proactive investors article

Inca Minerals (ASX: ICG) is a share on the rise of late, having gained 543% to yesterday’s close of $0.135 compared to the low of $0.021 at the end of December.

The past two weeks has seen a phenomenal amount of shares changing hands. Last Wednesday alone the company traded 133.3 million shares and reached a high of $0.17.

Inca is certainly a stock to watch.

The company’s flagship project is the Chanape Porphyry Project, which is located in the Yanacocha Pierina gold-silver belt of Peru that hosts over 75 million ounces of gold.

All previous exploration confirms that a large porphyry system is present at Chanape, which lies near to the 1.4 billion tonne Toromocho copper-silver-molybdenum porphyry.

Coincident geophysics, geochemistry, epithermal gold, silver, copper mineralisation and alteration patterns strongly indicate the presence of a porphyry system at Chanape.

Only one of the 50 breccia pipes has been adequately drilled in first pass drilling, and it returned an intersection of more than 2 grams per tonne (g/t) gold equivalent over 100 metres from surface, which is open-ended.

Inca recently announced that the porphyry discovered at Chanape extends to the bottom of a recent drill hole. This was at a depth of 600 metres and is open ended.

The sulphide-bearing monzonite porphyry was discovered below Breccia Pipe 8.