YTC confirms gold at Kadungle

THE DRILL SERGEANT: YTC Resources has released the latest exploration results from the company’s 100 per cent-owned Kadungle copper-gold project in central New South Wales.

The Kadungle project is located approximately 40 kilometres northwest of the NorthParkes copper-gold deposit of Rio Tinto.

 

Source: Company announcement 

In December 2011, YTC completed 2 RC holes at the Mt Leadley prospect at Kadungle, testing for copper-gold mineralisation.

According to the company assay results from these holes have confirmed broad intervals of low-grade gold-copper mineralisation, with high gold grade mineralisation.

Results included:
 
–    154 metres at 0.37 grams per tonne gold and 0.12 per cent copper from surface, including 3 metres at 7.08 grams per tonne gold and 0.31 per cent copper from 115 metres; and

–    131m at 0.13g/t gold and 0.17 per cent copper from 41m.

YTC said the higher grade gold interval of 3m at 7.08g/t gold is associated with an eastern breccia margin 50m south along strike from high grade gold intersected in the same structural position of previously released drilling results ( 12m at 7.73g/t gold).
 
The company said the drilling has confirmed the preferential development of high grade gold in this position and that it considers the breccia margin zone at Kadungle to represent a potential high grade gold target.

“These results look to have confirmed the preferential development of high grade gold on the margin of the diatreme breccia at Kadungle,” YTC Resources chief executive officer Rimas Kairaitis said in the company’s announcement to the Australian Securities Exchange.

“The breccia margin represents an exciting high-grade gold target for further exploration”