- Inca Minerals (ICG) confirms the presence of copper, gold and silver mineralisation at the Frewena project in the Northern Territory’s East Tennant province
- This follows a data review of a hole drilled to a 416-metre depth at the Mount Lamb prospect
- Inca says the metal assemblage found within the hole validates the potential of iron oxide copper-gold and iron sulphide copper-gold at Mount Lamb
- The data has helped to form the basis of a 12,000-metre drilling program that recently commenced at the Mount Lamb, Jumping Spider and Roadhouse areas
- Company shares have been trading down 16.1 per cent at 13 cents
Inca Minerals (ICG) has confirmed the presence of copper, gold and silver mineralisation at the Frewena project in the East Tennant province of the Northern Territory.
This comes after a review of assay and whole-rock data by Geoscience Australia for government drill hole NDIBK04.
NDIBKO4 was drilled to a 416.3-metre depth and targeted large-scale magnetic-gravity features at the Mount Lamb prospect within the project.
Approximately 250 metres downhole, the drill hole returned peak metal enrichment within a zone of veining with minerals such as pyrite, chalcopyrite, arsenopyrite and quartz.
Intercepts from the zone include 0.25 metres at 1.12 g/t gold and 12.3 g/t silver from 249.5 metres, and one metre at 0.27 per cent copper, 0.13 g/t gold, 5.94 g/t silver, and 395 parts per million copper from 252.25 metres downhole.
According to the company, the metal assemblage provides supporting evidence of the iron oxide copper-gold/iron sulphide copper-gold potential of the Mount Lamb prospect.
Inca Minerals said the confirmation of copper, gold and silver mineralisation, closely associated with iron oxide alteration and iron sulphide minerals, is a strong result as it validates the company’s decision to be an early-stage mover in the East Tennant region.
The data has helped to form the basis of a 12,000-metre drilling program that recently commenced at the Mount Lamb, Jumping Spider and Roadhouse areas.
Company shares were down 16.1 per cent to trade at 13 cents at 12:03pm AEST.