Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Inca Minerals (ICG) has confirmed iron ore copper-gold (IOCG) style mineralisation near its Frewena Far East Project in the Northern Territory
  • The discovery came from Geoscience Australia’s 10-hole drilling program, which was evaluating the potential for large mineralised zones in the East Tennant region
  • Two of the 10 holes are enclosed within Inca’s project and intersected IOCG-style sulphide mineralisation
  • Inca will now incorporate the data into an ongoing review of its Frewena Project and the potential of the East Tennant region
  • Company shares are up 12.4 per cent and trading at 10 cents

Inca Minerals (ICG) has received initial results from a 10-hole drilling program in the East Tennant region of the Northern Territory.

Geoscience Australia conducted the drilling program as part of the National Drilling Initiative. In the Northern Territory, drilling is aimed at evaluating the potential for large mineralised zones, such as iron ore copper-gold (IOCG) systems, in the East Tennant region.

Pleasingly, two of the drill holes intersected IOCG-style sulphide mineralisation which confirms the potential for large-scale mineral discoveries.

These holes are located on government-retained areas that are completely enclosed within Inca’s Frewena Far East Project. This project forms part of Inca’s broader Frewena Project which is prospective for tier-1 IOCG and orogenic gold mineralisation.

The holes were drilled to 351.8-metre and 416.3-metre depths, and one of them is located on Inca’s Mount Lamb target which is near to previously reported iron-rich breccias.

Mount Lamb is located above an 18-kilometre long magnetic anomaly that trends northeast-southwest through Frewena Far East and coincides with an important regional scale fault.

Inca will now interpret the results from the two holes as part of a comprehensive
Frewena Project review currently being undertaken. The review is aimed at utilising geophysical data from the East tennant region.

Company shares are up 12.4 per cent and trading at 10 cents at 11:21 am AEDT.

ICG by the numbers
More From The Market Herald

" Chalice Mining (ASX:CHN) maintains strong focus on top-tier Gonneville deposit

ASX 200-listed Chalice Mining (ASX:CHN) has had a rocky day on the ASX following the release…
White Cliff Minerals (ASX:WCN) - Technical Director, Ed Mead

" White Cliff Minerals (ASX:WCN) completes Cracker Jack drilling

White Cliff Minerals (ASX:WCN) has completed reverse circulation drilling at the Cracker Jack prospect within its…
Dreadnought Resources (ASX:DRE) - Managing Director, Dean Tuck

" Dreadnought Resources (ASX:DRE) reports delays in results as activity ramps up

Dreadnought Resources (ASX:DRE) said certain results have been delayed until February due to industry-wide obstructions.

" Antilles Gold (ASX:AAU) establishes maiden mineral resource estimate

Antilles Gold (ASX:AAU) announced the company has established the Maiden Mineral Resource Estimate (MRE) for its…