Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Myanmar Metals (ASX:MYL) will commence an exploration drilling program at the Bawdwin joint venture project in the new year
  • The drilling will test continuity of high-grade copper mineralisation from a previous discovery hole
  • The program will include a total of 10 to 15 holes and be used for a Mineral Resource estimate in the ER Valley
  • Myanmar Metals hold a majority interest in the joint venture project in Myanmar’s Shan State
  • Shares in Myanmar Metals are trading steadily for 3.7 cents apiece

Myanmar Metals (ASX:MYL) will commence an exploration drilling program at the Bawdwin joint venture project in the new year.

The drilling will test continuity of high-grade copper mineralisation, returned from a discovery hole earlier this year.

Myanmar Metals Chairman and CEO John Lamb said promising surveys led to the new drilling campaign.

“We are all excited that ER Valley drilling will be kicking off soon. The geophysical surveys which led to the ER Valley discovery hole BWDD023 show plenty of strike length for us to target in a southerly orientation.”

“ER Valley has the potential to deliver a step change to the company by targeting high grade copper mineralisation which could underpin expansion opportunities at Bawdwin,” he said.

The BWDD023 hole returned 13 metres at 5.5 per cent copper, 79 grams per tonne gold, 0.3 per cent cobalt and 0.5 per cent nickel from 156 metres.

Site preparation for the ER Valley drilling program will commence in early January. The program will include 10 to 15 holes and drilling of approximately 2500 metres.

Myanmar Metals plans for the results to help establish a Mineral Resource estimate for the ER Valley lode.

The Bawdwin Project

Myanmar Metals holds a 51 per cent participating interest in the Bawdwin Project. Joint venture partners Win Myint Mo Industries and EAP Global each hold 24.5 per cent.

The Pre-Feasibility Study for the starter-pit at Bawdwin was completed in May 2019, following scoping studies in 2017 and 2018.

Shares in Myanmar Metals are trading steadily for 3.7 cents apiece.

MYL by the numbers
More From The Market Herald

" Southern Hemisphere (ASX:SUH) commences drill program at Llahuin and Colina2

Southern Hemisphere Mining (ASX:SUH) commences diamond drilling at its Llahuin copper-gold moly project and Colina2 gold…

" OzAurum Resources (ASX:OZM) hits shallow paleochannel gold at Mulgabbie North, WA

OzAurum Resources (ASX:OZM) has hit shallow high-grade gold at its Mulgabbie North project near Kalgoorlie in…

" Resource Mining Corporation (ASX:RMI) raises capital for Kabulanywele and seeks to clear debt

Resource Mining Corporation (ASX:RMC) undertakes capital raise to fund exploration at its Kabulanywele Nickel Project in…

" Indiana Resources (ASX:IDA) identifies new drill targets at Central Gawler

Indiana Resources (ASX:IDA) identifies new drill targets at its Central Gawler gold project in South Australia.