One.
If they get similar results 200 metres out then there is no doubt there is an ore body. From the last ASX release,
"BWDD023, as discussed in the ASX release of 11 March 2019, intersected strong breccia vein to massivechalcopyrite mineralisation. Assay results for the hole confirm the visual assessment, with an intersection of 13mat 5.5% Cu, 79g/t Ag, 0.3% Co and 0.5% Ni from 156m. The hole also intersected 8m at 2.4% Pb and 11m at 1.1%Pb from 111m and 127m respectively and 2m at 5.8% Cu, 50g/t Ag, 0.4% Co and 1% Ni from 132m (Figure 4)."
First thing to note is there are two good intervals of Copper/Cobalt. It isn't just 5.46%Cu/0.28%Co over 13 metres, it's also an additional 2 metres at 5.83%Cu/0.41%Co. Forgetting the 20 metres of lead and the Nickel intervals, just focusing on the value of the Cu/Co hit, with Cu at $6600 and Co at $30,000 per tonne,
The copper equivalents are approximately 13 metres @ 7% Cu and 2 metres @ 7.8% Cu. This is as good as it gets.
The next thing to look at is the width and strike (length) of the potential orebody. It looks like the main section of the anomaly is approximately 400 metres long and maybe 200 metres wide on average. However, the historic adits are almost 500 metres SE of hole 23. Hole 24 is approximately 200 metres in the opposite direction (Then there is the SW anomaly a few hundred metres away which is as yet undrilled). It is early days yet but there are very good signs that this is a VERY SIGNIFICANT find. I'd suggest that if this was in Australia, and a junior had found this deposit alone, the market cap would be multiples above the current MYL market cap. An optimist would argue this orebody could be over a kilometre long. In a region as rich as the Bawdwin province, the optimist might be getting it rightOver te next 12 months we will get a better idea and the results for BWDD024 can't be too far away, they may come out before any other news.
Of course that 8-04-2019 release also incorporated other very significant results and has highlighted that the Yegon Deeps (one I am very excited about) is getting serious prep work ahead of the next drilling campaign. That announcement is worth reading several times over, there is a lot to digest.
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- Ann: Media Interview - New High Grade Copper at Bawdwin
Ann: Media Interview - New High Grade Copper at Bawdwin, page-44
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