Kihabe Zinc / L e ad Pr oje c t 2008
Company De tails ACN: 009 067 476 L iste d o n the Austra lia n Sto c k E xc ha ng e sinc e 1985 L isting Co de MT B L o c a l Asse t Sta tus in Bo tswa na g ra nte d o n 31 Oc to b e r 2007 I ssue d Sha re Ca pita l: 300,257,000 sha re s Stre e t Addre ss: L e ve l 4, 109 St Ge o rg e s T e rra c e Pe rth, We ste rn Austra lia 6000 Po sta l Addre ss: PO Bo x Z5301 St Ge o rg e s T e rra c e Pe rth, We ste rn Austra lia 6831 T e l: +61 8 9322 6311 F a x: +61 8 9322 4607 E ma il: mtb @ mo untb urge ss.c o m We b site : www.mo untb urg e ss.c o m
F or war d L ooking State me nt T his pre se nta tio n c o nta ins fo rwa rd lo o king sta te me nts in re spe c t o f the pro je c ts b e ing re po rte d o n b y the Co mpa ny. F o rwa rd lo o king sta te me nts a re b a se d o n b e lie fs, o pinio ns, a sse ssme nts a nd e stima te s b a se d o n fa c ts a nd info rma tio n a va ila b le to ma na g e me nt a nd/ o r pro fe ssio na l c o nsulta nts a t the time the y a re fo rme d o r ma de a nd a re , in the o pinio n o f ma na g e me nt a nd/ o r c o nsulta nts, a pplie d a s re a so na b ly a nd re spo nsib ly a s po ssib le a s a t the time tha t the y a re a pplie d. Any sta te me nts in re spe c t o f mine ra l re se rve s, re so urc e s a nd zo ne s o f mine ra lisa tio n ma y a lso b e de e me d to b e fo rwa rd lo o king sta te me nts in tha t the y c o nta in e stima te s whic h the Co mpa ny b e lie ve s ha ve b e e n b a se d o n re a so na b ly pro b a b le a ssumptio ns in re spe c t o f mine ra lisa tio n tha t ha s b e e n fo und. E xplo ra tio n ta rg e ts a re c o nc e ptua l in na ture a nd a re fo rme d fro m pro je c tio n o f the kno wn re so urc e dime nsio ns a lo ng strike . T he q ua ntity a nd g ra de o f a n e xplo ra tio n ta rg e t is insuffic ie nt to de fine a Mine ra l Re so urc e . F o rwa rd lo o king sta te me nts a re no t sta te me nts o f histo ric a l fa c t, the y a re b a se d o n re a so na b le pro je c tio ns a nd c a lc ula tio ns, the ultima te re sults o r o utc o me s o f whic h ma y diffe r ma te ria lly fro m tho se de sc rib e d o r inc o rpo ra te d in the fo rwa rd lo o king sta te me nts. Suc h diffe re nc e s o r c ha ng e s in c irc umsta nc e s to tho se de sc rib e d o r inc o rpo ra te d in the fo rwa rd lo o king sta te me nts ma y a rise a s a c o nse q ue nc e o f the va rie ty o f risks, unc e rta intie s a nd o the r fa c to rs re la tive to the e xplo ra tio n a nd mining industry a nd the pa rtic ula r pro pe rtie s in whic h the Co mpa ny ha s a n inte re st. Suc h risks, unc e rta intie s a nd o the r fa c to rs c o uld inc lude b ut wo uld no t ne c e ssa rily b e limite d to fluc tua tio ns in me ta ls a nd mine ra ls pric e s, fluc tua tio ns in ra te s o f e xc ha ng e , c ha ng e s in g o ve rnme nt po lic y a nd po litic a l insta b ility in the c o untrie s in whic h the Co mpa ny o pe ra te s.
