Independent expert review of integrated geophysical and geochemical data confirms outstanding new targets
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Highlights
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• Independent review of geophysical data identifies a 5km x 10km porphyry target in the centre of the MaCauleyCreek Project area, defined by multiple coincident anomalies and prospective characteristics, including gravityand magnetic anomalies and hydrothermal alteration• The new porphyry target coincides with numerous known occurrences of porphyry-style mineralisation recordedin historical small-scale mining, surface sampling and non-Inca drilling• Independent geophysical review also identifies a new, unexplored skarn target in the south-eastern part of theProject area, further strengthening MaCauley Creek’s skarn potential• Additional exploration including geophysics (airborne magnetics, ground gravity and induced polarisationsurvey) now being assessed to further refine high-quality drill targets across the Project• Inca continues to build a case to drill test for Tier-1 scale porphyry and skarn mineralisation at MaCauley Creek
Inca Minerals Limited (ASX: ICG) is pleased to advise that an independent review of geophysical and geochemical data from its
100%-owned MaCauley Creek Project, located 100km west of Townsville in Queensland, has identified major new porphyry and
skarn targets, significantly upgrading the project’s exploration potential. The independent review, conducted by an expert consultancy, comprised a detailed assessment of historical (non-Inca)
geophysical data, together with geochemistry data (soil and rock chip sampling) collected both by Inca and by previous owners.
Among its key findings, the review has identified a centrally located porphyry target measuring approximately 5km x 10km,
which broadly correlates to a previously identified magnetic ring feature and two previously interpreted intrusions (Figure 1). This
target has been named the “Brolga Prospect”.
Importantly, the new Brolga Prospect porphyry target also corresponds to multiple past mine workings and prospects (Figure
1) that have recorded bonanza-grade silver (Ag) mineralisation and strong copper (Cu) mineralisation in past rock chip sampling.
Historical (non-Inca) drilling in the same area identified Cu-Ag-lead-zinc (Pb-Zn) mineralisation in shallow, supergene enriched
lodes and primary sulphide mineralisation at deeper levels within telescoped microgranite intrusions. In addition to the major porphyry target, the review also identified a new skarn target in the south-east corner of the MaCauley
Creek Project area (Figures 1 and 2), which has been named the “Mount Podge Prospect”. This area hosts a known granite
intrusion, a regionally mapped limestone sequence and a satellite iron (Fe) oxide anomaly. No historical exploration data is
reported in the vicinity of this target, with the Mount Podge Prospect area considered a priority target for follow-up
reconnaissance exploration.
These new targets are in addition to the those previously identified in the northern half of the project (see ASX announcement
28 September 2020), which include the Mount Brown, Wallaroo and Carraway North prospects (Figure 2).
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The results of the independent expert review strongly reinforce the MaCauley Creek Project’s stand-out porphyry-skarn
potential, with Inca Minerals now planning to undertake a further assessment of key prospects to identify primary targets for
a future high-impact drilling program.
ICG Price at posting:
11.5¢ Sentiment: Hold Disclosure: Held
