New Century Resources (ASX:NCZ) - Managing Director, Patrick Walta
Managing Director, Patrick Walta
Source: Townsville Bulletin
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  • New Century Resources (NCZ) has intersected up to 580g/t silver from the Silver King Lead-Zinc-Silver Deposit in Queensland
  • In January, the company began a 30-hole infill diamond drilling program to define a mineral resource
  • Results for the first seven holes were received in mid-April where up to 425g/t silver was intersected
  • New Century has now received results from a further nine holes which saw grades peak at 49.1 per cent lead, 27.2 per cent zinc and 580g/t silver
  • Results for the remaining holes are expected to be received in the next month with New Century to provide an update once they are available
  • New Century is up a slight 1.35 per cent on the market with shares trading at 18.8 cents

New Century Resources (NCZ) has intersected up to 580g/t silver from the Silver King Lead-Zinc-Silver Deposit in Queensland.

The Silver King Deposit is part of the Century Zinc Mine which lies 250 kilometres northwest of Mount Isa.

In January, New Century began a 30-hole infill diamond drilling program at the deposit to define a mineral resource.

Currently, it has an inferred resource of 2.7 million tonnes at 16.9 per cent lead equivalent, consisting of 12 per cent lead, 6.9 per cent zinc and 120g/t silver.

New Century received first results in mid-April where a best result of 9.5 metres at 48.6 per cent lead equivalent including 425g/t silver from 174.4 metres was intersected.

At that time results for seven holes had been received and all intersected mineralisation.

New Century has today revealed it has received results from a further nine holes, bringing the total to 16.

Best new results include 1.5 metres at 49.1 per cent lead, 16.6 per cent zinc and 580g/t silver from 176.4 metres and 1.2 metres at 0.9 per cent lead, 27.2 per cent zinc and 73g/t silver.

The results received so far indicate a good continuity of the mineralisation, supporting an updated mineral resource for Q1 FY22.

Results for the remaining holes are expected to be received in the next month with New Century to provide an update once they are available.

New Century is up a slight 1.35 per cent on the market with shares trading at 18.8 cents at 12:39 pm AEST.

NCZ by the numbers
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