- Inca Minerals (ICG) completes five holes, for around 2756 metres, at the NE area of its Riqueza project in Peru
- One of the holes return low-grade, yet anomalous, mineralisation in a limestone sequence which may indicate a metal-bearing hydrothermal intrusive system at depth of the Puymanpata porphyry target
- Inca Minerals will now drill the sixth hole next to test deeper into the Puymanpata target
- Company shares are down 16.7 per cent to trade at 11.3 cents at 12:21 pm AEST
Inca Minerals (ICG) has completed five holes, for around 2756 metres, at the NE area of its Riqueza project in Peru.
The program’s main focus is to test the Pucamachay and Puymanpata porphyry targets. The latter is interpreted to have a large hydrothermal system below three diamond holes which is believed to be responsible for widespread brecciation and veining, alteration and mineralisation.
Inca received assays for the first hole, RDDH024, which returned low-tenor but anomalous gold, silver, lead and zinc mineralisation.
According to the company, the presence of the low-grade mineralisation in a limestone-dominated sequence is significant because limestone itself is generally un-mineralised. The company believes this may indicate a possible metal-bearing hydrothermal intrusive system at depth of the Puymanpata porphyry target.
The sixth hole will be located on platform RP03 to test for potassic alteration, manto-style mineralisation, mineralised breccias, exo-skarn mineralisation, and endo-skarn and porphyry-style mineralisation within a porphyry stock.
Company shares were down 16.7 per cent to trade at 11.3 cents at 12:21 pm AEST.