- Inca Minerals (ICG) gets assay results for the second and third holes of its ongoing drilling program at the NE Area within the Riqueza project in Peru
- The holes have shown anomalous levels of copper, gold, molybdenum, lead and zinc which reflects the same geochemical profile as the first drill hole
- Inca believes this indicates a mineralised hydrothermal system at depth and that the Puymanpata porphyry target is prospective for skarn and porphyry-style mineralisation
- The fourth and fifth holes have been logged and samples with assays are pending, and the sixth hole is currently in progress
- Company shares are down 3.57 per cent to trade at 13.5 cents at 12:13 pm AEDT
Inca Minerals (ICG) has received assay results for the second and third holes of its ongoing drilling program at the Riqueza project in Peru.
The drilling program’s main focus is to test the Pucamachay and Puymanpata porphyry targets within the NE Area.
Holes RDDH025 and RDDH026 have shown anomalous levels of copper, gold, molybdenum, lead and zinc in sporadic intervals. The company said this reflected the low levels of visible chalcopyrite, sphalerite and galena logged in the drill core.
Inca made the same observation with the first hole drilled which leads it to believe the geochemical profile of the three holes indicates the presence of a mineralised hydrothermal system at depth.
The company has also identified arsenopyrite in the sixth hole, which is a first for this program. Arsenopyrite is a sulphide that’s often associated with gold, copper and/or silver mineralisation. The hole was designed to test the deeper parts of the Puymanpata porphyry target, below the first three drill holes which have been assayed.
Based on core-logging and assay results for the first three holes, the Puymanpata porphyry target remains highly prospective for skarn and porphyry-style mineralisation. However no near-surface mineralisation has been identified yet.
Inca has completed logging and sampling the fourth and fifth drill holes, and assays are pending.
The core-logging results of RDDH027 and RDDH028 have led the Pucamachay porphyry target to be downgraded but re-evaluation may occur once Inca receives the assays.
Company shares were down 7.14 per cent to trade at 13 cents at 12:13 pm AEDT.