A Major New Copper Discovery Emerging
The Nymagee Copper Deposit includes the historic Nymagee Copper Mine, where YTC is evaluating an emerging high-grade copper discovery. Exploration results to date continue to indicate a very large copper system, with high grade copper lenses now extending to >500m vertical depth and remain open at depth and to the north. The mineralisation at Nymagee also includes very broad, strong copper sulphide mineralisation at open-pittable depths.
YTC released the maiden Nymagee Mineral Resource Estimate in December 20111 just 14 months after the discovery of high grade copper mineralisation beneath the historic Nymagee Copper Mine. The Nymagee mineralisation remains open to the north and at depth, and the Resource is expected to grow as YTC maintains active drilling on the deposit through 2012.
|Description||Cut Off||Tonnes||Cu %||Pb %||Zn %||Ag g/t|
|Shallow Cu Resource (above 90mRL)||0.3% Cu||5,147,000||1.00||0.10||0.20||5|
|Deeper Cu Resource (below 90m RL)||0.75% Cu||1,984,000||1.80||0.30||0.60||11|
|Lead-Zinc-Silver Lens||5% Pb + Zn||364,000||0.50||4.40||7.80||41|
|Deeper Cu Resource (below 90m RL)||0.75% Cu||601,000||1.30||0.10||0.20||8|
|Contained Metal (tonnes)||96,000||27,000||53,000||69|
The continuity of copper mineralisation and the discovery of new high grade copper lodes at depth is very consistent with the evolution of Cobar-Style ore deposits in general and of the CSA deposit in particular.
The vertical continuity of most known, copper-rich Cobar style ore systems extends to >1500m vertical and YTC is very encouraged that Nymagee will demonstrate similar continuity at depth and unfold into a major copper discovery.
The Nymagee Copper Mine represents a significant site of historic high-grade copper mining. The mine was operated between 1880-1917 with a recorded mine production of 4222,000t of ore at 5.8% Cu. The mine was operated at a nominal cut-off grade of 5% Cu and was direct fed into timber fired brick furnace to produce a crude copper matte. The Nymagee Mine operated over 8 x 100foot levels, with the Nymagee Main Shaft extending to approximately 250m vertical depth.
The mine closed suddenly in 1917 owing to man shortages and falling copper price connected to Russia’s exit from World War 1.
YTC Resources commenced exploration at Nymagee in August 2010, following a successful acquisition of an 80% interest in the Project from CBH Resources for $1m.
The first drill hole by YTC, NMD001, recorded the discovery of high grade copper sulphide mineralisation approximately 50m below the deepest level in the historic mine (8 level):
- NMD001: 8.9m @ 7.2% Cu, 24g/t Ag & 0.16g/t Au from 370.5m
Drilling beneath the historic mine has now extended to ~500m below surface with consistent strong copper mineralisation recorded. Highlight intersections included:
- NMD009W2: 10m @ 7.1% Cu, 0.21g/t Au, 39.7g/t Ag from 379m
- NMD021: 10m @ 2.4% Cu from 430m
- NMD021W1: 36m @ 2.5% Cu and 11g/t Ag from 381m
- NMD007: 26m @ 2.1% Cu and 7g/t Ag from 361m, including
10m @ 3.0% Cu and 10g/t Ag from 375m
- NMD008W1: 20m @ 3.9% Cu, 22g/t Ag and 0.20g/t Au from 452m, including
14m @ 5.1% Cu, 22g/t Ag and 0.27g/t Au from 458m, including
6m @ 7.8% Cu, 41g/t Ag and 0.6g/t Au from 465m
- NMD038: 18m @ 6.3% Cu, 0.65g/t Au and 26g/t Ag from 294m
- NMRC040: 10m @ 6.7% Cu, and 13g/t Ag from 15m (Main Lens)
Mineralisation remains open at depth and to the north .
Nymagee Footwall Lodes
The Nymagee Copper Mine system hosts substantial intervals of broad, low-grade copper mineralisation on the eastern ‘footwall’ side of the Deposit. The deepest drilling into the system to date has demonstrated these footwall lodes to be resolving into high-grade copper lenses at depth.
Hole NMD017, recorded a bulk interval of 272m @ 0.67% Cu, inclusive of numerous high grade lodes:
- NMD017: 12m @ 3.7% Cu from 324m (‘Royal’ lode)
- NMD017: 6m @ 3.75% Cu from 471m (‘Club House’ lode)
The development of high grade lode mineralisation in the footwall position is very consistent with Cobar style deposits in general and the world-class CSA copper system in particular. Deeper drilling to further evaluate the Nymagee copper mineralisation at depth is ongoing.
