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    MTB   AU000000MTB6

MOUNT BURGESS MINING N.L.

(MTB)
Delayed Australian Stock Exchange  -  02:10 2022-09-30 am EDT
0.005000 AUD   -.--%
09/29Mount Burgess Mining N.L. Announces Resignation of Karen Clark as A Non-Executive Director, Effective 30 September 2022
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09/15Mount Burgess Mining N.L. Reports Earnings Results for the Full Year Ended June 30, 2022
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09/15Mount Burgess Mining N.L. Auditor Raises 'Going Concern' Doubt
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Mount Burgess Mining N.L. - Kihabe Polymetallic Zn/Pb/Ag/V2O5 Deposit Mineral Resource Estimate Compliant with the 2012 JORC Code

08/10/2022 | 09:17am EDT

Mount Burgess Mining N.L. (ASX: MTB) ('Mount Burgess' or 'the Company') is pleased to advise that it has received an updated 2012 JORC Code compliant Mineral Resource estimate for the Zn/Pb/Ag/V2O5 portion of its polymetallic Zn/Pb/Ag/V2O5/Ga/Ge/Cu Kihabe Deposit in Western Ngamiland, Botswana.

The Mineral Resource estimate was compiled by an independent resource consultant

Mineral Resource Estimate

The Mineral Resource was estimated by applying a 0.5% low cut to a Zn equivalent grade calculated for Zn/Pb/Ag/V2O5, totalling 21 million tonnes at 2.04% Zn equivalent. The total resource is made up of 11.7 million tonnes of Indicated Mineral Resource (55.9%) and 9.3 million tonnes of Inferred Mineral Resource (44.1%)

Geology and Geological Interpretation

The Kihabe Deposit, situated within a Neo-Proterozoic belt, 7km West of the Nxuu Deposit, covers a strike length of 2.4km. The Kihabe Deposit lies in the north-western region of Botswana at the southern margin of the Congo craton. A gossan anomaly, 12 km south of the Kihabe Deposit is centred on an exposed gossan within the project area. To the north of the project tenement are granitoids, ironstones, quartzites and mica schists of the Tsodilo Hills Group covered by extensive recent Cainozoic sediments of the Kalahari Group. Below the extensive Kalahari sediments are siliciclastic sediments and igneous rocks of the Karoo Supergroup in fault bounded blocks. The Kihabe SEDEX style Zn/Pb/Ag/V2O5/Ga/Ge/Cu mineralisation occurs in quartz wacke situated on the contact of a steeply dipping barren dolomite unit. The deposit is variably weathered, with base metal mineralisation occurring as a series of steeply dipping to sub-vertical units in the hanging wall of the barren dolomite unit.

Competent Person Statement

The information in this release that relates to Mineral Resources is based on information compiled by Mr Shaun Searle who is a Member of the Australasian Institute of Geoscientists. Mr Searle is an employee of Ashmore Advisory Pty Ltd and independent consultant to Mount Burgess Mining NL. Mr Searle has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Searle consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Contact:

Nigel Forrester

Tel: (08) 9355 0123

Email: mtb@mountburgess.com

About Mount Burgess N.L.

Mount Burgess N.L. (ASX: MTB) is a Perth-based company, focused on the exploration and development of its 100%- owned Kihabe-Nxuu Zn/Pb/Ag/V/Ga/Ge project in Western Ngamiland, Botswana. The Company has been listed on the Australian Securities Exchange since 1985 and has previously discovered the Red October gold deposit in Western Australia and three kimberlites in Namibia.

Forward Looking Statement

This report contains forward looking statements in respect of the projects being reported on by the Company. Forward looking statements are based on beliefs, opinions, assessments and estimates based on facts and information available to management and/or professional consultants at the time they are formed or made and are, in the opinion of management and/or consultants, applied as reasonably and responsibly as possible as at the time that they are applied. Any statements in respect of Ore Reserves, Mineral Resources and zones of mineralisation may also be deemed to be forward looking statements in that they contain estimates that the Company believes have been based on reasonable assumptions with respect to the mineralisation that has been found thus far. Exploration targets are conceptual in nature and are formed from projection of the known resource dimensions along strike. The quantity and grade of an exploration target is insufficient to define a Mineral Resource. Forward looking statements are not statements of historical fact, they are based on reasonable projections and calculations, the ultimate results or outcomes of which may differ materially from those described or incorporated in the forward-looking statements. Such differences or changes in circumstances to those described or incorporated in the forward-looking statements may arise as a consequence of the variety of risks, uncertainties and other factors relative to the exploration and mining industry and the particular properties in which the Company has an interest. Such risks, uncertainties and other factors could include but would not necessarily be limited to fluctuations in metals and minerals prices, fluctuations in rates of exchange, changes in government policy and political instability in the countries in which the Company operates

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2022 - - -
Net income 2022 -0,28 M -0,18 M -0,18 M
Net Debt 2022 1,19 M 0,76 M 0,76 M
P/E ratio 2022 -13,7x
Yield 2022 -
Capitalization 4,30 M 2,77 M 2,77 M
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees -
Free-Float 44,5%
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Managers and Directors
Nigel Raymond Forrester Chairman & Managing Director
Harry Warries Independent Non-Executive Director
Robert Brougham Non-Executive Director
Serene Chau Joint Secretary & Accountant
Jan E. Forrester Joint Secretary
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