Oct 9 2014
Asia Pacific Mining Limited ("APML" or "the Company") is pleased to announce the full approval of its AP-4 mineral exploration license in Shan State, Myanmar.
Approval of APML's AP-4 license application was granted today by the Myanmar Ministry of Mines, represented by the Department of Geological Survey & Mineral Exploration, constituting the final step in approval and finalization. This historic approval represents the first grant of a 100%-owned exploration license to a Western-led mining development company in Myanmar.
"The finalization of the AP-4 license marks the culmination of years of cooperation between Asia Pacific Mining Limited, Myanmar's Ministry of Mines and the Department of Geological Survey & Mineral Exploration," said Andrew Mooney, Chief Executive Officer of APML. "The fact that this emerging mining superpower has selected us as their first recipient of a modern exploration license granted to a Western-led firm speaks highly of the quality of professionals and work to date on both sides."
The AP-4 license covers 649 square kilometers northwest of the town of Namtu, Shan State -- itself located approximately 40 kilometers northwest of the major regional center and airport at the city of Lashio.
The AP-4 license was advanced by APML to cover lands surrounding the historic Bawdwin zinc-lead-silver mine -- one of the largest producers of these metals in the world during its period of peak output when built and operated by British interests at the turn of the 20th century. Since 1951, production from Bawdwin totaled over 8.1 million tonnes of ore grading an average of 4.5% zinc, 8.8% lead and 0.18% copper. This includes 5.5 million tonnes of ore produced from underground workings, which carried an average silver grade of 7.9 troy oz/t (246 g/t). This data does not capture reported production of associated nickel, antimony and gold.
APML believes that historic exploration in the Bawdwin area has been minimal -- thus raising strong prospects for additional discoveries here of volcanogenic massive sulfide deposits similar to the Bawdwin lodes. The AP-4 license area covers ground stretching from the Bawdwin mine to historic underground workings in the northerly Mohochaung area, where past production of zinc, lead and silver has been widely reported.
The Company now plans to begin fieldwork at AP-4 on October 9. A number of target zones for Bawdwin-style mineralization have already been identified across the project based on past geological and geochemical surveys -- copies of which are held in APML's proprietary geological library and database covering Myanmar. APML has supplemented this data with modern analysis of satellite imagery and other sources in order to prioritize first areas of investigation for the AP-4 project.
Initial fieldwork at AP-4 will consist of field mapping, sampling and geochemical surveys aimed at better defining drill targets for subsequent testing. Based on APML's knowledge of the geology at the Bawdwin mine and across the region, the Company believes the AP-4 project holds potential for discovery of zinc-lead-silver deposits at world-class size and grade.
At the same time as APML is advancing the AP-4 project, the Company is also moving forward with exploration license applications for copper-gold porphyry targets in Sagaing Division, central Myanmar (applications AP-8, AP-9 and AP-10). These applications are also based on proprietary data from APML's unique countrywide library and database, and are designed to cover targets similar to the Monywa copper mine—which contained an original Measured and Indicated Mineral Resource of over 1 billion tonnes grading 0.40% copper in Sagaing Division. More updates on these projects will be released over the coming months.