YTC Resources (ASX: YTC) has provided an update in relation to the exploration program being undertaken at its Hera Gold Project in New South Wales, where the company has reported extremely encouraging results to date.
The first infill hole returned 18m @ 10.35g/t Au*, 0.4% Pb & 0.5% Zn from 382m, upgrading the northern section of the Main Lens.
Following the announcement, shares in YTC rose 6.4% to 25c.
Rimas Kairaitis, chief executive of YTC commented on the early successes at Hera, saying the infill drilling within the Main Lens had produced some excellent high grade results that the company was keen to follow up.
"We are certainly not surprised by the encouraging results we’ve seen so far given the high grade nature of the Hera deposit," Mr Kairaitis said.
A recent gravity survey data now being processed with results expected in early 2010.
The New Zeus anomaly has been drilled, intersecting strong alteration with
minor Cu, Pb & Zn sulphide mineralisation.
Follow up drilling is expected to take place in the new year.