Pr oje c t L oc ations 500km
Sate llite Image r y – Pr ote r ozoic Be lt L andsat Aste r 432 N EPL2012 EPL2818 PL69/2003 EPL2014 EPL3022 Namibia Botswana 10km
Sate llite Image r y L andsat Aste r 432 N 10km
Kihabe Gr id Dr illing 127 RC drill holes (13,323 metres) 41 Diamond core drill holes (5,380 metres)
Kihabe L ongitudinal Se c tion South West North East • L o ng se c tio n sho ws to ta l true thic kne ss o f zo ne s is ~35 to ~75m @ >1% Zn + Pb • Hig he st g ra de s dire c tly c o rre la te to g re a te st thic kne ss o f c o a rse g ra ine d q ua rtzite • T o p 50 me tre s se ve re ly impa c te d b y RC in o xide zo ne ; HQ c o re to impro ve this • Ope n to we st a nd e a st – plung e o f po ds b e c o ming c le a r fo r de pth e xte nsio ns 100m
De posit Ge ology • I ro n-po o r zinc -le a d-c o ppe r sulphide syste m ho ste d within a rko sic q ua rtzite sc hists • Sulphide s b e st de ve lo pe d in c o a rse sa ndsto ne lo b e s/ le nse s • Mine ra lisa tio n fo rms sta c ke d inte r-le a ve d le nse s within q ua rtzite whic h c limb up- se c tio n to wa rd the e a st • T ig ht se dime nta ry c o ntro l o n mine ra lisa tio n • L o w pyrite c o nte nt • >35m true thic kne ss • Plung ing po d ta rg e ts • Ope n a lo ng strike a nd de pth
Kihabe Zinc Re sour c e • Se dime nt ho ste d zinc , le a d a nd silve r re so urc e , with sig nific a nt c o ppe r a nd va na dium c re dits • Curre nt strike le ng th 2.4km, o pe n to the we st; a nd a t de pth • I nitia l RC drille d re so urc e , 11 millio n to nne s g ra ding 2.55% zinc e q uiva le nt with 95% c la ssifie d a s “I ndic a te d” c o mplia nt with JORC Co de , tho ug h b e lie ve d to unde r re po rt g ra de • 5,380m o f dia mo nd c o re drilling no w b e ing use d to upg ra de the re so urc e g ra de • E xte nsio n drilling c urre ntly b e ing c o nduc te d a t K iha b e a nd Nxuu Pro spe c t – c o nc e ptua l hypo the tic a l ta rg e t is >20Mt o f re so urc e s a t a simila r g ra de to a dva nc e to a pre -fe a sib ility study
Inc r e ase in Diamond Cor e Gr ade A c o mpa riso n o f dia mo nd c o re zinc a ssa y re sults with RC zinc a ssa y re sults is summa rise d b e lo w, sho wing the inc re a se in g ra de s re turne d fro m dia mo nd c o re whic h inte rse c te d the sa me mine ra lise d zo ne s pre vio usly inte rse c te d in RC drilling use d fo r the initia l re so ur c e c a lc ula tio n a nd pre vio usly re le a se d to the ma rke t. Results from previous RC Drilling Results from DD DD % Increase o inc) o inc) o inc) Section 9,900mE KRC015 (-60 KRC034 (-60 KDD105 (-60 Zone from 127mRL 28m @ 1.62% Zn 28m @ 1.61% Zn 28m @ 3.24% Zn 101% o inc) o inc) o inc) Section 10,000mE KIH001 (-60 KIH004 (-60 KDD108 (-70 Avg 25% Zone 1 from 60mRL 12m @ 4.31% Zn 12m @ 2.66% Zn 12m @ 4.36% Zn 64% (KIH004) Zone 2 from 102mRL 14m @ 1.75% Zn 14m @ 4.18% Zn 139% o inc) Section 10,200mE KRC019 (-60 KDD110 (Vertical) Zone from 125mRL 13m @ 3.22% Zn 13m @ 4.05% Zn 26% o inc) o inc) Section 11,500mE KRC049 (-60 KRC052 (-60 KDD114 (Vertical) Zone from 60-98mRL 45m @ 2.36% Zn 11m @ 3.54% Zn 50.21% Zone from 98-141mRL 18m @ 2.89% Zn 22.46% 20m @ 2.36% Zn 14m @ 4.15% Zn 75.85% o inc) o inc) Section 11,600mE KRC056 (-60 KDD115 (-60 Zone from 110mRL 13m @ 2.07% Zn 7m @ 2.85% Zn 37.7% o inc) o inc) o inc) Section 11,800mE KRC076 (-60 KRC067 (-60 KDD116 (-60 Zone from 55mRL 32m @ 2.83% Zn 37m @ 2.34% Zn 24m @ 4.37% Zn Avg 70.0% Overall Average RC Results 2.35% Zn DD Results 3.74% Zn ** 59.1% ** Grade of above results ** The above increase in zinc grades from diamond drilling results is indicative only, at this stage.
