in Western Ngamiland, Botswana- Kihabe-Nxuu project. It has now received further assays from three more of the 18 holes drilled into the Nxuu Deposit in Oct/Nov/Dec 2021. Earlier in April 2022, Mount Burgess had received assays from the first seven holes.

Notably, all holes were assayed for Zinc (Zn), Lead (Pb), Silver (Ag), Gallium (Ga), Germanium (Ge) and Vanadium (V).

Key findings

Previous mineralogical test work confirmed that the host mineral for Vanadium is the oxide mineral Descloizite. In Descloizite the grade of Vanadium Pentoxide (V₂O₅) is 1.785 times the grade of Vanadium.

In the recent assay results, the three drill holes were all vertical. Low cuts have been applied to assay grades as follows:

• Zinc (Zn) : 1%
• Lead (Pb) : 1%
• Silver (Ag) : 10 g/t
• Gallium (Ga) : 10 g/t
• Germanium (Ge) : 3 g/t
• Vanadium Pentoxide (V₂O₅) : 300 ppm

The depiction below demonstrates current metal prices of the various metals-

Test work details

Both metallurgical and mineralogical test work have been conducted in a bid to understand the specifics of the project better. Metallurgical test work conducted to date has shown that 93% Zn can be recovered on site from the oxide mineral Smithsonite, through solvent extraction and electro-winning. Besides, 81% of V₂O₅ can be recovered on site from the oxide mineral Descloizite, through gravity separation, followed by flotation using a hydroximate acid reagent for recovery to a concentrate.

On the other hand, mineralogical test work conducted to date has shown that Ga as well as Ge are primarily hosted in muscovite (mica). Mica in the form of flakes can be recovered by flotation to produce a mica rich concentrate, enabling the recovery of Ga and Ge on site. However, this requires confirmatory metallurgical test work.

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What next?

At the Nxuu Deposit, upon receipt of assay results, Mount Burgess will engage an independent consultant to conduct a resource estimate compliant with the 2012 JORC Code. Meanwhile, an independent consultant is currently compiling a resource estimate on the Kihabe Deposit compliant with the 2012 JORC Code.