The Asia Miner

JUL-SEP 2019

The ASIA Miner - Reporting Important Issues to Mining Companies in the Asia Pacific Region

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Page 34 of 59

the asia miner • volume 16 • issue 3 33 FEATURE: Gold Myanmar Metals has reported that the first hole into the Shan North exploraঞon target at the company's Bawdwin Project in Myanmar has confirmed the presence of broad zones of mineralisaঞon. Assay results revealing strong chargeability anomaly idenঞfied in both Gradient Array Induced Polarisaঞon (GAIP) and deeper penetraঞng Pole- Dipole Induced Polarisaঞon (PDIP) surveys, intersected 23.8m at 4.2 per cent Pb from 23 metres, 34 metres at 6.5 per cent Pb from 86 metres and 18 metres at 4.2 per cent Pb from 210m. The drilling results show, once again, that the geophysical surveys undertaken by the Bawdwin Joint Venture (BJV) have successfully idenঞfied mineralisaঞon outside of the current resource model. Encouragingly, the mineralisaঞon appears to extend towards surface and is also open at depth and is expected to be conঞguous with the main Shan Lode to the southeast. An in-fill drilling program has been a key focus of the drilling completed in the year to date. The in-fill program has been designed to upgrade Inferred Mineral Resources and increase the confidence in the resource model, parঞcularly within the Starter Pit. Recent drilling results show mineralisaঞon outside the resource model but within the Starter Pit shell, in areas that were formerly classified as waste material. This newly discovered mineralisaঞon has the potenঞal to enhance the robust economics of the Starter Pit. Holes drilled into the China Western Hangingwall Lode intersected strong mineralisaঞon outside of the current resource model and extended previous intersecঞons further down- dip. BWRC0107 intersected 31 metres at 3.5 per cent Pb from surface, 15 metres at 3.4 per cent Pb from 101 metres and 12 metres at 4.0 per cent Pb and 1.1 per cent Zn from 120 metres. Another hole, BWRC102 was drilled 50 metres to the north also targeঞng the China Western Hangingwall Lode and intersected 21 metres at 2.7 per cent Pb from surface and 32 metres at 6.5 per cent Pb and 1.4 per cent Zn from 34 metres. Drilling in the southeast of the Starter Pit also encountered mineralisaঞon outside the resource model, with BWRC099 intersecঞng 29 Myanmar Metals reports high-grade extension of Shan Lode First core from BWDD034 on Yegon Ridge slope metres at 2.6 per cent Pb from 7 metres and 49 metres at 2.9 per cent Pb from 60 metres. BWRC091 intersected a broad 51 metres intersecঞon of 6.3 per cent Pb, 52g/t Ag and 0.8 per cent Zn from 21 metres, with samples below 58 metres down hole currently outside of the resource model. An updated Mineral Resource esঞmate is currently being undertaken, incorporaঞng results from over 7,000 metres of addiঞonal drilling completed since the last esঞmate was announced in February this year. This new resource esঞmate is planned for compleঞon in August. Myanmar Metals Execuঞve Chairman and CEO John Lamb highlighted that the Company currently has a 100 per cent success rate from target idenঞficaঞon to the discovery of new mineralised zones. "This is quite remarkable. Our exploraঞon methodology has been validated and we believe our four high priority targets which remain untested by drilling have been further de-risked by the discovery of Shan North," said Mr Lamb. "Bawdwin already hosts the world's largest primary lead resource but as drilling advances outside the historical mining envelope we see the potenঞal for material resource growth becoming clear. "These latest results improve density and confidence within the known ore zones, demonstrate extensions in several places and, importantly, show conঞnuity along strike so that Bawdwin is beginning to look like a very large, conঞnuous mineralised trend rather than a series of lenses or lodes. "We are currently in the wet season at Bawdwin which makes drilling on exploraঞon targets outside of the exisঞng pit challenging due to topography and ground condiঞons. In October we will seek to start an intensive exploraঞon drilling program but the focus for the next quarter will be the underground scoping study, an updated Mineral Resource Esঞmate and in-fill drilling in the Starter Pit," concluded Mr Lamb.

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