From Barry FitzGerald this morning:"The primer for this year’s...

From Barry FitzGerald this morning:

"The primer for this year’s Resources Rising Stars two-day investor conference at Royal Pines on the Gold Coast was for the 650 investors and miners/explorers in attendance to “be on the right side of the BOOM”................

Inca Minerals (ICG) hosted one of the busiest booths at the conference thanks to the excitement over its Mount Lamb prospect at its Frewena project area, a couple of hundred kilometres east of Tennant Creek in the Northern Territory.

Thanks to earlier government work, the region to the east of Tennant Creek is considered a potential new province for big iron oxide copper gold (IOCG) systems like Olympic Dam in South Australia and Ernest Henry in Queensland. It can now be said that recent drilling by Inca has raised the excitement levels around that proving to be the case.

On display at the Inca booth were core examples of all the types of rock an explorer would hope to encounter in the IOCG hunt.They came from the first diamond drill-hole at Mount Lamb which returned a 500m-plus interval that displayed strong IOCG-style alteration minerals with variable levels of copper, zinc and lead sulphides.

“The down-hole vertical variation of haematite, magnetite and albite, which is strongly reminiscent of IOCG alteration zoning, is a particularly pleasing result,” Inca said.

While geochemical assaying is required to test for the occurrence and grade of potential precious (gold and silver) and base metals (copper, lead, zinc), Inca reckons the observed geology in the hole “strongly validates the IOCG exploration model in this portion of Mount Lamb”.So it is early days but exciting, nevertheless.

A second hole is underway at Mount Lamb and there will be follow up drill holes to the first diamond hole. Inca popped to as high as 13c on Monday from the previous close of 7.7c. It has since settled back at 10.5c for a $44m market cap."