- Inca Minerals (ICG) completes a review of hole FW220009 which was drilled at the Mount Lamb NE prospect, part of the Frewena Group project in the Northern Territory
- This hole was drilled to a depth of 1051 metres to follow up on a hole which intersected a 500-metre interval of IOCG-style alteration and visual copper, lead and zinc sulphides
- FW220009 reportedly intersected wide intervals of alteration and sulphides which Inca says expands the IOCG footprint to two kilometres at the Mount Lamb NE prospect
- Hole FW220010 is currently underway to test a gravity anomaly and has so far intersected the first intrusive rocks to be recorded at Mount Lamb
- ICG shares are down 12.8 per cent to trade at 7.5 cents as of 1:36 pm AEST
Inca Minerals (ICG) has completed a review of hole FW220009 which was drilled at the Mount Lamb NE prospect, part of the Frewena Group project in the Northern Territory.
The hole was completed to a 1051-metre depth as a follow-up of a “highly encouraging” hole FW220007 which intersected a 500-metre interval of iron oxide copper-gold (IOCG)-style alteration with visual copper, lead and zinc sulphides.
Inca Minerals said FW220009 intersected wide intervals of zoned haematite, magnetite and dolomite alteration with visual observations of rare-trace copper and zinc sulphides.
The company said the alteration and sulphides seen in the hole expands the IOCG footprint to a two-kilometre strike length in this area of the Mount Lamb NE prospect.
The review also confirms Inca’s exploration model and geophysical modelling.
Inca is now drilling FW220010 which is currently at 440.3 metres of its planned 1000-metre depth. This hole was designed to test a strong gravity anomaly occurring beneath the peak of Mount Lamb.
So far, the hole has intersected a thick sequence of intrusive rocks from 189 metres downhole which are the first intrusive rocks to be recorded at the Mount Lamb prospect.
FW220010 will be the final hole drilled under the phase one Frewena reconnaissance drilling program.
Looking ahead, the company intends to complete a detailed review of all of the data from Frewena to determine the best next steps for the project.
ICG shares were down 12.8 per cent to trade at 7.5 cents at 1:36 pm AEST.