PYBAR prefered contractor for YTC Hera mine

YTC Resources PYBAR The project involves underground development and production mining of the Hera Deposit located in the Cobar Basin near Nymagee in Western NSW.

PYBAR has been selected as By YTC Resources (YTC) as the "preferred tenderer" for this project.

YTC Resources acquired the high-grade Hera gold-base metals project in June 2009 which will produce gold-silver doré (bullion) and a bulk lead-zinc concentrate. This commencement of this project sees YTC making the move from explorer to developer/producer.

The announcement of PYBAR’s appointment follows several months of working together to optimise the project schedule to provide the optimum outcome for both parties. PYBAR has a long-term history of development and mining in the region and like YTC, is based in Orange close to the project.

YTC Hera PYBAR Average annual production at Hera is expected to exceed 50,000 gold equivalent ounces over life of mine.  The project is expected to start early 2012 and a 7+ year mine life is expected with production of over 390,000 ounces (gold equivalent).

The development of the Hera gold mine and construction of a processing facility at the Hera site is stage 1 of the Hera-Nymagee project.  Feasibility studies are progressing on Stage 2 to evaluate the integration of the Nymagee deposit utilising Hera infrastructure.

YTC has adopted this two-stage approach to fast track first gold revenue and to establish mining and process infrastructure with a view to self-funding the development and integration of the larger Nymagee deposit.

PYBAR is delighted to be part of the highly experienced team assembled by YTC for its transition from explorer to developer/producer.