Ann: Very Strong Copper Results from Nymagee Dril, page-8

re: Ann: Very Strong Copper Results from Nyma... Thanks for that i will look into it.

New Hartleys report out Price Target $0.89 :-)

http://www.ytcresources.com/public/documents/4/11/YTC%2020110825%20External.pdf

YTC RESOURCES LIMITED
Attractive Open Pit Mining Opportunities at Nymagee
YTC Resources Limited (?YTC?, ?Company?) continues to intersect
significant copper mineralisation from shallow drilling at the northern zone,
Nymagee project (YTC 90%), located ~100km southeast of Cobar, NSW.
Some of the latest drill results include supergene-oxide and fresh copper
mineralisation from the Main Lens and Footwall Zone positions with some
very high-grade copper grades up to 6.7% Cu reported.
The extensive shallow drilling program (~7,000m) is designed to allow for
the estimation of a shallow copper resource, with the results providing
further encouragement that YTC will be able to establish an open pit
operation prior to the development of the higher grade underground mine.
To date, the Company has completed close to 5,000m of drilling with three
rigs drilling on site providing a steady flow of news.
Shallow copper at good widths and grades continuing to extend
The latest drilling has returned very strong copper results over good widths
within a broad envelop of copper mineralisation at shallow depths. Some of
the high-grade copper results reported include 10m @ 6.7% Cu and 13g/t
Ag from 15m; 10m @ 4.3% Cu, 16g/t Ag and 0.27g/t Au from 102m; and
17m @ 2.1% Cu and 12g/t Ag from 149m. The Nymagee copper system
remains open at depth and along strike, with the copper mineralisation
continuing to extend in the northern zone. The Company has also
intersected a shallow zone of oxide gold enrichment which has not been
previously identified at Nymagee with 2m @ 3.47g/t Au, 1.0% Cu
intersected from a depth of only 5m. The potential for shallow gold
mineralisation needs to be evaluated with YTC proposing follow-up work.
Still early days for deep drilling but broad copper intersected
YTC has completed its second deep diamond drill hole at Nymagee below
the historical mine to test the continuity of the Nymagee copper system at
depth. The second hole drilled reached the targeted position and visual
logging estimates a broad zone (~100m) of copper mineralisation (<0.5%)
from ~450m down hole; assays are pending. The intersection of broad
copper mineralisation is encouraging, however, it would appear the lode
positions for the blind high-grade copper lodes found vertically above are yet
to be intersected but assays are required to confirm. The third deep drill hole
is underway and has been position ~50m north of the first hole with over
450m of strike to test for mineralisation. It is still early days for the deep
diamond drilling program with first assays expected in ~2-3 weeks.
Nymagee still evolving into a significant copper deposit
The shallow high-grade copper mineralisation intersected in the northern
zone, provides further encouragement for a significant shallow copper
resource that will be extractable via open pit mining methods. The Nymagee
deposit remains open (at depth and along strike) implying good resource
growth to come, with a maiden resource release expected in late September
2011.
The Hera DFS release is still a few weeks away but we expect that the start
of construction of the Hera decline will be before the end of the year. We
have a price target for YTC of 89cps, and we maintain our Buy
recommendation.