Myanmar Metals has reported a 50 per cent increase in Indicated and Inferred Mineral Resource estimate for Bawdwin.
|Looking south showing track development along the Meingtha Ridge towards ER Valley IP anomaly for drill access.|
The Mineral Resource estimate, which includes assays from drill holes completed in the recent program prior to the cut-off date in mid-December 2018, has been upgraded to 37.2 Mt at 4.3 per cent Pb, 114g/t Ag, 2.4 per cent Zn and 0.2 per cent Cu (0.5 per cent Pb cut-off above 750m RL, 2 per cent Pb below 750m RL) – an increase of 12.4 Mt over the prior Indicated Mineral Resource estimate.
The company reports that drilling has continued since this time and results from these holes, including the recent Yegon Ridge discovery, will be used to update the resource for the Definitive Feasibility Study (DFS) due at the end of 2019.
Myanmar Metals Executive Chairman and CEO, John Lamb applauds Bawdwin’s growth, not only in resource tonnes but in stature as a globally significant source of silver and base metals for the remainder of this century.
“Now standing at over 94 million tonnes, Bawdwin ranks among the very best polymetallic mineral provinces in history, with its exploration potential still to be fully realised,” said Mr Lamb.
The Mineral Resource estimate has been reported in Fresh, Transitional and Deep Oxide zones modelled using a combination of multi-element geochemical data and geological observations. Drill hole logging indicates that the Transitional material is characterised by partial oxidation along fractures and fault zones.
Metallurgical test work on transitional material has given good recoveries of bulk lead and silver, with lower recovery of zinc where zinc oxide is present. Thinner Deep Oxide zones have been identified as being moderately oxidized along steeply dipping fault structures, showing similar recoveries to Transitional material. Metallurgical testing is continuing to further refine planned treatment methods.
The China Western Hangingwall Lode, discovered in November 2018, has now been defined for over 300 metre along strike with much of the mineralisation being hosted within the China Pit Shell in a region previously modelled as waste in the 2018 pit optimisation.
“The Bawdwin Joint Venture has been rewarded for this work by a stunning 50 per cent gain in Indicated resource to 37 million tonnes – bigger than the total resource of many base metal deposits. The portion of the high-grade core in the indicated category has now risen to 40 per cent, while 12 million tonnes of new lower-grade halo mineralisation was added in and around the planned China Pit,” commented Mr Lamb.
BWRC061 was drilled up-dip of discovery hole BWRC027 to test continuity of the higher-grade intersections, with the new hole confirming the high-grade lodes and intersecting another high-grade zone further west.
Assays from BWRC061 include 30m at 2.2 per cent Pb, 1.3 per cent Zn and 85g/t Ag from surface, 16m at 12.8 per cent Pb, 7.4 per cent Zn and 324g/t Ag from 34m, 36m at 4.8 per cent Pb, 1.7 per cent Zn and 105g/t Ag from 54m and 16m @ 2.6 per cent Pb from 94m.
New drilling conducted in the Meingtha Gap area has intersected mineralisation 80 metres west of the new resource model. Results from BWRC063 are important for two reasons: providing evidence of mineralised zones beneath the surface oxidised/ depleted zone, and secondly, providing evidence that the mineralised zone in the Meingtha Gap area could be nearly twice as wide as currently modelled.
Myanmar Metals Executive Chairman and CEO John Lamb viewed these drilling results as outstanding.
|Dipole chargeability inversion model cross section showing good correlation of chargeability shells and the China Lode mineralisation.|