YTC has acquired the Hera Gold Project in NSW with hopes of boosting base metal exploration and developments in central NSW.
The agreement with CBH Resources includes the underdeveloped Hera gold-base metal deposit, which is expected to hold great potential for development.
Chief Executive Officer Rimas Kairaitis said the agreement will allow the company to expand the existing resource at Hera and contribute to a strong mining future in the central-west.
“The Hera Project offers outstanding exploration potential and will allow YTC to capitalize on high grade production asset with excellent exposure to the gold market,” he told MINING DAILY.
The development may provide up to 50 jobs and is expected to kick start a range of infrastructure upgrades in the Cobar region.
YTC expects to advance the project within two years; however, the final scale of the mine is yet to be finalized.