PERTH (miningweekly.com) – ASX-listed junior New Century Resources has reported a 23% increase in the zinc metal content at the Century tailings deposit, in Queensland.
The tailings deposit is estimated to host a measured resource of 78.9-million tonnes, at 3.02% zinc, 0.47% lead and 12.4 g/t silver for a total contained metal content of 2.38-million tonnes of zinc, 370 000 t of lead and 31.5-million ounces of silver.
“New Century is excited to announce this significant increase in metal content for the Century tailings deposit. The scale of this measured resource clearly provides an opportunity for substantial operations to be undertaken on site via the near-term restart of the existing processing plant,” said New Century MD Patrick Walta.
“In addition, it is pleasing to see that resources at the deposit have achieved a measured resource category, representing the highest confidence level possible under the Joint Ore Reserves Committee code for mineral resource reporting.”
Walta said that the company was now targeting conversion of the new resource to a reserve, as part of the restart study, which was due in the fourth quarter of this year.
The Century mine was the third-largest zinc mine in the world prior to its closure in 2016.