- Inca Minerals (ICG) has been awarded two co-funding grants to conduct airborne survey work in the East Tennant region of the Northern Territory
- The grants are valued at $100,000 each and were given by the Northern Territory Department of Industry, Tourism and Trade
- Inca Minerals will use the first grant to fund survey work at various tenements within its Frewena Project to refine future drilling targets
- The second grant will fund a small survey program at the Jean Elson Project to test its iron oxide-copper- gold potential
- Company shares are trading steady at 13.5 cents
Inca Minerals (ICG) has been awarded two co-funding grants to conduct airborne magnetic and radiometric (AMAGRAD) surveys.
The grants were given by the Northern Territory Department of Industry, Tourism and Trade under its Geophysics and Drilling Collaborations program.
Both grants are valued at $100,000 each with the first to help fund Inca's 58,171-line-kilometre AMAGRAD survey in the East Tennant region.
The survey will focus on the Frewena East and Frewena Frontier tenements, as well as a small part of the Frewena Far East Project that wasn't targeted during survey work last year.
Inca Minerals will conduct the survey over the entire Frewena project area to improve target definition for future drilling programs.
The second grant will co-fund the 30,026-line-kilometre AMAGRAD survey over the Jean Elson Project in the same region.
The Jean Elson survey will cover the Mount Cornish South and Camel Creek prospects to further unlock the iron oxide-copper- gold potential of the project.
Both surveys are expected to be conducted between July and September this year.
Inca Minerals' shares were trading steady at 13.5 cents at 1:10 pm AEST.