New Century Resources Limited has completed infill drilling at the Silver King Lead-Zinc-Silver Deposit, located at the Century Zinc Mine in Queensland. The aim of the program was to upgrade the existing Mineral Resource estimate to support subsequent mining studies and detailed mine design. The program involved:
- 30 diamond drill holes completed for a total of 5,468m drill metres.
- Spectacular assay results have been received from seven holes to date, and assay results are pending from the remaining 23 holes.
- Three additional large-diameter PQ holes have been completed to provide samples for metallurgical recovery test-work and ore sorting feasibility work programmes.
- Three geotechnical holes at key infrastructure locations have also been completed.
Initial assay results have been received from seven of the 30 holes completed as part of the program. All drill holes intercepted mineralisation, with the results delivering several massive galena hits and strong widths as detailed in the table below.
The company advises that assays for the remaining 23 holes are anticipated to be available over the next 6 to 8 weeks. New Century will provide an update to the market as these results become available.
Further exploration potential at Silver King
In addition to the exploration activities associated with the currently identified Silver King vein, recent reinterpretation of historical geological data by the New Century team has identified potential for additional high-grade vein structures, both parallel and offset to the current Silver King vein. These have been identified as Area B and Area C below:
Area A: Potential for mineralisation along strike and down plunge of the existing Silver King Mineral Resource. This zone already has several intercepts at depth as result of historical drilling activities on the main Silver King vein and is considered a high potential area for extensions to the Mineral Resource.
Area B: Targets a continuation of the historically mapped Vein no. 4 and Vein no. 5, which are splays of the main Silver King structure.
Area C: A continuation of the historic Queenslander workings the structure is blind at surface but showed an anomalous Galvanic Sub-Audio Magnetic (GSAM) response in 2014 which has not been tested. The structure is potentially contemporaneous with Silver King and may have tapped the same metal-bearing fluid source.