Jan 5 2015
Asia Pacific Mining Limited ("APML" or "the Company") is pleased to announce that the first month of exploration activity on its AP-4 license in Shan State, Myanmar has yielded significant discoveries of massive sulfide silver-lead-zinc mineralization.
The 100% owned AP-4 exploration license was granted to APML on October 3, 2014 by the Myanmar Ministry of Mines. The 649 square kilometer license area was applied for by APML based on immediate proximity to the historic Bawdwin silver-lead-zinc (+ copper, nickel, antimony and gold) mine -- one of the most prolific producers of base and precious metals under the British colonial regime in Myanmar.
After reviewing APML's proprietary database and technical library, the Company's technical team concluded that the potential for additional volcanogenic massive sulfide (VMS) mineralization in the area surrounding the Bawdwin mine is very good -- especially in light of the near-complete lack of exploration here during modern times.
During October, APML technical staff made a series of initial field surveys through the area immediately surrounding the Bawdwin mine -- yielding the discovery of significant mineralization.
A zone of mineralization was initially delineated by the discovery of significant piles of slag material located in and around the banks of streams. It is believed these represent the remains of Chinese mining and smelting operations dating to the 14th Century.
Further exploration in the area of these slag piles resulted in the discovery of massive sulfide material in stream cobbles. Recently-received assay results have confirmed the very high-grade nature of this mineralization -- with sample AP4-001 returning results of 305 g/t Ag, 56.9% Pb, 4.1% Zn, equating to 2,560 g/t Ag equivalent[1].
Based on these results, APML has begun discussions with drilling contractors on procuring rigs for drill-testing of this target. It is expected that the target will be ready for drilling by April. APML is also advancing exploration activities at a number of areas considered prospective for the discovery of additional targets across the 649 square kilometers of license area that make up the AP-4 project.
[1] Ag equivalent calculated using current prices of $15.77 per ounce Ag, $0.84 per pound Pb, and $0.98 per pound Zn.
Source: http://www.apmining.com/