Project developer Myanmar Metals says that based on a positive PFS, Phase 1 of mining operations at Bawdwin, a 13 year Starter Pit, will set Bawdwin up to be a world leading producer of lead and silver as well as a significant zinc producer. Some 24.7 Mt of mineralised material will be mined and processed, grading 6.4% Pb, 168g/t Ag and 3.2% Zn, while leaving the bulk of the Bawdwin project Mineral Resource unmined. There is potential to commence pilot scale mining operations on the Bawdwin Mining Concession in 2019 ahead of full scale mining operations in 2021. A scoping study on the first two underground mining operations is underway

.In steady state production, Bawdwin’s Starter Pit would be the 3rd largest-producing lead mine in the world, the 10th largest-producing silver mine in the world, as well as being a globally significant zinc producer. The PFS clearly shows strong underlying project cashflows and valuation metrics for the Starter Pit from processingonly 26% of the current total Mineral Resource estimate for the Bawdwin deposits. Beyond the Starter Pit, which is the sole focus of the PFS, underground mining operations and the Shan and Meingtha lodes are in scoping study phase and a number of other targets and prospects have potential to materially add mine life and value to the Bawdwin mining operation.

The company made a declaration of a maiden JORC Probable Ore Reserve of 18.4 Mt at 6.4% lead, 169 g/t silver and 3.4% zinc representing 74% of the total production from the Starter Pit.