Cultural Heritage Agreement and JV Signed Between New Century and Traditional Owners

New Century Resources (ASX:NCZ) has announced that it has executed a Cultural Heritage Management Plan (CHMP) with the Waanyi Registered Native Title Body Corporate (Waanyi PBC), providing Traditional Owner consent for the development of the South Block Mineral Resource at the Century Zinc mine in Queensland.

The CHMP is an instrument under Queensland’s Aboriginal Cultural Heritage Act (2003). The compensation arrangements associated with the CHMP provide ongoing direct benefits to the Waanyi People, with the parties also signing a Mining Services Agreement (MSA) with the Waanyi Downer 50:50 Joint Venture (WDJV) to undertake works associated the mining of South Block.

As highlighted in the press release:

• Waanyi Traditional Owners provide consent for New Century to progress development of mining operations over the South Block Resource
• Industry first compensation arrangement includes operational participation for Traditional Owners through a Mining Services Agreement with Waanyi Downer JV
• Total South Block Indicated Mineral Resource: 6.1Mt at 6.8 percent zinc-lead (5.3 percent zinc, 1.5 percent lead, 43g/t Ag); containing 322,000t zinc, 90,000t lead and 8.5Moz silver
• Total In-Situ Indicated & Inferred Mineral Resources (excl. Tailings Ore Reserve): 9.3Mt at 10.8 percent zinc-lead (6.1percent zinc, 4.7 percent lead, 66g/t Ag); containing 568,000t zinc, 433,000t lead and 19.9Moz silver
• Expansion PFS, assessing the potential for addition of the In-Situ Mineral Resources into scheduled tailings operations, remains on track for completion in Q3 2018

Click here to view the full New Century (ASX:NCZ) press release.