The vertical continuity of most known, copper-rich Cobar style ore systems extends to >1500m vertical and YTC is very encouraged that Nymagee will demonstrate similar continuity at depth.
Shallow Copper Sulphide Mineralisation
The first shallow RC drill holes by YTC at Nymagee discovered significant shallow copper sulphide mineralisation at open-pittable depths at both the northern and southern extents of the known Nymagee copper mineralisation. Highlight results to date include:
- NMRC001: 53m @ 2.3% Cu from 34m, including
16m @ 4.2% Cu from 42m (supergene zone)
- NMRC002: 69m @ 1.5% Cu from 39m, including
19m @ 3.0% Cu from 49m (supergene zone)
- NMRC003: 71m @ 0.9% Cu from 56m
- NMRC006: 63m @ 1.3% Cu from 54m
- NMRC022: 53m @ 1.7% Cu from 87m, including
25m @ 2.7% Cu from 96m
- NMRC059: 87m @ 2.2% Cu from 13m to EOH, including
13m @ 7.3% Cu and 25g/t Ag from 13m, and
13m @ 3.1% Cu from 55m
- NMD038: 92m @ 1.5% Cu from 88m
A detailed infill drill programme over the shallow copper mineralisation is planned to evaluate the shallow copper mineralisation in detail and to allow for the addition of a shallow copper resource to be included in the maiden Nymagee Resource Estimate.
Lead-Zinc-Silver mineralisation at Nymagee
The occurrence of substantial lead-zinc-silver mineralisation at the Nymagee Copper Mine was recorded by the historic miners and also in an historical estimate completed by Cyprus Mining Corporation in 1974. The lead-zinc-silver mineralisation occurs as a discrete lens or lenses approximately 10-15 west of the Nymagee Main Lode copper mineralisation and was left unmined by the operators of the historical Nymagee Copper Mine. The ongoing drilling at Nymagee has continued to intersect the lens, particularly in the upper sections of the mine, and a number of substantial intersections have now been recorded including:
- NMD015W1: 8.0m @ 4.6% Pb, 7.3% Zn and 26g/t Ag
3.3m @ 6.1% Pb, 11.7% Zn and 51g/t Ag
- NMRC002: 5m @ 6.0% Pb, 10.9% Zn and 55g/t Ag
- NMRC003: 8m @ 5.7% Pb, 10.2% Zn and 57g/t Ag
- NMD043: 8m @ 5.0% Pb, 13.6% Zn and 125g/t Ag
- NMRC051: 12m @ 5.7% Pb, 9.1% Zn and 62g/t Ag
- NMD032: 5m @ 17.1% Pb, 24% Zn and 265g/t Ag
- NMD052: 13m @ 0.6%Cu, 10.9%Pb, 20.9% Zn and 108g/t Ag
It is anticipated that once results from the pillar drilling programming are received that the lead-zinc silver lens will form a component of the maiden resource estimate at Nymagee.
The Nymagee mineralisation remain open to the north and at depth and YTC remains confident that further exploration will continue to grow the deposit in the manner of other major Cobar mineral systems.
Hole NMD050W1, the deepest drill hole drilled to date under the Nymagee deposit was designed to test approximately 100m below strong copper mineralisation in holes NMD017 and NMD017W. The hole drifted approximately 50m north of its target and intersected broad zones of copper mineralisation including a number of higher grade zones, including:
- NMD50W1: 240m @ 0.4% Cu, including
- 33.3m @ 0.96% Cu from 422.42m, including
1.0m @ 12.0% Cu from 438.7m
61.0m @ 0.8% Cu from 547m, including
4.0m @ 2.0% Cu from 558m
10.0m @ 0.5% Cu from 644m
The results are interpreted as very encouraging as they now demonstrate the continuation of broad intervals of copper mineralisation to a vertical depth of over 500m and show the copper mineralisation to be open at depth.
In December 2011, YTC also announced the discovery of a new zone of massive sulphides at Nymagee North, located approximately 500m north of the Nymagee Deposit. The zone is associated with an EM conductor, a gravity response and Pb-Zn-Ag-Cu-Au mineralisation.
Best Results from Nymagee North to date include:
18m @ 1g/t Au, 23g/t Ag, 0.9% Cu, 1.9%Pb+Zn, &
6m @ 0.5g/t Au, 149g/t Ag, 16.6% Pb+Zn