In a nutshell, apart from the budget blow out, ...
The conclusions of the review are unambiguous. Inca has identified several “zones” below Mount Lamb (Frewena Far East tenement) that are indicative of a mineralised hydrothermal system(s).The geochemical signatures of the various sections of core sampled and assayed, which contain halos of gold, silver, copper, lead and zinc, in association with magnetite and haematite alteration, are unequivocal−they are indicative of an Iron Oxide Copper Gold (IOCG) system(s) being present at Mount Lamb... compares favourably toknown IOCG systems elsewhere in the Northern Territory, Queensland, and South Australia.
The potential for discovery of significant mineralisation is considered high, however the “buried” nature of the various identified targets means... the company remains focused on securing a joint venture with a party that has the technical and financial capacity to fast track this exploration...
During this period, Inca also expanded the Jean Elson Project area through the application of a 216 block (679km2)... now covering some 2,142km2 making Inca one of the largest tenure holders in the region...
In Peru, at Riqueza South, Occorccocha II and Ccarhua II concessions were granted... They occupy a central and strategic position along the well-establishednorthwest-southeast trending epithermal-porphyry-skarn Chonta-Fault mineralised corridor. The twin coppergold epithermal and copper-gold porphyry Huancullo deposits occur immediately adjacent to Inca’s grantedCcarhua I concession.
The highlight of the half year was the review of past exploration which has indicated the occurrence ofsignificant amounts of phosphate mineralisation (ahem, ie 0.5-1.0 billion tons @ Frewena) on Inca ground...
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#LowHangingFruit #JV #NoCR
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