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New Century Resources Ltd.
Summary
| Project: | Century Mine | |
|---|---|---|
| Deposit: | Century Tailings | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 8/29/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 29-8-2017: New Century Resources Ltd. announces an Exploration/Drilling Update report for its Century Tailings deposit at the Century Mine project. Drilling results incl. 18.5m @ 3.17% Zn, 0.48% Pb, 13.4g/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 the final 61 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 results of the drilling program have vastly exceeded Company expectations, showing strong potential for a material increase in both zinc grade and density across the Century Tailings Deposit. It has also been fantastic to confirm of the consistency in grades across the Deposit. With the grade profile now confirmed, New Century has an opportunity to initially target the defined higher grade sections of the Deposit, providing potential for increased zinc metal output during the first years of production.” 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. The drilling results received from New Century’s 2017 program have produced an average grade of 3.00% zinc. This represents a 10% increase on the global Mineral Resource grade of 2.73% zinc, providing potential for a material increase in global zinc grade across the Century Tailings Deposit. | |
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