Myanmar Metals Ltd (ASX:MYL) has increased the indicated base metals resource by 23% at its Bawdwin project in Myanmar following completion of the 2018 drilling program.
The indicated mineral resource estimate now stands at 24.8 million tonnes at 5.1% lead, 134 g/t silver, 2.8% zinc and 0.2% copper.
Including the inferred resource, the total resource estimate is now 82 million tonnes at 4.8% lead, 119 g/t silver, 2.4% zinc and 0.2% copper.
This resource was calculated with a 0.5% lead cut-off above 750 metres RL and 2% lead below 750 metres RL.
New drilling to define copper-cobalt-nickel mineralisation
The updated estimate utilises final weathering surfaces and the last two diamond drill holes from the 2018 drilling program.
These holes were drilled to depths of 222.5 and 172.8 metres, the first of which intersected a 37-metre downhole width of mineralisation with elevated copper-cobalt-nickel mineralisation.
Based on the received results, Myanmar is planning further geophysical and drilling programs to further upgrade the resource and explore identified targets.
Focus on PFS
The company’s primary focus is now the completion of a pre-feasibility study.
Myanmar Metals executive chairman John Lamb expressed enthusiasm for the resource upgrade.
“Our indicated mineral resource estimate published on May 21 was already larger than the total resource of many base-metal development projects in the world.
“To achieve an increase of close to one quarter is a boost to an already impressive indicated mineral resource.
“Our drilling focus will shift to the Shan and Meingtha lodes along strike from the main China lode in the coming months as we move quickly down the feasibility path,” Lamb said.
Myanmar holds a majority 51% interest in the Bawdwin project in joint venture with East Asia Power and concession holder Win Myint Mo.
The Bawdwin mine was a globally significant lead, zinc and silver mine in the 1920s and 30s.
Large-scale production ceased during World War II and through a combination of political, technical and economic factors, the mine never returned to pre-war levels.
While some targets have been drilled occasionally and sparsely, no modern exploration has been conducted on the site.