ASX-listed company Mount Burgess Mining (ASX:MTB) has averaged 65.5% mineralisation per drillhole at the Nxuu Zinc-Lead-Silver-Germanium-Vanadium deposit in Botswana.
The company reports this result was calculated based on the results of 47 holes drilled into the Nxuu deposit. On average across the 47 holes, Kalahari sand cover amounts to 6.12m per hole or 14.3% of each drillhole. Barren or below low-cut quartz wacke above any mineralisation amounts to 7.18m per hole or 16.8% of each hole.
Mount Burgess also says depth to start of mineralisation amounts to 13.3m per hole, while non-mineralised intersections within the mineralised domains amounts to 1.44m per hole, or 3.4% of each drillhole.
The company reports this leaves an average of 28m per hole, or 65.5% of each hole containing zinc, lead, silver, vanadium oxide, germanium, and gallium mineralisation above low-cut grades, to the average base of mineralisation of 42.47m per hole.
The low-cut grades applied for this calculation included 1% for zinc and lead, 10 grams per tonne (g/t) for silver, 300 parts per million (ppm) for vanadium oxide, 3g/t for germanium, and 10g/t for gallium.
Kalahari sand cover is amenable to bulldozing or scraping with only 4 holes possibly needing light blasting at depths containing any calcrete
Mount Burgess has also witnessed its share price rise by 20% to $0.003 on the ASX at 12:45pm Australian Western Standard Time (AWST).
The company says Kalahari sand cover is amenable to bulldozing or scraping with only 4 holes possibly needing light blasting at depths containing any calcrete, and notes barren or below low-cut quartz wacke and other mineralised domains are oxidised and ‘highly’ weathered which will only require ripping and possibly limited drilling and light blasting.
Mount Burgess reports these characteristics should allow for ‘significant’ cost savings, and notes that drilling and blasting sulphide deposits can add up to an additional 30% to mining costs.
Mount Burgess Mining is an Australian company that has been listed on the ASX since 1985. The company discovered the Red October Gold Deposit in Western Australia, which was followed by the discovery of 3 kimberlites in Namibia. Currently the company is developing the Kihabe and Nxuu Zinc-Lead-Silver-Germanium and Vanadium deposits in Botswana.
Images: Mount Burgess Mining NL
