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New Century Resources Ltd.
Summary
| Project: | Century Mine | |
|---|---|---|
| Deposit: | Century Tailings | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 8/14/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 14-8-2017: New Century Resources Ltd. announces an Exploration/Drilling Update report for its Century Tailings deposit at the Century Mine project. Drilling results incl. 21.7m @ 3.34% Zn, 0.79% Pb, 17.4g/t Ag from 0m. New Century Resources Limited (Compa | |
| Resources: | (Resource, I+I): 71.0Mt @ 2.73% Zn for 1.94Mt Zn 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 assays from an additional 90 holes of the tailings infill drilling program at the Century Zinc Mine in Queensland. This brings the total results received and interpreted to date to 112 holes of the 173 hole program. Drilling is now complete with results pending for the remaining 61 drill-holes. Commenting on the drilling results, New Century Resources Managing Director Patrick Walta stated: “The drilling results continue to demonstrate the homogenous nature of the Century Tailings Deposit, with highly consistent zinc, silver and lead grades throughout. We also continue to achieve zinc grades well in excess of the current the Mineral Resource. In addition, it is exciting to receive initial dry bulk density data which is significantly higher than what was assumed in the current Mineral Resource. Should these results continue then significant potential exists for an increase in total tonnage of the Deposit.” The current Century Tailings Resource stands at an Indicated Resource of 12.8Mt at 2.97% zinc and 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) had been subject to drilling prior to the 2017 program recently completed by New Century. 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 tonnage deposition data since commencement of operations in May 2000. | |
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