- Drilling has begun at Myanmar Metal’s (MYL) Bawdwin to test high priority exploration targets, with the first hole at Chin South copper target in progress
- Myanmar Metals has a majority 51 per cent participating interest in the Bawdwin Project in joint venture with its two local partners, Win Myint Mo Industries Co and EAP Global Co
- Up to four holes are planned at Chin South, with the aim of identifying copper mineralisation
- A review of mapping shows a possible fault offset continuation of the lode 17 metres to the southeast, where a single drive intersected 4.5 metres of disseminated copper mineralisation averaging 1.8 per cent copper
- Myanmar Metals is down 5.56 per cent, trading at 8.5 cents
Myanmar Metals (MYL) has begun exploration at Bawdwin with the drilling of the first hole on Chin South.
Myanmar Metals is an explorer and mine developer with a majority 51 per cent participating interest in the Bawdwin Project in joint venture with its two local partners, Win Myint Mo Industries Co and EAP Global Co.
Drilling has now begun following the compulsory COVID-19 quarantine of the drilling crew at the hole, which is adjacent to the historically mined, copper-bearing Chin Lode.
Up to four holes are planned at Chin South, with the aim of identifying copper mineralisation.
The historic Chin Lode was mined first between 1936 and 1941 and is estimated to have produced approximately 20,500 tons at 8.41 per cent copper, 1.9 oz/ton silver, until it was reported to have been mined out.
A review of mapping shows a possible fault offset continuation of the lode 17 metres to the southeast, where a single drive intersected 4.5 metres of disseminated copper mineralisation averaging 1.8 per cent copper. Two holes are planned to test this possible extension.
South of the Chin Lode, quartz porphyry and tuff subcrop show elevated copper in soil anomalies between 300 and 800 parts per million. This indicates potential for the Chin style mineralisation to continue further to the south.
Geophysical data shows a weak conductivity trend near the southern edge of Chin Lode, and an offset anomaly and possible extension to the southwest of Gold Hole Valley, which is associated with elevated copper-in-soil anomalies.
“This is an impactful exploration drilling program. Its scope ranges from ‘new frontier’ drilling at Mt Teddy to following up a promising copper target at Chin South to in-fill drilling at ER Valley, which will add to our understanding of the Bawdwin geology and could in time add material mineral resources to Bawdwin,” said Myanmar Metals Chairman and CEO John Lamb.
Myanmar Metals is down 5.56 per cent, trading at 8.5 cents at 3:53 pm AEDT.