New mineral targets found near Hera
Wednesday March 3, 2010
A number of potential new mineral targets have been revealed in the Nymagee area.
YTC Resources, which purchased the Hera deposit, recently carried out a gravity geophysics survey of the area between Hera and the historic Nymagee Copper Mine and has reported positive results.
Company chief executive officer Rimas Kairaitis said several new high priority targets were identified from the survey.
“The gravity technique has historically proved highly effective in the Cobar basin for directly identifying the location of ‘Cobar style’ sulphide ore deposits,” he said.
The survey indicated positive responses in a number of untested areas including an area immediately south and south east of the Nymagee Copper Mine, an area west of the mine, and an area to the south of the recently discovered Zeus anomaly.
Mr Kairaitis said the area near the Zeus anomaly could bear further positive results, with a number of areas outside the parameters of the recent survey.
The gravity survey also provided further information about a number of targets which have had minimal drill testing.
“The Hera deposit has a discrete gravity anomaly response.
“This is consistent with the successful application of the gravity technique to other Cobar-style ore systems, most notably the CSA deposit,” Mr Kairaitis said.
The Zeus target returned a similar response, while a strong result was also recorded immediately north of the Nymagee Copper Mine.
“These results are very exciting.
“YTC strongly believes gravity to be a powerful tool in the discovery of further Hera-style ore bodies which are otherwise blind at the surface.
“These new anomalies give us great
encouragement to extend our exploration drilling effort, with a view that the Hera-Nymagee corridor may ultimately reveal a number of new mineral systems,” Mr Kairaitis said.
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