Ann: 4.55% Copper in Rockchip Results on New Riqueza Concession, page-2

4.55% COPPER IN ROCKCHIP RESULTS ON NEW RIQUEZA CONCESSION
IN THIS ANNOUNCEMENT
• Description of mapping and assay results from the Ccarhua I Mining Concession Application south of
Riqueza and the significance of results
• Description of the main land holders in the vicinity of Riqueza
• Competent Person Statement, Key words and ASX JORC 2012 compliance statements (Appendix 1)
HIGHLIGHTS
• Significant mineralisation is identified in the new Ccarhua I mining application area
• Two new targets are generated, Cerro Vicuña and Cerro Ccarhua
• High copper grades at Cerro Vicuña include:
o 4.55% Cu BM-0062 (3m x 5m composite sample)
o 3.73% Cu BM-0063 (2m x 1m composite sample)
o 3.08% Cu BM-0064 (4m x 4m composite sample)
• Phyllic alteration, elevated Cu-Ag-Mo and small porphyry intrusion are found at Cerro Ccarhua
• Cerro Vicuña and Cerro Ccarhua are along strike from known gold-silver-copper epithermal and goldsilver-copper porphyry occurrences to the near southeast
• Ccarhua I is an uncontested mining concession application lodged by the Company in September 2020
Inca Minerals Limited (Inca or the Company) has received results from a very brief reconnaissance ridge-top
mapping and sampling program (program) recently conducted within Inca’s Ccarhua I mining concession
application area (Ccarhua I), located south of the Company’s Riqueza Project. This work is part of a larger
program to find possible southern extensions of the Riqueza mineralised system, and/or to find possible new
mineralised systems centred in the south.
As a result of the cancellation of a number of third-party owned mining concessions, a large area south of
Riqueza became subject to a mining concession moratorium. This moratorium came to end on 1 November 2020.
Competing applications from Inca and Anglo America were lodged on the first available business day, as detailed
in a previous ASX announcement (18 November 2020).
Prior to this claim activity by Inca and Anglo American, in September 2020 Inca had lodged two mining concession
applications, Ccarhua I and Gutierrez II, over two areas that were free of title and not subject to the moratorium.
This ASX announcement describes mapping results from ridge-top traverses and gold (Au), silver (Ag), copper
(Cu), lead (Pb), zinc (Zn) and molybdenum (Mo) geochemistry results for 24 rockchip samples collected within
the uncontested Ccarhua I mining concession application area.
New Targets at Cerro Vicuña and Cerro Ccarhua
Ridge-top mapping and sampling conducted at Ccarhua I has identified two new zones of alteration and
mineralisation, which have been quickly elevated to drill target status. The first new target, known as Cerro
Vicuña, hosts Cu mineralisation with a peak value of 4.55% Cu (sample BM-0062) (Table 1 and Figure 2).
The outcrops that were mapped and sampled at Cerro Vicuna host secondary copper mineralisation (malachite,
chrysocolla and azurite) associated with argillic and sericite altered, brecciated and/or faulted and veined
volcanic rocks