Located 1.5km south of the promising Greek goddess -named Hera deposit, the similarly-sized Zeus anomaly has been defined as a high priority drill target with planning underway to determine the extent of mineralisation.

Meanwhile an initial gravity geophysics survey of the Hera site has indicated a ‘Cobar-style’ sulphide ore deposit similar to the CSA deposit.

In a Hera exploration update, YTC has also announced plans to access a third drilling rig to advance and define its targets both at Hera and Far West Lens.

“The first survey block for the Hera to Nymagee ground gravity survey is now complete,” CEO Rimas Kairaitis reported.

“The survey was commissioned on the basis that the gravity technique has historically proved highly effective in the Cobar Basin for directly identifying the location of ‘Cobar-style’ sulphide ore deposits.

“The first survey block covered the Hera gold deposit and was designed to type the deposit response and the key observations from the gravity block are:

“The Hera Deposit has a discrete gravity anomaly response - this is consistent with the successful application of the gravity technique to other Cobar- style ore systems, most notably the CSA”.

Mr Kairaitis said a newly-discovered anomaly named Zeus was scheduled to be explored and drilled in conjunction with Hera.

“A new gravity target (‘Zeus’) has been identified - this target is of similar size, shape and strength to the Hera deposit response.

“The new Zeus gravity target is 1.5km directly south along prospective strike of the Hera deposit. The Zeus area is devoid of historical geophysics and drilling.

“The definitive response over Hera deposit and the strong similarity of the Zeus anomaly defines Zeus as a high priority drill target.

“Planning is underway to drill test the Zeus anomaly prior to Christmas, subject to environmental approvals.”