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Corporate Spotlight

Myanmar Metals Limited is a diversified mineral exploration company, which controls, through farm-in agreements with Merlin Diamonds Ltd (MED), a portfolio of prospective exploration tenements in the Northern Territory, Australia. MYL's main project is the Arnhem Land Base metals Project.
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Bawdwin Silver Lead Zinc Copper Project in Myanmar


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ASX Announcement 19 November 2018


  • New drilling results extend recently discovered western hanging wall lode along strike for over 250m, with potential to extend further north as well as up and down dip
  • More high grade mineralisation intersected in infill drilling:
    • BWRC025 intersected 74m at 5.7% Pb, 2% Zn and 106g/t Ag. BWRC025 also intersected mineralisation existing outside the current resource model
    • BWRC029 intersected 21m at 4.8% Pb and 2.7% Zn from 12m, including 8m at 10.8% Pb, 4% Zn and 100g/t Ag as well as 2m @ 2.3% Cu and 2,677ppm Co
  • BWRC032 drilled in western hanging wall, a location in the China Pit modelled as waste, intersected 24m at 2.2% Pb, 0.9% Zn including 6m at 5.3% Pb and 2% Zn
  • Drilling to extend the western hanging wall lode to the north is in progress
  • More drilling results expected imminently, including the prospective faulted zone between China and Meingtha Lodes  

Myanmar Metals Limited (“MYL” or “the Company”) is pleased to announce the Bawdwin Joint Venture (“BJV”) has received further assay results from the ongoing drill program. 

John Lamb, Chairman and CEO: 

“This is another set of outstanding drill results. Discovering new, wide mineralised zones within the China Starter Pit, as we have done with the new Western Hanging-wall Lode, provides potential to significantly improve starter pit economics, as tonnes previously modelled as waste could be processed as mineralised material, reducing the already low stripping ratio even further. A revised resource assessment incorporating drilling results from the western hanging wall and the high grade mineralisation intersected within the footwall is planned for completion in early 2019 and will be incorporated into the Prefeasibility Study.” 

Click here to view the full announcement.


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ASX Announcement 9 November 2018


  • The first holes in the current drill program show high-grade mineralisation, not included in the existing Bawdwin resource 
  • BWRC027 intersected 21m @ 5.7% Pb, 2.6% Zn, 174g/t Ag and 32m @ 4.2% Pb, 0.9% Zn and 91g/t Ag including 11m @ 8.8% Pb, 1.9% Zn and 206 g/t Ag 
  • BWRC024 intersected 65m @ 4.5% Pb, 5.0% Zn and 125g/t Ag, and 40m @ 5.0% Pb, 1.8% Zn and 81g/t Ag including 6m @ 12.6% Pb, 2.8% Zn and 226g/t Ag 
  • BWRC033 intersected 2m @ 5.5% Cu, 286g/t Ag, 2.7% Ni and 0.5% Co as well as a 28m wide zone of 2.9% Pb 
  • Ongoing drilling has potential to add significant high-grade resources 
  • More drilling results expected imminently, including the prospective faulted zone between China and Meingtha Lodes

Myanmar Metals Limited (“MYL” or “the Company”) is pleased to announce the Bawdwin Joint Venture (“BJV”) has received first assay results from the ongoing drill program. 

John Lamb, Chairman and CEO, stated: 

“These early drilling results are stunning and show potential for significant expansion of the Bawdwin resource envelope. Already we are seeing outstanding results in the west wall of the China Lode, in areas previously modelled as waste; high-grade lead-zinc-silver mineralisation in zones previously modelled as lower grade halo mineralisation; and excellent copper-nickel-cobalt mineralisation over smaller intervals in the north-eastern part of the China Lode. 

The Company is delighted with these first drilling results and very excited about imminent results from drilling in the faulted zone between the China and Meingtha Lodes, again currently mapped as void of mineralisation in the resource model. 

The BJV’s active drilling and exploration programs are delivering strong results from the outset, underlining the absolute quality of the Bawdwin Mineral Field”

Summary of drilling results 

BWRC027, drilled in the southwest edge of China Lode intersected 32m @ 4.2% Pb, 0.9% Zn and 91g/t Ag, including 11m @ 8.8% Pb, 1.9% Zn and 206g/t Ag, west of the current China Lode Mineral Resources(Figure 2). The Company considers this drill result as highly significant as the Gradient Array Induced Polarisation (GAIP) survey recently completed over this area defined an anomaly west of the China Pit which may relate to additional mineralised zones, approximately 200m west of the current China Lode Mineral Resource. Further drilling will be planned both up and down dip to test the extent of this new mineralised zone.

