Join our daily newsletter At The Bell to receive exclusive market insights
- Myanmar Metals (ASX:MYL) will commence an exploration drilling program at the Bawdwin joint venture project in the new year
- The drilling will test continuity of high-grade copper mineralisation from a previous discovery hole
- The program will include a total of 10 to 15 holes and be used for a Mineral Resource estimate in the ER Valley
- Myanmar Metals hold a majority interest in the joint venture project in Myanmar’s Shan State
- Shares in Myanmar Metals are trading steadily for 3.7 cents apiece
Myanmar Metals (ASX:MYL) will commence an exploration drilling program at the Bawdwin joint venture project in the new year.
The drilling will test continuity of high-grade copper mineralisation, returned from a discovery hole earlier this year.
Myanmar Metals Chairman and CEO John Lamb said promising surveys led to the new drilling campaign.
“We are all excited that ER Valley drilling will be kicking off soon. The geophysical surveys which led to the ER Valley discovery hole BWDD023 show plenty of strike length for us to target in a southerly orientation.”
“ER Valley has the potential to deliver a step change to the company by targeting high grade copper mineralisation which could underpin expansion opportunities at Bawdwin,” he said.
The BWDD023 hole returned 13 metres at 5.5 per cent copper, 79 grams per tonne gold, 0.3 per cent cobalt and 0.5 per cent nickel from 156 metres.
Site preparation for the ER Valley drilling program will commence in early January. The program will include 10 to 15 holes and drilling of approximately 2500 metres.
Myanmar Metals plans for the results to help establish a Mineral Resource estimate for the ER Valley lode.
The Bawdwin Project
Myanmar Metals holds a 51 per cent participating interest in the Bawdwin Project. Joint venture partners Win Myint Mo Industries and EAP Global each hold 24.5 per cent.
The Pre-Feasibility Study for the starter-pit at Bawdwin was completed in May 2019, following scoping studies in 2017 and 2018.
Shares in Myanmar Metals are trading steadily for 3.7 cents apiece.
