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- Inca Minerals (ICG) confirms the iron-oxide-copper-gold (IOCG) prospectivity of the Roadhouse target within its Frewena Group project in the Northern Territory
- The company says an initial review of a diamond hole drilled at the Roadhouse target detected IOCG-style alteration and sulphide occurrences within the hole
- Further, Inca believes the alteration and vein varieties in the hole could indicate IOCG hydrothermal activity
- The company is continuing drilling work in other areas of the project and awaits detailed logging and assay results to guide its next steps
- Shares in Inca Minerals were up 3.75 per cent to 8.3 cents each at 10:11 am AEST.
Inca Minerals (ICG) has confirmed the iron-oxide-copper-gold (IOCG) prospectivity of the Roadhouse target within its Frewena Group project in the Northern Territory.
The company said it had completed an initial review of a diamond hole drilled at the Roadhouse target, and it detected IOCG-style alteration and sulphide occurrences within the hole.
The hole was drilled to a total depth of 961.1 metres and aimed to test a large gravity anomaly that defines the Roadhouse target.
Drilling intersected sedimentary units of the Alroy Formation lying above foliated metavolcanics and granitic rocks, with granitic rocks increasingly altered and veined with depth.
Inca said it believed the alteration and vein varieties could indicate IOCG hydrothermal activity.
The company said the hole was a positive result and served as a proof-of-concept for the Roadhouse target. Inca has yet to test the deeper and higher-tenor portion of the area.
The company is continuing drilling work in other areas of the project and awaits detailed logging and assay results to guide its next steps.
Shares in Inca Minerals were up 3.75 per cent to 8.3 cents each at 10:11 am AEST.
