- Inca Minerals (ICG) has received encouraging results from soil sampling at its Riqueza Project in Peru
- Three multi-element geochemical anomalous areas have been recognised
- The company has also conducted a geological mapping and rock chip sample program with results and mapping is expected to be finished within 7 to 10 days
- Inca is up over 33 per cent this morning with shares trading at 0.2 cents apiece
Inca Minerals has received encouraging results from soil sampling at its Riqueza Project in Peru.
The company took 1286 samples from Riqueza to identify subtle soil geochemical expressions that may relate to hidden forms of large-scale mineralisation.
Inca also announced completing a parallel geological mapping and rock chip sample program, with 95 rock chip samples collected.
This geological mapping program is designed to follow up on the outcropping mineralisation observed during the soil program and follow up on previously unexplored targets.
Three geochemical areas have been recognised which include a limestone-hosted silver-lead-zinc ± copper area in the northeast part of Riqueza at Yanacolipa and a volcanics-hosted gold-silver-lead-molybdenum ± copper area in the central part of Riqueza at Pampa Corral-Colina Roja.
The third geochemical area includes volcanics-hosted copper-zinc-gold±(lead±molybdenum) area in the south-central part of Riqueza at Cuncayoc Copper-Ajo Orjo.
All three geochemical areas host known mineralisation and host multiple high-priority airborne geophysical targets.
Geological mapping identified previously unknown mineralisation in outcrop within these geochemical areas.
“The results of the soil program and the mapping are inseparable in terms of meaning and importance and are discussed below together,” Managing Director Ross Brown said.
“The purpose is to start drawing together different data sets to begin the process of target prioritisation. Compressing each layer, as it were, into a single plan of targets,” he added.
Inca is currently compiling and assessing the multiple data sets. Assays for the 95 rock-chip samples and subsequent assessment of results is anticipated within seven to ten days.
Inca is up 33.3 per cent on the market this morning, trading at 0.2 cents apiece at 10:10 am AEDT.