Oct 21, 2020

Studies continue on Century mining opportunities

Studies continue on Century mining opportunities

New Century Resources is continuing optimisation studies as it heads towards a decision in 2021 on whether to mine three key deposits to extend the Century zinc operation’s life.

In addition to the tailings deposit that New Century is currently exploiting, the Century site hosts significant mineral resources in the South Block, East Fault Block and Silver King deposits.

In its quarterly report the company said its technical services team had continued working with various mining industry technical consultants in the development of optimisation studies over each of these deposits.

The work to date had seen strong improvements to the overall in-situ mine plan, metal production profiles and projected operating costs, it said.

The outcome would allow New Century to make a decision in 2021 on
integrating these mineral resources into the current life-of-mine production profile.

The mineral resources at the three deposits stand at 9.4Mt at 10.7 per cent zinc and lead.

An expansion study completed last year showed New Century Resources would add seven years to the zinc operation’s mine life through a proposal to start open-cut mining in addition to its tailings reprocessing operations.

At the time, the capital cost to starting the in-situ mining was estimated at $55 million or $97 million, depending on whether the company mined its South Block and East Fault Block operations alone or mined all in-situ deposits (concurrent with tailings operations).