Myanmar Metals Limited (ASX:MYL) has revised the indicated and inferred mineral estimate for its Bawdwin Project in Myanmar, posting an increase of 50%.
Completed by CSA Global and reported under the guidelines of the JORC Code 2012 edition, the new estimate amounts to 37.2 million tonnes at 4.3% lead, 114 g/t silver, 2.4% zinc and 0.2% copper.
The resource is 12.4 million tonnes over the prior indicated mineral resource estimate.
“Among the very best polymetallic mineral provinces”
Myanmar Metals chief executive officer John Lamb said: “Bawdwin continues to grow, not only in resource tonnes but in stature as a globally significant source of silver and base metals for the remainder of this century.
“Now standing at over 94 million tonnes, Bawdwin ranks among the very best polymetallic mineral provinces in history, with its exploration potential still to be fully realised.
“The late 2018 drilling campaign that underpins this update was confined to the area of the planned China Pit and aimed to improve our understanding and tighten up our resource modelling parameters as well as increase drill density and confidence in the vicinity of the pit.”
READ: Myanmar Metals identifies new base and precious metals target at Bawdwin project
The updated global indicated and inferred mineral resource estimate records at 94.2 million tonnes at 4.2% lead, 107 g/t silver, 2.1% zinc and 0.2% copper.
High-grade core mineralisation is largely unchanged at 45 million tonnes at 7.6% lead, 176 g/t silver, 3.1% zinc and 0.3% copper.
Importantly, 40% or 18.1 million tonnes of the high-grade core is now in the indicated category, providing increased confidence on this critical part of the deposit.
50% gain in indicated resource
Lamb added: “The Bawdwin joint venture has been rewarded for this work by a stunning 50% gain in indicated resource to 37 million tonnes – bigger than the total resource of many base metal deposits.
“The portion of the high-grade core in the indicated category has now risen to 40% while 12 million tonnes of new lower-grade halo mineralisation was added in and around the planned China Pit.”
- Jessica Cummins