Mount Burgess Mining's 61.8% iron intersection at Tsumkwe could be just the tip of the iceberg

Mount Burgess Mining (ASX: MTB) has delivered some stellar initial results from the Tsumkwe base metals project in Namibia.

In just the second hole, XRF analytical results contained up to 61.79% iron, with the hole drilled in to a strong magnetic high anomaly.

Where the vast potential comes from is that ten of twelve holes drilled into Target 1 have been logged as containing significant quantities of magnetite.

Eight of these holes are awaiting assaying. All holes drilled into Targets 2, 3 and 4 contained magnetite and are awaiting assaying.

Highlights from NAM917 include:

- 3 metres at 49.21%, DTR 28.60%, Conc Fe 66.15%;
- 2 metres at 36.72%, DTR 21.60%, Conc Fe 62.00%;
- 10 metres at 49.22%, DTR 66.40%, Conc Fe 68.65%; and
- 14 metres at 50.94%, DTR 69.00%, Conc Fe 67.87%.

Highlights from NAM927 include:

- 5 metres at 45.94%, DTR 19.10%, Conc Fe 68.42%;
- 3 metres at 52.31%, DTR 72.60%, Conc Fe 67.53%; and
- 2 metres at 49.82%, DTR 51.50%, Conc Fe 69.80%.

The DTR results were achieved from a grind size of 90% passing 75 microns that is comparable to the particle size as estimated by mineralogy.

Mount Burgess said that with the confirmation of the above results and the knowledge that this southern linear magnetic high anomaly hosts hematite / magnetite breccia, the company believes that this structure and the parallel structure to the north have the potential to host a worthwhile iron ore target.


Magnetite identified at depth

Both holes NAM917 and NAM927 were logged as intersecting gossans from around 11 metres to 17 metres, which indicates the probable presence of the non magnetic iron minerals hematite and goethite.

What is interesting is the changes at depth, with initial thin sections of petrographic analysis of drill chips from 45 metres in drill hole NAM927 showing that at that depth the dominant iron mineral is magnetite.

The magnetite particle sizes range from 25 microns to in excess of 100 microns and are hosted within a schist.

Importantly- some of the geochemistry, particularly the purity of the magnetite, is more compatible with a sedimentary origin.

Mount Burgess said that this mineralogical work suggests that a sedimentary iron sequence that has been faulted is a more probable explanation than the previously interpreted pipe.

Adding a further level of interest to the hole, is that from 37 metres to 81 metres gallium grades averaged 17.11 grams per tonne (g/t) over the 45 metre intersection with grades as high as 35g/t.


Current and Proposed Exploration

An initial drilling program is being designed to test these linear magnetic anomalies in Namibia.

Meanwhile, 25 kilometres to the east, the company is continuing with soil geochemical sampling and on-site XRF analysis at its Kihabe base metals project across the border in Botswana.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/20414/mount-burgess-minings-618-iron-intersection-at-tsumkwe-could-be-just-the-tip-of-the-iceberg--20414.html