ICG could have a run , announcement outDual Prospectivity of...

ICG could have a run , announcement out


Dual Prospectivity of Chanape Firms
HIGHLIGHTS
Proximity to possible economic grade mineralisation lateral to or below drilled section of mineralised monzonite porphyry indicated
World authority on epithermal gold and porphyry mineralisation, Mr Jeffrey Hedenquist, visits Chanape and inspects diamond core from CH-DDH001
Multiple phases of inter-porphyry brecciation and porphyry intrusion recognised in core
Detailed core logging of CH-DDH001 confirms lithology, alteration and mineralisation are typical of Cu-Mo porphyry systems
Active exploration continues
Chanape Exploration Bolstered by Experts’ Reports
Following its breakthrough discovery of mineralised monzonite porphyry and the intersection of rich epithermal gold and silver mineralisation in its maiden drill hole (reported in the previous quarter) Inca Minerals Limited [ASX: ICG] (“Inca” or “Company”) has actively pursued its 2013 exploration program (as outlined to the Market on 27 February 2013).
As part of this program, two recent independent experts’ reports have significantly de-risked the Chanape project and confirmed Inca’s view of:
? The genuine opportunity to prove up near-surface epithermal gold-silver resource targets.
? The existence of possible economic grade mineralisation lateral to or below the drilled section of the mineralised monzonite porphyry.
? Aggressively progressing exploration activities to facilitate optimal targeting and thereafter drilling for both the epithermal breccia occurrences and an underlying mineralised porphyry.
The first of the independent expert’s reports was prepared by Mr Jeffrey Hedenquist, a recognised world authority on epithermal gold and porphyry mineralisation. Mr Hedenquist completed a site-visit where he observed the Chanape project geology and inspected the diamond core of CH-DHH001. Mr Hedenquist’s report, entitled “Observations on the Chanape Au-Ag, and Cu-Ag Prospect, Peru”, has excited the Company, re-affirmed its confidence in the Chanape project and facilitated important improvements to the exploration and development program. The full and unabridged summary and recommendations from the Hedenquist report are attached to this ASX announcement as Appendix 1.