New Century Resources : NCZ hits 9.5m at 48.6% PbEq inc 425g/t Ag at Silver King

ASX / MEDIA ANNOUNCEMENT	ASX: NCZ
	12 April 2021

New Century hits 9.5m at 48.6% PbEq, including 425g/t Ag,

from 174m at the Silver King Lead-Zinc-Silver Deposit

Highlights:

• Stunning high-grade assays from the first seven holes of New Century's thirty-hole program at Silver King, with all drill holes to date intercepting mineralisation:

			Drill #				Intercept				Grade (PbEq)				Depth					Element Grades
															Pb				Zn				Ag
			SK21_027			9.5m	48.6%				174.4m	45.5%	4.1%				425g/t
			SK21_025			2.2m	45.7%				247.3m	42.2%	4.70%				288g/t
					14.2m	15.8%				223.1m	7.70%	11.6%				44g/t
			SK21_029			3.2m	40.7%				183.6m	34.5%	8.40%				528g/t
							5.8m	33.5%				133.2m	31.0%	3.40%				218g/t
			SK21_023			7.9m	10.7%				268.7m	4.70%	8.60%				24g/t
							4.0m	10.6%				187.1m	7.20%	4.90%				54g/t
			SK21_018			2.9m	22.3%				130.7m	20.1%	2.90%				208g/t
			SK21_015			1.2m	18.3%				191.0m	9.60%	12.4%				88g/t
					9.7m	14.0%				163.3m	12.8%	1.70%				82g/t
			SK21_021			3.4m	16.9%				103.3m	8.60%	11.7%				42g/t
					1.3m		15.5%				115.8m		10.1%			7.70%				122g/t

Figure 1. Drill core from hole SK21_027 massive galena showing part of the intersection of

9.5m @ 45.5% Pb, 4.1% Zn, 425g/t Ag from 174.4m

New Century Resources Ltd

Office Level 4, 360 Collins Street, Melbourne VIC 3000

Phone [phone]

Email [e-mail]

Website www.newcenturyresources.com

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Figure 2. Silver King long section showing highlight intercepts & exploration potential

• The Silver King vein remains open down plunge, with a current Inferred Resource of 2.7Mt @ 16.9% PbEq (12% Pb, 6.9% Zn, 120g/t Ag)
• Further exploration upside potential through identified high-grade veins both parallel to and splayed from the main Silver King mineralisation zone
• Remaining 23 Silver King drilling assays due over the next 6 to 8 weeks
• Three additional holes completed for metallurgical testing and ore sorting work programs, with a further three geotechnical holes also completed at key infrastructure locations
• The drill rig is now moving to the Millennium target north of the existing open pit, targeting dislocated blocks of the original Century orebody

New Century Resources Limited (NCZ, New Century or the Company) (ASX:NCZ) is pleased to update the market on the progress of drilling activities at the high grade Silver King Lead-Zinc- Silver Deposit, located at the Century Zinc Mine in Queensland.

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Silver King Drilling Update

Infill drilling has been completed at the Silver King Lead-Zinc-Silver Deposit for the purpose of upgrading the existing Mineral Resource estimate to support subsequent mining studies and detailed mine design. This includes:

• 30 diamond drillholes 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.

Figure 3. Project location and resource definition hole collars

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.

Assays for the remaining 23 holes are anticipated to be available over the next 6 to 8 weeks. The Company will provide an update to the market as these results become available.

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Table 1. Silver King drilling program composite assays results

1. Downhole interval
2. Length weighted average of measured specific gravity values by water immersion method

Century Plant (~2km)

Haul Road	Drilling Rig
to Plant

Underground Resource Area

(2.7Mt @ 12.5% Pb, 6.9% Zn & 120g/t Ag)

Historical Silver King Workings

(Intermittent mining 1890s - 1950s:

15 shafts to depth of ~60m)

Figure 4: Historical mine workings at Silver King

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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.

Figure 5. Silver King targets for proposed exploration showing existing drill collars

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