Myanmar Metals Limited (ASX:MYL) intends to resume drilling its Bawdwin silver-lead-zinc endowment in Myanmar this quarter, with its chairman highlighting the company has a feasibility study in mind.
The company hopes that the next phase of drilling will upgrade further inferred mineral resources to the indicated category.
READ: Myanmar Metals increases Bawdwin indicated base metals resource by 23%
Two weeks ago Myanmar Metals increased its indicated mineral resources at the majority-owned project by 23% to 24.8 million tonnes grading 5.1% lead, 134 g/t silver, 2.8% zinc and 0.2% copper.
The company expects to detect copper-cobalt-nickel to add to its and lead-zinc-silver bounty.
Myanmar Metals executive chairman and CEO John Lamb said: “We have an excellent opportunity to target and define a significant copper-cobalt-nickel resource at Bawdwin.
“On lead content alone Bawdwin is a world-class deposit.
“The inclusion of zinc and silver and now copper-cobalt-nickel to the mineralised system amplifies this potential.”
Myanmar Metals holds a majority 51% stake in the northern Shan state project and has an option to grab up to 85% from the vendor and tenement holder Win Myint Mo.
READ: Myanmar Metals progresses funding strategy to acquire Bawdwin mine
Myanmar Metals plans to increase drilling density at the historical mine site to move more resources into the indicated category.
The company will then produce a resource statement with updated copper resource estimates and new cobalt and nickel inclusions.
Lamb said in the coming months the company and its partners would look at the largely undrilled Shan and Meingtha along strike from the main China lode as they “move quickly down the feasibility path”.
Including the inferred resource, the total Bawdwin resource estimate is 82 million tonnes at 4.8% lead, 119 g/t silver, 2.4% zinc and 0.2% copper.