Mount Burgess Mining N L : Metallurgical Test Work - Vanadium Recoveries - Nxuu Deposit 10/01/2019 (pdf 852 KB)

ASX Code: MTB

10 January 2019

POSITIVE METALLURGICAL TEST WORK RESULTS RECEIVED FOR RECOVERY OF VANADIUM,

NXUU ZINC/LEAD/SILVER/VANADIUM AND GERMANIUM DEPOSIT, BOTSWANA

The Company is pleased to announce that it has now received preliminary results from ALS Laboratories for metallurgical test work conducted for the recovery of Vanadium from the Nxuu deposit.

The results from the two recovery processes tested for Vanadium show that:

•  Through applying a Direct Flotation process with Hydroxamate, as a collector, 80.4% of Vanadium was recovered to concentrate from sample crushed to 75 µm.

•  Through applying the process of Wet Table Gravity Separation on a sample crushed to 150 µm, followed by Flotation of the gravity tail crushed to 75 µm, using Hydroxamate, recovered 80.7% of Vanadium to concentrate.

The Company believes that the high Vanadium recoveries obtained from this latest metallurgical test work are very encouraging and further test work will seek to further optimise process performance.

The preliminary Vanadium beneficiation test work was conducted by ALS Laboratories on a composite sample of 53.5 kg from four of the fifteen HQ diamond core holes drilled into the Nxuu Deposit in October/November 2017.

•  Appendix 1 details the make up of the composite sample used for this metallurgical test-work.

•  Appendix 2 shows the drill hole plan of the Nxuu Deposit, highlighting the location of the four drill holes, NXDD029, NXDD032, NXDD034 and NXDD046, samples from which were selected to make up the composite as shown in Appendix 1.

•  Appendix 3 shows the Vanadium and Vanadium Pentoxide intersections and grades of the drill holes shown in Appendix 2.

The composite sample was crushed to 100% passing 0.212 mm and then dry screened over a 0.075 mm screen. The composite sample was first subjected to mineralogical test work (Refer to the announcement released by the Company on 12 December 2018), followed by metallurgical test work which gave the above results.

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 notstatements 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.

Other important Information

Purpose of document: This document has been prepared by Mount Burgess Mining NL (MTB). It is intended only for the purpose of providing information on MTB, its project and its proposed operations. This document is neither of an investment advice, a prospectus nor a product disclosure statement. It does not represent an investment disclosure document. It does not purport to contain all the information that a prospective investor may require to make an evaluated investment decision. MTB does not purport to give financial or investment advice.

Professional advice: Recipients of this document should consider seeking appropriate professional advice in reviewing this document and should review any other information relative to MTB in the event of considering any investment decision.

Forward looking statements: This document contains forward looking statements which should be reviewed and considered as part of the overall disclosure relative to this report.

Disclaimer: Neither MTB nor any of its officers, employees or advisors make any warranty (express or implied) as to the accuracy, reliability and completeness of the information contained in this document. Nothing in this document can be relied upon as a promise, representation or warranty.

Proprietary information: This document and the information contained therein is proprietary to MTB.

Competent Person's Statement:

Mr Chris Campbell-Hicks, Metallurgist, FAusIMM (CP Metallurgy), MMICA, Non-Executive Director of the Company, who reviewed the content of the announcement, has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2102 Edition of the JORC Code and has consented to the inclusion in respect of the matters based on the information in the form and context in which it appears.

Mr Campbell-Hicks has for a number of years whilst working with Coffey Mining and other consultancies and companies made contributions to numerous Scoping Studies, Pre-feasibility Studies and Feasibility Studies under the 2004 JORC Code, the 2012 JORC Code and the Canadian National Instrument (NI 43-101). As such he qualifies as a Competent Person for reporting on matters pertaining to metallurgy, process engineering and interpretation of test work results and data for the establishment of Design Criteria for such studies.

ACN: 009 067 476

8/800 Albany Hwy, East Victoria Park,

Western Australia 6101

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APPENDIX 1

SAMPLE SUBMISSION NO: MTB7 - 11 - 2018

Drill Hole Number	Easting	Northing	Dip	Azimuth degs	EOH/RL (m)	From (m)	To (m)	Weight (kg)	Composite Ave. V Grade ppm
NXDD029	509,000	7,821,900	-90	0	41.95/1131	38.00	39.58	2.3701	1,027
NXDD032	508,900	7,821,800	-90	0	50.95/1131	24.44	28.05	9.0550
48.00	50.00	4.3539
13.4089	1,159
NXDD034	508,850	7,821,800	-90	0	49.62/1131	12.00	16.00	9.3409
17.95	20.69	5.7463
24.80	26.97	5.5606
29.00	31.00	3.6017
24.2495	848
NXDD046	508,950	7,821,950	-90	0	20.95/1131	5.15	9.00	6.0373
15.00	19.38	7.4328
13.4701	1,084
TOTAL	53.4986	993

APPENDIX 3

Nxuu Deposit - Drill Hole details showing widths of Vanadium metal and Vanadium Pentoxide Mineralised Zones

SECTION 1A

HOLE ID

COORDINATES

DIPAZI- MUTHEOH/RLEastingNorthingDegs.

Degs.

(m)

NXDD046

508,950

7,821,950

-90

0

20.95/1,131

Vanadium Mineralisation (V)

908.56
342.72
3,221.92
V2O5
Depth (m)	(m)	ppm	ppm
7.00-22.00	15.00	783	1,398
23.00-24.00	1.00	123	210
25.42-30.00	4.58	171	305
31.00-34.00	3.00	182	325
36.00-37.00	1.00	130	232
1.00	167	298
2.05	104	186
7.43	711	1,269
6.50	646	1,153

Depth (m) 5.00-10.00 11.00-14.00 15.00-19.39

(m) 5.00 3.00 4.39

ppm 509

192 1,805.00

V2O5

ppm

SECTION 1

HOLE ID

COORDINATES

DIPAZI- MUTHEOH/RL

Vanadium Mineralisation (V)EastingNorthingDegs.

Degs.

(m)

NXDD037

508,700

7,821,750

-90

0

41.95/1133

39.00-40.00

NXDD043

508,750

7,821,800

-90

0

20.95/1132

6.95-9.00

12.00-19.43

NXDD041

508,800

7,821,850

-90

0

11.95/1133

3.20-9.70

SECTION 2

HOLE ID	COORDINATES		DIP	AZI- MUTH	EOH/RL	Vanadium Mineralisation (V)			V2O5
Easting	Northing	Degs.	Degs.	(m)	Depth (m)	(m)	ppm	ppm
NXDD036	508750	7,821,700	-90	0	50.95/1133	34.00-36.00	2.00	165	295
38.00-39.00	1.00	486	867
41.07-42.00	0.93	498	889
49.00-49.64	0.64	968	1,728