Join our daily newsletter At The Bell to receive exclusive market insights
- Junior resource company Inca Minerals (ICG) has reported finding visible copper at its Jean Elson Project in the Northern Territory
- Inca recently carried out a field trip to Jean Elson’s Camel Creek Target and Mt Cornish South Targets
- It was here the company sighted visible outcropping of Cu-Fe mineralisation and further significant extensions
- Inca is now awaiting assay results from recent sampling from Jean Elson and has flagged further drilling at the site once licences are issued
- Shares in ICG have ended the day trading down 7.94 per cent at 5.8 cents each
Inca Minerals (ICG) has reported finding visible copper at its newly acquired Jean Elson Project in the Northern Territory of Australia.
The project is a joint venture between Inca Minerals and MRG Resources and consists of two Exploration Licence (EL) applications.
Inca has the controlling stake in the project and announced it recently carried out a field trip to Jean Elson’s Camel Creek Target and Mt Cornish South Targets.
The trip was designed to confirm historic records of Cu-Au-Ag-Fe-U at the two targets, as well as to take dozens of samples for analysis.
It was here at Camel Creek and Mt Cornish the junior resources company sighted visible outcropping of Cu-Fe mineralisation, indicating significant extensions.
Inca’s Managing Director Ross Brown said the findings also greatly enhances Jean Elson’s iron ore-copper-gold (IOCG) credentials
“With such increased knowledge of the mineralisation at Jean Elson, it has become materially more prospective,” he said.
“As a result of our own recent work we have indications of even stronger copper and iron mineralisation over a far greater area,” he added.
Inca is still awaiting the assay results from the samples taken at Jean Elson, which it expects back in the next two to three weeks.
The company is planning to carry out further exploration work, including drilling, at the project once the EL’s have been granted.
Following the update, Inca Minerals’ shares ended the day trading down 7.94 per cent at 5.8 cents each.
