John Lamb

Perth-based Myanmar Metals is working hard to create a new chapter in the life of one of the worlds most fabled lead-zinc mines, the Bawdwin deposit in northeast Myanmar, where drilling began this week. A 5,000-metre drilling program is now underway to boost confidence in an already impressive estimate for the potentially world class lead/zinc resource.

An exploration review of the lease containing Myanmar Metals’ historic zinc-lead-copper mine near the Chinese border has confirmed a number of remarkable opportunities, including at least 30 gossan outcrops with similarities to the original gossans above the known lodes. The report comes just before Myanmar releases first assays from a maiden drilling program at the project.

New studies at Myanmar Metals’ remarkable Bawdwin deposit in Myanmar, already ranked as one of the world’s best lead-zinc-silver deposits, have revealed a high-grade copper zone with almost 120,000 tonnes of the red metal in-situ. The studies have shown a new copper-rich resource of 3.4 Mt @ 3.12% copper, based largely on historical data and raises hopes of substantial additional discoveries from modern exploration.

Myanmar Metals has announced some spectacular high grade base metal, silver and cobalt assays from its first drilling program at the world class Bawdwin deposit in Myanmar. Results include 46 metres grading 9.7% lead and 116g/t silver from the base of the historic open pit and 19 metres @ 6.6% lead, 187g/t silver, 0.5% copper and 0.11% cobalt from a depth of just 3 metres.

Myanmar Metals has locked in a major Myanmar based industrial company to invest in its large, Bawdwin polymetallic zinc project in that country, potentially de-risking the venture. East Asia Power Company will acquire a 24.5% share of the project, by reimbursing Myanmar’s costs on a pro-rata basis to date and into the future. East Asia Power operate the Lashio zinc refinery and several mines in Myanmar.

Myanmar Metals has hit a 23m drill intersection in Myanmar that is brimming with lead, zinc, copper and silver with excellent grades. The company is now compiling its highly anticipated maiden JORC- resource for the project. Last week the company received Government advice allowing it to proceed with the exercise of the Bawdwin option, where it will acquire 85% of the project.

Myanmar Metals has updated its mineral resource estimate for the Bawdwin polymetallic deposit in central Myanmar. The new resource is 82 million tonnes grading 4.7% lead, 2.4% zinc, 0.2% copper and 119g/t silver. The company will use the resource estimate to complete an updated scoping study for the project. Myanmar recently reported it will exercise its USD$14m option over the Bawdwin project to secure its 85% stake.

Myanmar Metals has announced an alliance with Chinese owned Perilya Limited to accelerate the development of its Bawdwin polymetallic deposit in Myanmar. The deal with Perilya and another with major shareholder Mark Creasy raised A$19.1m, which fully funds the Bawdwin option, granting Myanmar 51% project ownership. The company will raise up to A$35m for the project.

Myanmar Metals has increased the “indicated” status of its mineral resource at the Bawdwin polymetallic deposit in central Myanmar by 23%. The indicated part of the resource now sits at 24.8Mt @ 5.1% lead, 2.8% zinc, 0.2% copper and 134g/t silver. Myanmar is now focused on completing a Prefeasibility Study and is also planning to drill away from the main China lode.

Myanmar Metals has identified distinct zones of unexpected cobalt, nickel and copper mineralisation at its Bawdwin deposit in central Myanmar by reassessing drill sample assay data returned over the past 12 months. Best results include a 27m intersection grading 0.16% cobalt, 0.84% copper and 1.74% lead from 164m. This included 5.5m @ 0.39% cobalt, 3.25% copper, 116g/t silver and 1.03% nickel.

Myanmar Metals has completed its scoping study for the Bawdwin base metal project in central Myanmar, saying that it will redevelop the historical mine, starting with a low cost, low strip ratio cutback of the high grade China Lode over a 13-year initial mine life, which will accelerate its cash flow position. The milestone precedes a PFS due in early 2019, along with a maiden ore reserve estimate.

Myanmar Metals has delineated strong indications of potential shallow conductive base metal sulphide mineralisation at the prospective ER Valley exploration target area, just southeast of its flagship Bawdwin multi-commodity resource in Myanmar. The area has numerous artisanal workings and anomalous zinc, lead and silver assay being recorded from historical diamond drilling and sludge samples taken from horizonal adits. Elevated copper, cobalt and nickel values have also been recorded.

Myanmar Metals has delineated significant extensions to the China Lode during resource development drilling at its Bawdwin base metal project in central Myanmar. The work is targeting areas outside of the existing mineral resources and those resources with lower confidence inferred status. Results included 32m @ 4.2% lead, 0.9% zinc and 91g/t silver from 81m down-hole that falls outside the current resource, but inside the optimised open pit shell.

Myanmar Metals has delineated extensions to its new Western hanging wall Lode during resource development drilling that targeted areas outside of the existing mineral resources at its Bawdwin base metals project in Myanmar. This extends the strike of the lode to over 250 metres, with exceptional intersections up to 24m grading 2.2% lead and 0.9% zinc from 25m down-hole, including 6m @ 5.3% lead and 2% zinc.

Myanmar Metals’ drill campaign at its Bawdwin base metals project in Myanmar, has intersected high grade mineralisation of up to 45m @ 6.7% lead, 5.6% zinc and 113g/t silver from 76m down-hole in an area previously considered to be waste. The results could significantly add to the Bawdwin resource estimates and the economics of the China Pit pre-feasibility study, both of which are expected in early 2019.

Myanmar Metals’ extraordinary base metals play in Myanmar just got a little more extraordinary with the discovery of the Yegon Ridge lode that could reduce the already low strip ratio in the China Pit scoping study and significantly improve the project economics. The new find continues the company’s ongoing success in finding high grade mineralisation in areas that were too difficult to access for historical miners.