I think the market has just got used to every MD talking up their projects with very few ever delivering. I think Ross has done a good job in trying to show the significance of their technical findings to date by explaining the results in laymen's terms but the market wants surety that the theoretical will turn to reality. So what is the probability that Inca is indeed sitting on multiple IOCG/ Sedex deposits.
This link analyses geophysical signatures of IOCG prospects in the Olympic Cu–Au Province.
https://www.energymining.sa.gov.au/minerals/knowledge_centre/mesa_journal/previous_feature_articles/geophysical_signatures_of_iocg_prospects
The following extracts from that paper I think break it down to something that the average person like me can understand.
"A spatial overlay analysis of known IOCG occurrences in the Olympic Cu–Au Province indicates 62.5% are within high-magnetic features, 51.9% are within high-gravity features, but 96.2% are within 1,000 m of a magnetic anomaly that has an associated gravity anomaly (within 1,000 m). Based on these statistics, coincident magnetic and gravity features within 1,000 m of each other is deemed a robust signature of most IOCG deposits.
A spatial statistics tool for analysing spatial patterns, the Getis Ord General G, was applied to the gravity and TMI anomaly datasets to test if there was evidence of spatial clustering of gravity and TMI anomalism. The analysis indicated that within the populations of anomalies of the Gawler Craton there is <1% likelihood that clustering of high-magnitude gravity and magnetic anomalies is the result of random chance (Katona and Fabris 2020). In the context of analysis of gravity and magnetic anomalism, this means spatial distribution of anomalism is demonstrably controlled by geological processes and we can confidently map anomaly clusters and spatial outliers and interpret them in the context of their potential to relate to IOCG deposits.
The tool for mapping spatial clustering is the Anselin Local Morans I (Anselin 1995), found in the ArcGISTM software package. In addition to mapping clusters and outliers, it sets a threshold for high-magnitude gravity and magnetic anomalies which, in the case of gravity anomalies, helps in further reducing the IOCG search space. For the residual gravity and TMI grids used in this analysis, the threshold is 0.4 mGals for a high-magnitude gravity feature and 136 n Teslas for a high-magnitude TMI feature."
Statistically speaking, this explains why the company has gone to great panes to get the science right before the drill bit does the talking.
The gravity high for Jumping Spider is 3mGals and Desert creek 1mGal. The only readings that I could find)
The science is telling us we have all the right combination of factors. We just need to be patient as the drill bit should ultimately shout our discoveries from the rooftop and move the share price to where it should be. Remember drill hole 4 only touched the surface of what is down there and it is 1 kilometre from the gravity highs and yet managed to find bornite.
