- Following a recent increase in silver prices, Mount Burgess Mining (MTB) has reviewed two high-grade silver zones at the Kihabe deposit in Botswana
- Silver prices currently stand at US$26.65 (around A$37.19) per ounce which is more than a US$3 increase from a month ago
- These two high-grade zones were identified via previous drilling programs completed by the company
- The aim of this review was to determine the potential for further silver mineralisation to be located within these zones
- Mount Burgess will now drill extra holes in neighbouring areas which have only been previously tested with one hole each
- Company shares are up a staggering 77.8 per cent and are currently trading for 1.6 cents
Following a recent increase in silver prices, Mount Burgess Mining (MTB) has reviewed two high-grade silver zones at the Kihabe deposit.
Silver prices currently stand at US$26.65 (around A$37.19) per ounce which is more than a US$3 increase from a month ago.
These zones were identified via previous drilling programs completed by Mount Burgess with results having already been released to the ASX.
The Kihabe deposit is located in Western Ngamiland, Botswana, around 700 kilometres northwest of the capital, Gaborone.
Additionally, it has a JORC 2004 compliant resource of 14.4 million tonnes at a zinc-lead-silver equivalent grade of 2.84 per cent for 259,000 tonnes of contained zinc and 114,000 tonnes of contained lead.
The aim of this review was to determine the potential for further silver mineralisation to be located within these zones.
Significant results from these zones include 448.2g/t silver from 98 metres, 318g/t silver from 73 metres, and 227.83g/t silver from 64 metres.
Mount Burgess will now drill extra holes in neighbouring areas which have only been previously tested with one hole each.
Company shares are up a staggering 77.8 per cent and are currently trading for 1.6 cents at 10:33 am AEST.