Myanmar Metals (ASX:MYL) - Executive Chairman & CEO, John Lamb
Executive Chairman & CEO, John Lamb
Source: Business News
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  • Explorer and mine developer, Myanmar Metals (MYL) has received results from eight drill holes in the ER Valley
  • The exploration drilling program was designed to follow up on the April 2019 drilling
  • Drilling results have successfully extended the strike length at the project to over 180 metres
  • Copper and cobalt mineralisation was intercepted in multiple holes at excellent grades, across varying depths and widths
  • CEO John Lamb said the most exciting results was the high-grade lead mineralisation, south of the Meingtha Lode
  • Myanmar remains steady on the market today, trading for 5.4 cents each

Explorer and mine developer, Myanmar Metals (MYL) has received the results from eight drill holes in the ER Valley.

The exploration drilling program was designed to follow up on the April 2019 drilling hole, where BWDD023 intercepted 13 metres at 5.5 per cent of copper, 79g/t of gold, 0.3 per cent cobalt and 0.5 per cent nickel from 156 metres.

The program was stopped earlier due to cost reduction measures from COVID-19, however, the company managed to drill eight holes, which covered a total of 1240 metres.

Drilling results have successfully extended the strike length at the project to over 180 metres. Copper and cobalt mineralisation was intercepted in multiple holes at excellent grades, across varying depths and widths.

Results include seven metres at 0.47 per cent of cobalt, 1.2 per cent nickel, and 0.2 per cent copper from 50 metres.

“Despite stopping the program early due to COVID-19, we are delighted with the ER Valley drilling results which are distinguished by excellent cobalt grades,” CEO John Lamb said.

“The eight holes completed provide us with a much greater understanding of structural geology and the orientation of the mineralisation,” he added.

John said the most exciting results was the high-grade lead mineralisation, south of the Meingtha Lode.

“Results from hole BWRC135 support anomalous rock chip samples and geophysical data with the discovery of a new, high-grade lead zone along strike from Meingtha,” he explained.

“Geophysical anomalies continue a further 450 metres along strike to Pangyun Junction. This discovery increases our confidence that we will encounter more significant mineralisation along strike,” he added.

This new zone of lead supports the geological interpretation of the mineralisation, near the Meingtha Lode.

Myanmar remains steady on the market today, trading for 5.4 cents each at 11:34 am AEST.

MYL by the numbers
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