Click here to view the full announcement


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ASX Announcement 29 October 2018


  • China Pit Scoping Study completed – Planned Phase 1 of mining operations is a profitable, low-cost starter pit which funds life-ofmine infrastructure with a 2-year payback period, while consuming only 26% of current Indicated and Inferred Mineral Resources 
  • Resource and geotechnical drilling underway on China Lode 
  • The Bawdwin Mineral Province’s first systematic modern exploration program is underway with early results showing significant potential to add to the current resource position 
  • Pre-Feasibility Studies have commenced 
  • Key appointments made in senior roles to advance project studies


Myanmar Metals Limited (“MYL” or “the Company”) and its partners in the Bawdwin Joint Venture (“BJV”) commenced Pre-Feasibility Studies (“PFS”) and the first systematic modern exploration program ever undertaken on the Bawdwin Mineral Field during the September 2018 quarter. A positive China Pit Scoping Study was completed during the period, which marks the achievement of the first operational milestone on the path to redevelopment of the world class Bawdwin mine.


The September quarter started with MYL announcing its fourth resource upgrade since the maiden Bawdwin Inferred Mineral Resource was declared in October 2017. Drill results from two holes in the northern end of the China Lode led to an updated resources assessment and a 23% increase in the Indicated Mineral Resource estimates in the China Lode. Bawdwin Indicated and Inferred Mineral Resource estimates are now 82 Mt at 4.8% Pb, 119g/t Ag, 2.4% Zn and 0.2% Cu, (0.5% Pb cut-off above 750m RL, 2% Pb below 750m RL). This resource endowment places Bawdwin resource amongst the very largest high-grade, primary lead pre-production projects globally.

A further resource drilling program commenced in August 2018. The program started with the drilling of geotechnical and metallurgical holes on the China Lode, which will provide valuable data for the engineering design of the China Pit and mineral processing infrastructure. The drilling program also targetszones of the China Pit which are currently classified as Inferred Mineral Resources, to upgrade the classification of these resources and permit the declaration of maiden Mineral Reserve in early 2019, upon the completion of the PFS. Other priority drilling locations include the west wall of the China Lode, the region between the China and Meingtha Lodes and the south of Shan Lode. These locations bear potential to add significant project resources and / or upgrade the existing classification of resources.

Copper, Cobalt, Nickel 

Final results of a re-assaying campaign were received during the quarter which led to the identification of wide intervals of copper-cobalt-nickel mineralisation. Best assay results include: 

  • 15 m. at 0.15% Co, 2.78% Cu, 86 g/t Ag and 21 m. at 0.14% Co, 1.0% Cu and 95 g/t Ag and 4.8% Pb from BWDD005 
  • 22 m. at 0.16% Co, 122 g/t Ag, 5.95% Pb and 1 m at 1.4% Co, 13.4% Cu, 452 g/t Ag and 4.4% Ni from CHDD001 
  • 27 m. at 0.16% Co, 0.84% Cu and 1.74% Pb from BWDD004 

Interestingly it is noted that around the world cobalt grades of 0.05% are mined, so whilst these results are very early stage, they are highly encouraging.

Andrew Ford, General Manager of Geology, commented: 

“The re-assaying program indicated we had some outstanding copper-cobalt-nickel mineralisation both within and outside of the domains of Bawdwin’s dominant lead-zinc-silver mineralisation. We believe this is a result of a later stage mineralising event. Although comprising a relatively small part of the overall mineralisation drilled to date, historic underground sampling has shown the copper-cobalt-nickel zones mainly occur in areas with little drilling, particularly in the Shan Lode and deeper parts of Meingtha Lode. We intend to follow these targets up with drilling in the future.

Click here to view the full announcement`


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ASX Announcement 16 October 2018


  • Strong indications of new zones of mineralisation, outside Bawdwin’s known resources, have been defined by the ongoing geophysical survey 
  • ER Valley chargeability anomaly rivals China Lode anomaly in intensity 
  • Deeper penetrating geophysical surveys will be conducted along with soil sampling and mapping to further define targets for drilling

Myanmar Metals Limited (“MYL” or “the Company”) is pleased to announce the Bawdwin Joint Venture (“BJV”) has completed around 50% of the Gradient Array Induced Polarisation (“GAIP”) geophysical survey and has already defined multiple chargeability anomalies, prospective for base and precious metals mineralisation, along strike and parallel to the known Bawdwin lodes.

Data collected from the GAIP and other current exploration surveys will be used in conjunction with historical information to provide multiple lines of evidence to support the identification of exploration targets which will then be prioritised for drilling or further exploration studies.

Andrew Ford, GM Geology, stated: 

“The new GAIP data validates our view that ER Valley is an outstanding exploration prospect, with a chargeability response not unlike the China Lode which has been mined for 100’s of years. Add this data to the existing outcropping mineralisation and records of mineralisation in historic drill holes and adits and the case for the discovery of new mineralised system is very strong.”

Context to Exploration Program 

The Bawdwin deposit remains open at depth and along strike. It is one of the few hydrothermal massive sulphide style deposits globally which has not been explored using modern technologies. The BJV’s 2018 exploration program aims to discover extensions of the known Bawdwin lodes along strike, and test the potential elsewhere within the licence area. The program is also a vital part of the current Pre-Feasibility Study (PFS) in defining areas free of mineralisation for construction of mine infrastructure.

The exploration program encompasses electrical geophysics, soil sampling and mapping. These surveys have been chosen because of their proven success in identifying exploration targets on similar style deposits globally.

Click here to view the full announcement


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Mkt cap $65.58M
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