YTC Resources Limited has reached agreement with Straits Resources Ltd to acquire 100% of the Doradilla tin project in north-western New South Wales. YTC was due to acquire a 70% stake in the project by spending A$1.5 million on exploration work by 18 December 2012 and will acquire the balance for A$250,000 payable in the form of YTC ordinary shares. To date YTC had funded approximately A$1.25 million of exploration expenditure, and has recently completed a 1,830m aircore drilling programme on the tenement.
The Doradilla Project lies approximately 50km south-east of Bourke, NSW, and hosts a 16km long tin-mineralised skarn referred to as the DMK Line, which hosts the tin-skarn deposits of Doradilla, Midway and 3KEL. YTC has done exploration drilling of the oxide zones of the deposits and also carried out metallurgical testing which suggested that tin fuming was a potentially viable process available to extract the tin, as long as a sufficiently large resource can be identified to make the project viable.
