Myanmar Metals has reported a 50 per cent increase in Indicated and Inferred Mineral Resource estimate for Bawdwin.
|Overlooking the historic China Pit. Image courtesy ©Myanmar Resources|
The Mineral Resource estimate, which includes assays from drill holes completed in the recent program prior to the cut-off date in mid-December 2018, has been upgraded to 37.2 Mt at 4.3%Pb, 114g/t Ag, 2.4% Zn and 0.2% Cu (0.5% Pb cut-off above 750m RL, 2%Pb below 750m RL) – an increase of 12.4 Mt over the prior Indicated Mineral Resource estimate.
The company reports that drilling has continued since this time and results from these holes, including the recent Yegon Ridge discovery, will be used to update the resource for the Definitive Feasibility Study (DFS) due at the end of 2019.
Myanmar Metals Executive Chairman and CEO, John Lamb applauds Bawdwin’s growth, 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,” said Mr Lamb.
The Mineral Resource estimate has been reported in Fresh, Transitional and Deep Oxide zones modelled using a combination of multi-element geochemical data and geological observations. Drill hole logging indicates that the Transitional material is characterised by partial oxidation along fractures and fault zones.
Metallurgical test work on transitional material has given good recoveries of bulk lead and silver, with lower recovery of zinc where zinc oxide is present. Thinner Deep Oxide zones have been identified as being moderately oxidized along steeply dipping fault structures, showing similar recoveries to Transitional material. Metallurgical testing is continuing to further refine planned treatment methods.
The late-2018 drilling campaign that underpins this update was confined to the area of the planned China Pit. It aims to improve Myanmar’s understanding, tighten the company’s resource modelling parameters and to increase drill density and confidence in the vicinity of the pit.
“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,” commented Mr Lamb.