- New Century Resources (NCZ) has intersected up to 1005g/t silver from the Silver King Lead-Zinc-Silver Deposit in Queensland
- Drilling began in January to define a mineral resource at the deposit
- As well as the high-grade silver, up to 59.7 per cent lead and 21 per cent zinc has also been returned
- The company will use the results to support an updated mineral resource estimate which is expected to be released in Q1 FY22
- Shares in New Century are up 9.76 per cent and are trading at 22.5 cents at 11 am AEST
New Century Resources (NCZ) has intersected up to 1005g/t silver from the Silver King Lead-Zinc-Silver Deposit.
Silver King is part of the Century Zinc Mine which lies 250 kilometres northwest of Mount Isa in Queensland.
New Century began a diamond drilling program in January to define a mineral resource at Silver King.
The deposit currently 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.
Results have been received from an additional 12 holes with grades further confirming the continuity of the mineralisation.
Best results include 1.9 metres at 59.7 per cent lead, 7.7 per cent zinc and 1005g/t silver; and one metre at 6.4 per cent lead, 21 per cent zinc and 11g/t silver.
New Century will use the results to support an updated mineral resource estimate which is expected to be released in Q1 FY22.
Additionally, the company has chosen to extend the drilling program and has planned two additional holes within the historical mining area.
Shares in New Century were up 9.76 per cent, trading at 22.5 cents at 11 am AEST.