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Mount Burgess Mining on lookout for strategic partner for Botswana project


Mount Burgess Mining (ASX: MTB) is on the lookout for a strategic partner for its Kihabe and Nxuu Zinc-Lead-Silver Project in Botswana and has appointed PCF Capital Group to assist.

Importantly, interest is likely to be strong given the outlook for zinc and upcoming shortage of new mine supply.

Mount Burgess has revealed it has received an increasing number of enquiries in recent months.

Western Australia-based investment banking firm PCF Capital Group recently advised Shandong Gold on its $225 million investment in Focus Minerals (ASX: FML), and Kagara (ASX: KZL) on the $40 million sale of the Central Project to Chinese and Australian interests.

Mount Burgess is seeking a strategic partner to acquire an interest in the Kihabe and Nxuu Project and to fund a Feasibility Study.

Kihabe and Nxuu, which are contained within a 3,000 square kilometre neo Proterozoic belt, are near surface SEDEX style deposits which have demonstrated high metallurgical recoveries.

The deposits host combined JORC Indicated and Inferred Resources of 25.3 million tonnes at 3% zinc equivalent and have the potential to be open cut mining operations.

The Kihabe deposit is open at depth.

Recent geochemical soil sampling has generated seven new zinc-lead anomalies and one copper-cobalt anomaly, all within an 8 kilometre radius of the two main deposits.

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