YTC Resources (ASX: YTC) reverse circulation (RC) drilling has intersected strong, shallow copper sulphide mineralisation at the southern end of the historic Nymagee Copper Mine.
The results indicate excellent potential for the establishment of open-pit copper operations at both the northern and southern ends of the mine as the first stage of a mining development at Nymagee.
Highlights include:
- 53 metres at 1.7% copper (Cu) from 87m, including 25m at 2.7% Cu from 96m (hole NMRC022);
- 16m at 0.7% Cu from 35m, and 19m at 1.0% Cu from 76m (NMRC021).
Further results have also been received from the northern zone of shallow copper mineralisation with 47m at 0.85% Cu from 27m, including 6m at 2.8% Cu from 57m (NMRC008).
The Nymagee Copper Deposit remains open to the north, south and at depth.
Rimas Kairaitis, YTC’s CEO said “these holes demonstrate the persistence of strong copper mineralisation at open-pittable depths at both the southern and northern ends of the Nymagee Copper Mine."
The Nymagee deposit has the potential to be mined and treated under an expanded development scenario in conjunction with the company’s Hera Project, located only 4.5kms to the south.
Nymagee resembles a “Cobar Style” deposit and is similar to the world-class CSA copper deposit.
The company is now seeking permitting approval for detailed drill testing of shallow copper mineralisation at both the southern and northern ends of the mine.
The drilling will allow for the estimation of a shallow copper resource at Nymagee in combination with a deeper, higher-grade underground resource.