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New Century Resources (ASX:NCZ) - Managing Director, Patrick Walta (left) - The Market Herald
Managing Director, Patrick Walta (left)
Source: North Queensland Register
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  • New Century Resources (NCZ) has reported grades of up to 425g/t silver at its Silver King deposit which is part of the Century Zinc Mine in Queensland
  • The company began a 30-hole drilling program to upgrade the historical deposit's resource to the measured and indicated category
  • The best result is 9.5 metres at 48.6 per cent lead equivalent including 425g/t silver from 174.4 metres
  • Results from the other 23 drill holes are expected to be received over the next six to eight weeks
  • Company shares are up 2.78 per cent and are trading at 18.5 cents

New Century Resources (NCZ) has reported high-grade results from drilling at the Silver King deposit which is part of the Century Zinc Mine in Queensland.

The 30-hole resource definition drilling program began in January and aimed to upgrade Silver King's existing resource to the measured and indicated category.

The historical deposit's current resource sits at 2.7 million tonnes at 16.9 per cent lead equivalent, which consists of 12 per cent lead, 6.9 per cent zinc and 120g/t silver.

Today's results include assays from the first seven holes — all of which intersected mineralisation.

The best result include 9.5 metres at 48.6 per cent lead equivalent including 425g/t silver from 174.4 metres.

Other pleasing results include 2.2 metres at 45.7 per cent lead equivalent including 288g/t silver from 247.3 metres and 3.2 metres at 40.7 per cent lead equivalent including 528g/t silver from 183.6 metres.

Results from the other 23 drill holes are expected to be received over the next six to eight weeks.

The drill rig will now move to the Millennium target, which is located north of the existing open pit.

Company shares are up 2.78 per cent and are trading at 18.5 cents at 12:45 pm AEST.

NCZ by the numbers
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