Photo by: Bloomberg
PERTH (miningweekly.com) – The share price of junior Mount Burgess Mining skyrocketed by nearly 72% on Friday as the company revealed plans to conduct an in-depth review of the vanadium content of its Kihabe project, in Botswana.
Mount Burgess told shareholders that with the recent increase in the vanadium price, and its importance as a battery metal, combined with confirmatory results from the recent diamond core drilling at the Kihabe deposit, the company has engaged a consultant metallurgist to design and implement a metallurgical testwork programme at the project area.
Geological modelling is currently under way to assess the grade and continuity of four identified vanadium domains in relation to the existing resource area.
Mount Burgess shares were trading at a high of 1.4c a share on Friday, up from a low of 0.9c a share.