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Myanmar Metals identifies new base and precious metals target at Bawdwin project

A deep pole-dipole geophysical survey has confirmed large chargability anomalies and correlate with other known mineralisation at the project.

Myanmar Metals Ltd (ASX:MYL) has discovered a new base and precious metals target, Yegon Deeps, using results from a survey conducted at the Bawdwin project in Myanmar.

Results from the five pole-dipole (DPIP) survey traverses correlate very well with known mineralisation in the China, Shan and Meingtha lodes.

The new, very strong Yegon Deeps chargeability anomaly has been identified over 250 metres and is separate from the recently discovered Yegon Ridge mineralisation.

Last year the PDIP survey traverses were conducted over areas showing anomalous chargeability responses in a previous gradient array IP (GAIP) survey.

The survey was completed over the China and Yegon Ridge lodes which identified a large chargeability anomaly at depth of similar magnitude to the China lode.

High-grade results

Previous drilling testing nearby targets to Yegon Deeps returned strong results, including:

– 17.6 metes at 8% lead, 1.5% zinc and 169 g/t gold from 52.7 metres including 20.8 metres at 9.2%, 3.1% and 185 g/t from 75.2 metres; and

– 50 metres at 2.8% lead from surface and 21 metres at 6.5% lead, 8.3% zinc and 232 g/t gold from 67 metres.

A geotechnical hole (BWDD021) was also drilled from Yegon Ridge to test the west wall rocks of the China Pit, which intersected alteration in the vicinity of the anomaly.

Diamond holes to test Yegon Deeps anomaly are planned for later in the season while assays are pending from two shallow holes drilled into the Yegon Ridge targets north and south of the Yegon Ridge discovery hole.

Plan to further investigate “exciting target”

Myanmar Metals chairman and CEO John Lamb said: “It is early days but Yegon Deeps has potential to be another significant mineralised zone within the Bawdwin mineral province.

“We will access the drilling results from BWDD021 and plan to investigate this exciting target further, however, in the meantime exploration drilling in the highly prospective ER Valley is underway.

“Ground conditions for drilling are challenging but our team is making good progress.”

“Continue to be amazed”

Lamb also said: “I continue to be amazed by the number, scale and grade of the many deposits in the Bawdwin mineral field and I am delighted to see that the strategic mine plan developed by the joint venture’s project team accommodates our new discoveries very well.”

SOURCE: PROACTIVE INVESTOR

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