Mount Burgess Mining's Kihabe-Nxuu Project: Advancements in Mineral Recovery
MTB (MTB) Share Update October 2024 Tuesday 29th
Mount Burgess Mining Reports Progress on Kihabe-Nxuu Project
Mount Burgess Mining NL has released its quarterly report, highlighting significant advancements in mineralogical and metallurgical test work at the Kihabe-Nxuu Project in Botswana.
Instant Summary:
- Completion of 1,711.7 meters of drilling at the Nxuu Deposit.
- High recovery rates: 93% Zinc, 84% Vanadium Pentoxide, 82% Silver.
- Potential for on-site production of Gallium and Germanium.
- Environmental Impact Assessment approved for further drilling.
Project Overview
Mount Burgess Mining's Kihabe-Nxuu Project, located on the Namibian border in Botswana, continues to show promise with its polymetallic resources. The project area spans 1,000 square kilometers under Prospecting Licence PL43/2016. The recent focus has been on the inclusion of critical minerals such as Gallium, Germanium, and Vanadium Pentoxide.
Drilling and Mineralization
The company completed 1,711.7 meters of drilling at the Nxuu Deposit, with an average drill hole length of 42.8 meters. The mineralization includes significant concentrations of Gallium and Germanium, with Gallium mineralization more than double the width of Zinc mineralization.
Metallurgical Advancements
Test work at the Nxuu Deposit has demonstrated high recovery rates: 93% for Zinc, 84% for Vanadium Pentoxide, and 82% for Silver. These results are achieved through solvent extraction, electro-winning, and gravity separation techniques. The ability to produce metals on-site could significantly reduce costs associated with exporting concentrates.
Environmental and Strategic Implications
With the approval of an Environmental Impact Assessment, Mount Burgess can proceed with infill drilling, paving the way for a Definitive Feasibility Study. This step is crucial for advancing towards mine planning and production. The project positions Botswana as a potential leader in supplying critical minerals outside of China.
The advancements in mineral recovery and the potential for on-site production are positive indicators for Mount Burgess Mining. These developments could enhance the company's market position and attract investor interest. The ability to produce critical minerals like Gallium and Germanium on-site is particularly noteworthy, given the global demand for these materials.
Investor Reaction:
Analysts are likely to view the progress as a positive step towards commercial viability. The high recovery rates and strategic positioning in the critical minerals market may boost investor confidence.
Conclusion:
Investors should keep an eye on Mount Burgess Mining's next steps, particularly the results of the infill drilling and the Definitive Feasibility Study. The company's strategic focus on critical minerals could offer significant long-term benefits.