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YTC Resources welcomes new chairman

YTC Resources (ASX: YTC) has appointed Anthony Wehby as chairman, replacing Dr Wenxiang Gao.

Wehby has been an independent non-executive director and vice chairman of the company since its listing in 2007.

Gao, who has been chairman since February 2008, will remain with the company as a non-executive director.

The appointment comes at an interesting stage, with the company further proving up the potential of its 90% owned Nymagee Copper Deposit in the Cobar Basin last month with very strong infill drilling results including 10 metres at 4.2% copper and 16 grams per tonne (g/t) silver from 337 metres.

Other highlights included 25 metres at 1.9% copper and 9g/t silver from 361 metres, and 25.6 metres at 5% copper, 0.1g/t gold and 24g/t silver from 218 metres.

These results follow on from previous high grade intersections in the first two drill holes of the deeper drilling program reported earlier this month of 33.3 metres at 0.96% copper from 422.42 metres, including 1 metre at 12% copper from 438.7 metres.