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New Century Resources is extending its drilling program at Silver King after high-grade results including ‘exceptional’ silver assays of up to 1005g/t.

The company is weighing up the near-term development of Silver King and the East Fault Block into mining operations within its Century project in North-West Queensland, and is targeting a final investment decision in early FY22.

Assays from the latest 12 holes of the 30-hole resource definition program at Silver King delivered the strongest results to date, the company said.

They included an intercept of 1.9m at 65.7 per cent lead equivalent (59.7 per cent lead/ 7.7 per cent zinc) and 1005g/tonne silver.

Drilling has now been extended, with two further holes planned within the historical mining area near the surface outcrop of Silver King.

New Century said it saw strong potential to delineate mineralisation suitable for open-pit mining.

The results of the drilling program will be used to support an updated mineral resource estimate targeted for release in Q1 FY22.

The main Silver King vein remains open down plunge, with a current inferred resource of 2.7Mt at 16.9 per cent PbEq (12 per cent lead, 6.9 per cent zinc, 120g/t silver).