Update on the Hera-Nymagee Project
Sydney, Jan 28, 2014 AEST (ABN Newswire) - YTC Resources Limited (
ASX:YTC) is pleased to provide an update on development and exploration activities at its Hera-Nymagee Project.
HERA CONSTRUCTION
Development activities at the Hera Project continue to progress smoothly. Key activities since the last project update include:
CONTINUED STRONG PROGRESS OF HERA UNDERGROUND DEVELOPMENT
Underground development rates have continued to be well above schedule with December at 118% and January to date at 125% of schedule. Optimisation work on a revised mine schedule is close to completion.
PROCESS PLANT CONSTRUCTION ON SCHEDULE
The Hera process plant is being designed and constructed under a lump-sum, turn-key EPC Contract with Gekko Systems in Ballarat. Commissioning is scheduled to commence in July 2014.
Site civil works are well advanced with installation the first components of the plant expected to commence in February. Construction of the process plant remains on schedule with the first deliveries of equipment occurring during January.
Flotation Cells are nearing completion and due to ship within next few weeks. Gravity and grinding frames have been completed and started to be fitted with screens and gravity components in the Gekko factory in Ballarat.
SURFACE EARTHWORKS
The wall of Stage 1 of the Tailings Storage Facility (TSF) is now complete. Conditioning of the floor is nearing completion.
Site access roads are essentially complete with the only the heavy vehicle access road intersection remaining.
HERA POWER STATION CONSTRUCTION
The LNG facility is completed and commissioned. Gas generator sets have been installed with installation of switch gear due for completion in the next week. The go live date for the power station is the 14th February.
HERA UNDERGROUND DRILLING COMMENCED
Underground stope delineation drilling in the upper part of the Hera ore-body has commenced. The upper part of the Main North Lens is relatively lead-zinc-rich, gold-poor section of the ore-body, however initial drill results have returned gold results which have exceeded expectations.
Significant results are shown below and in long-section:
- HRUD005: 7m @ 7.4g/t Au, 26g/t Ag, 5.1% Pb, 9.2% Zn
- HRUD003: 5m @ 0.5g/t Au, 22g/t Ag, 3.8% Pb, 5.3% Zn and 8m @ 6.9g/t Au, 0.5% Pb, 0.4% Zn
- HRUD004: 10m @0.39g/t Au, 19g/t Ag, 3.2% Pb, 4.4% Zn
The intersection in HRUD003 was outside the current stope design.
HERA-NYMAGEE EXPLORATION
EXPLORATION DRILLING HAS RECOMMENCED
YTC has commenced an extensive exploration programme which is scheduled to continue over the course of the 2014 calendar year at both Hera and Nymagee.
Drill targeting at the Hera South target commenced on 16th January as an initial 3 wedge holes testing below the strongest sulphur intersection in the Hera system (HRD040) which hosts a number of high grade gold and lead- zinc intervals as depicted in the long section in link below.
NYMAGEE DRILL RESULTS
Results of hole NMD087 which was completed in December 2013 are also available and shown below and on long section. The results are within expectations with minor to moderate base metal mineralisation.
- NMD087: 14.7m @ 0.1% Cu, 0.3% Pb and 0.6% Zn from 381.5m, and
43.3m @ 0.2% Cu, 0.4% Pb and 0.6% Zn from 401.7m
Final planning is underway for an extensive exploration campaign at Nymagee for 2014, including beneath the main Nymagee Deposit and further drilling at Nymagee North.
YTC's Managing Director, Rimas Kairaitis commented: " "We are very pleased with continued good progress on the Hera development which remains on schedule. With exploration d rilling now in full swing we look forward to deliver ing our key project milestones together with exploration updates through 2014"
ABOUT THE HERA-NYMAGEE PROJECT
The Hera-Nymagee Project represents YTC's flagship Project and consists of the Hera gold-base metal deposit (YTC 100%) and the Nymagee copper deposit (YTC 95%), and is located approximately 100km south-east of Cobar, in central NSW. The deposits are hosted in the Cobar Basin, which also host the major mineral deposits at CSA (Cu- Ag), The Peak (Cu-Au) and Endeavor (Cu-Pb-Zn-Ag).
YTC completed the Definitive Feasibility Study ('DFS") on the Hera Gold Project in June 2011, which confirmed the technical and financial viability of the development of the Hera deposit as a shallow underground mine and processing plant producing gold and silver doré bars and a bulk lead-zinc concentrate for sale. YTC subsequently received Project Approval from the NSW State Government in August 2012 and shareholder approval for a major funding transaction with Glencore in March 2013.
YTC is now in full scale development of the Hera project with first production due in the September quarter 2014.
The Company is also currently evaluating the Nymagee copper deposit, located 4.5km to the north, with a view to demonstrating an integrated development of the Hera and Nymagee deposits.
YTC maintains a commitment to the ongoing exploration of the Hera-Nymagee Project and considers both deposits have the potential to evolve into very large "Cobar style' mineral systems.
To view tables and charts, please visit:
http://media.abnnewswire.net/media/en/docs/76501-ASX-YTC-665148.pdf
About Aurelia Metals Ltd
Aurelia Metals Limited (ASX:AMI) is focused on the development and exploration of the high grade Hera-Nymagee Project in the Cobar district of NSW.
Aurelia is actively drilling the evolving copper deposit at Nymagee with the potential that the Nymagee mineralisation may evolve into another 'Cobar Giant' similar to the world class CSA copper deposit located approximately 100km north-west along strike.
Aurelia also remains active in the exploration for copper, gold and tin on a number of tenements in the Lachlan Fold Belt of NSW.
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