YTC Resources (YTC) ? Nymagee looks good and getting betterYTC...

YTC Resources (YTC) ? Nymagee looks good and getting better

YTC has two projects in the Cobar region of NSW. Their flagship project ?Hera? is located in Cobar, just down the road from the CSA mine run by Glencore. Hera has a resource of ~670,000oz of gold at an 8.6g/t Au gold equivalent grade (Au+Ag+Pb+Zn). YTC should be completing their Definitive Feasibility on Hera by early September ? aiming for a small $65m capex and estimated first production by late 2012 assuming they push the button.

Their second project is called ?Nymagee? ? a copper project around 5km from Hera (both are around 80km from Cobar). Nymagee was originally mined for copper with ~422,000t @ 5.8% Cu mined out from old underground workings. YTC has drilled below the existing workings to find mineralisation extends down nearly 500m still open at depth and along strike. Best grades have included [email protected]% Cu. Management believes that the project could be a analogue of the
Glencore owned CSA mine nearby and could extend down as far as 2km like other mines (such as CSA) in the region of similar morphology.

YTC currently has 3 rigs drilling out the 1.2km long gravity anomaly at Nymagee and expects a maiden resource for the Nymagee deposit by late September this year.

http://www.ytcresources.com/public/documents/4/11/Diggers%20&%20Dealers%202011.pdf

Should help to keep the share price stable 'til we get the DFS for HERA ...