De ve loping Kihabe T hr e e stage appr oac h • Re -run re so urc e using dia mo nd c o re g ra de s • E xpa nd Re so urc e s: – K iha b e E xte nsio n – Nxuu Pro spe c t – Go ssa n Pro spe c t – Re so urc e ta rg e t, 20 millio n to nne s • E c o no mic a sse ssme nts: – Me ta llurg y – Pit Optimisa tio ns – De skto p sc o ping studie s – Pre -fe a sib ility – Ba nka b le fe a sib ility
Nxuu Pr ospe c t – Ne xt Re sour c e N Kihabe Zinc/Lead Project Nxuu Prospect Composite Cross Section • Sha llo w dish-sha p e d sync line with mine ra lise d q ua rtzite to 40m thic kne ss • Struc ture e sse ntia lly simila r to the 13,350E se c tio n o n K iha b e Antic line • 7km strike fro m Nxuu to the b o rde r ma pp e d • 485 so il sa mple s c o ve ring this strike - pe nding in la b o ra to ry • 2,500m RC drilling b udg e te d to te st fo r mine ra lisa tio n
Nxuu Pr ospe c t – Pr opose d Dr illing
Gossan Anomaly • I n-situ ma ssive zinc -le a d-silve r c a rb o na te g o ssa n re turne d g ra de s in e xc e ss o f 15% Zn a nd 5% Pb plus se ve ra l o unc e s o f Ag • Disc o ntinuo us e xpo sure s a nd lo o se b o ulde rs with e xa mple s in Na mib ia o n sa me strike line • Dia mo nd c o re drilling pla nne d
Gossan Anomaly- Ge oc he m Contour s N So il Ge o c he mistry Sa mple So il Ge o c he mistry Co nto ur 100ppm Zn Drilling to da te So il Ge o c he mistry Co nto ur 500ppm Zn 200m
2008 E xplor ation Campaign • Co mple te the K iha b e E xte nsio n pro g ra m • Co mple te the I nfill Pro g ra m • Drill Go ssa n a nd Nxuu • Drill ta rg e ts in Na mib ia • Re so urc e upda te a t K iha b e pe nding re c e ipt o f re sults • I nve stig a te sa mple c o st sa ving s b y using po rta b le XRF a na lyse r in pla c e o f la b o ra to ry a ssa ying • Adva nc e me ta llurg ic a l te st wo rk • Re inve stig a te e xisting Sc o ping Study
Conc lusions • Hig h pro b a b ility tha t initia l re so urc e g ra de unde r- re po rte d a nd will impro ve with dia mo nd drill a ssa ys • A 20 millio n to nne re so urc e a t K iha b e c o uld le a d to de ve lo pme nt o f an o pe n c ut re so urc e . • Hig h pro b a b ility o f a c hie ving this 20 millio n to nne s re so urc e fro m K iha b e a nd Nxuu • Co ntro l o f this who le Pro te ro zo ic b e lt sho uld se c ure de ve lo pme nt o f future re so urc e s fo r Pro je c t lo ng e vity
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