YTC Resources defines new copper targets at Nymagee

Electromagnetic surveying of YTC Resources’ (ASX: YTC) 95%-owned Nymagee Copper Deposit in the Cobar Basin has revealed a number of new targets for drill testing.

Two targets, which have been modelled into conductor plates, are of particular interest and priority.

A very strong conductor plate has been defined beneath the northern footwall zone of the existing Nymagee Resource envelope.

The edge of this conductor plate was intersected in hole NMD060, which returned results of 8 metres at 2% copper from 301 metres and 10 metres at 2% copper from 357 metres.

A 300 metre long conductor plate has been identified at Nymagee North, 500 metres north of the Nymagee deposit.

This plate also corresponds to the western flank of a gravity high and an induced polarisation anomaly, and is considered to be in an ideal position for the development of another deposit of similar style to Nymagee.

The northern, upper part of this plate was intersected in previously reported hole NMD068, which cut a 22 metre wide mineralised zone including a number of internal intervals of massive sulphide.

Assay results for NMD068 are pending. This zone is currently the target of follow-up diamond drilling.

Chief executive officer Rimas Kairaitis said, “The EM surveys look to have been very effective in generating new targets and YTC looks ahead to drill testing each of these targets as part of the broader exploration effort at Nymagee.”


Nymagee

YTC has a 95% interest in the Nymagee joint venture tenements which are located immediately north of the company’s 100% owned Hera gold-base metal deposit.

Nymagee has a maiden Resource of 8.1 million tonnes at 1.2% copper, 0.3% lead, 0.7% zinc and 9 grams per tonne silver.

The joint venture includes the Nymagee Copper Mine which last operated in 1918 and has recorded historical production of 422,000 tonnes at 5.8% copper.

YTC is the manager and operator of the joint venture and is undertaking exploration at Nymagee to pursue the combined development of Nymagee and Hera.

Originally published at: http://www.proactiveinvestors.com.au/companies/news/24416/ytc-resources-defines-new-copper-targets-at-nymagee-24416.html