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New Century Resources Ltd.
Summary
| Project: | Century Mine | |
|---|---|---|
| Deposit: | Century Tailings | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 9/12/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 12-9-2017: New Century Resources Ltd. announces a Resource Estimation report for its Century Tailings deposit at the Century Mine project. Upgraded mineral resource estimate for the Century Tailings deposit. Commenting on the upgraded Mineral Resource, Ma | |
| Resources: | (Resource, Meas.): 78.9Mt @ 3.02% Zn, 0.47% Pb, 12.4g/t Ag at project | |
| CP/QP: | [Resources]: Ian Glacken (Optiro Pty Ltd.) | |
| ABSTRACT: | Commenting on the upgraded Mineral Resource, Managing Director Patrick Walta stated: “New Century is excited to announce this significant increase in metal content for the Century Tailings Deposit. The scale of this Measured Resource clearly provides an opportunity for substantial operations to be undertaken on site via the near term restart of the existing processing plant. In addition, it is pleasing to see that resources at the Deposit have achieved a Measured Resource category, representing the highest confidence level possible under the JORC Code for Mineral Resource reporting. The Company is now targeting conversion of the new Resource to a Reserve as part of the Restart Study, which is due within the fourth quarter of 2017.” The Mineral Resource has been classified as Measured in accordance with the JORC Code (2012) due to the low variability and high confidence in all of the variables estimated. Furthermore, the comparison of the new Century Tailings Deposit block model grades (per year and per estimation domain) against the tailings stream grades from historical operations, representing many thousands of individual shift composite assays taken over the life of the mine, shows an overall difference of only 6%, well within the margin of error normally expected for a Measured Resource. As shown in Figure 2, the entire Century Tailings Deposit is consistently mineralised, with a notable higher grade weighting toward the south-eastern corner of the Deposit. This is also the deepest part of the Deposit, with holes averaging ~20m depth, compared to a 13m Deposit average. | |
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