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New Century Resources Ltd.
Summary
| Project: | Century Mine | |
|---|---|---|
| Deposit: | Watsons Lode | |
| Location: | Australia | |
| Commodities: | Zinc-Lead-Silver | |
| Date: | 8/24/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 24-8-2017: New Century Resources Ltd. announces an Exploration/Drilling Update report for its Watsons Lode deposit at the Century Mine project. Drilling results incl. 14m @ 25.93% Zn, 9.35% Pb, 52.86g/t Ag from 33m. New Century Resources Limited (Company | |
| Resources: | (not mentioned in this report) | |
| CP/QP: | [Overall Report]: Terry Lees (Internal) | |
| ABSTRACT: | New Century Resources Limited (Company or New Century) (ASX: NCZ) is pleased to announce the results of a preliminary review and verification of historical drilling information from the prospect known as Watsons Lode at the Century Zinc Mine. As outlined in the Independent Geologist’s Report in the Company’s Prospectus (see ASX announcement dated 20 June 2017), Watsons Lode represents a high priority prospect requiring follow up drilling. Watsons Lode is located on the exploration permit (EPM 10544) surrounding the Century mining leases and is approximately 10km from the existing Century Processing Plant. Watsons Lode is one of many prospects in the vicinity of the Century Zinc Mine, with 40 targets identified to date. Numerous high-grade intersections have been reported from historical drilling at Watsons Lode as well as historical mining development and production. During previous small scale operations the Watsons Shaft was sunk to 100ft and combined with Lucky Dollar and Coughlans Lode produced 176t of lead and 1,100oz silver. A long section of the main part of Watsons Lode is shown in Figure 3. Commenting on Watsons Lode New Century Resources Managing Director Patrick Walta said: “The historical drilling results from Watsons Lode show this Prospect has the potential to deliver a high-grade resource with strong geological similarities to the Silver King deposit. The Company is now planning a drilling program over the Prospect with the aim of bringing the existing mineralisation into a compliant Mineral Resource. Any additional resources from Watsons Lode will compliment other established in-situ Mineral Resources from Silver King, East Fault Block and the recently identified mineralisation at South Block. These identified resources and prospects in turn provide significant additional value beyond the Century Tailings Deposit which is the current focus of initial development.” | |
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