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New Century Resources Ltd.
Summary
| Project: | Century Mine | |
|---|---|---|
| Deposit: | Century Mine | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 7/27/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 27-7-2017: New Century Resources Ltd. announces an Exploration/Drilling Update report for its Century Mine deposit at the Century Mine project. Drilling results incl. 21.5m @ 3.53% Zn, 0.91% Pb, 21.8g/t Ag from 0m. New Century Resources Limited (Company o | |
| Resources: | (Resource, I+I): 71Mt @ 2.73% Zn for 1.95Mt ZnEq Metal contained at Century Tailings | |
| CP/QP: | [Overall Report]: Damian O'Donohue (Internal) | |
| ABSTRACT: | New Century Resources Limited (Company or New Century) (ASX:NCZ) is pleased to announce the receipt and interpretation of results from the initial 22 holes of the tailings infill drilling program at the Century Zinc Mine in Queensland. Commenting on the drilling results, New Century Resources Managing Director Patrick Walta stated: “The drill results received to date have exceeded the Company’s expectations. The results confirm the consistency of mineralisation throughout the deposit, both laterally and over the entire depth of each drill hole. These results also indicate a potential zinc-grade increase over the current Inferred Resource area, which previously had not been drilled. In addition, silver and lead are for the first time being systematically analysed in the drill program, allowing the potential for payable by-product metals credits to be included in the planned zinc concentrate.” The current Century Tailings Resource stands at an Indicated Resource of 12.8Mt at 2.97% zinc, Inferred Resource of 58.2Mt at 2.68% zinc for a total 71.0Mt at 2.73% zinc (1,940,000t of contained zinc metal). Only the Indicated Resource area (see Figure 1) has undergone drilling to date, which was completed by former owner MMG Limited. The process for calculation of the Inferred Resource area was via deduction of the Indicated Resource from an assumed total resource, which had been calculated from irregular tailings feed assays and unreconciled tonnages deposited since commencement of operations in May 2000. | |
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