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New Century Resources has launched a drilling program at the high-grade Silver King deposit as it weighs up future mining opportunities at the Century site.

The Silver King lead-zinc-silver deposit is 3km west of the existing Century processing plant and, along with the East Fault Block, is the subject of a development study.

New Century said there was potential for near-term development of Silver King underground and East Fault Block open pit as the next mining operations at Century, with final investment decision due in the third quarter of this year.

The infill drilling at Silver King is expected to consist of 32 diamond drill-holes for about 5300m.

The aim is to build increased confidence in the existing Inferred Mineral Resource, which stands at 2.7 million tonnes at 12.5 per cent lead, 6.9 per cent zinc and 120g/t silver.

Samples will be collected for detailed metallurgical test-work, ore sorting feasibility assessment and to inform detailed mine design.

Drilling is scheduled for completion by April 2021, with an updated mineral resource estimate targeted by June 2021.

The current drilling campaign at the Century site will also include drilling in the East Fault and South Block deposits.

The company said South Block options were being assessed for longer-term inclusion into the life of mine feed.