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- Inca Minerals (ICG) is undertaking additional work at the newly identified Jumping Spider target at the Frewena Group Project in the Northern Territory
- ICG says Jumping Spider is a high-priority target, with ground gravity and airborne magnetic-radiometric survey planned to refine drill targets
- The surveys are due to begin in July, with drilling scheduled to start in September, but COVID-19 restrictions may affect ICG’s timeline
- Meanwhile, the materials stock says drilling at Riqueza in Peru continues to progress slowly, with only 20 metres penetrated each day
- ICG shares are trading up 4.17 per cent at 12.5 cents per share
Inca Minerals (ICG) is undertaking additional work at the newly identified Jumping Spider target at the Frewena Group Project in the Northern Territory.
The iron oxide copper gold (IOCG) targets at Frewena were identified last week, with the largest of those targets named Jumping Spider.
This target runs approximately 12 kilometres across and comprises semi-coincident magnetic-high and gravity-high anomalies.
It’s located in the eastern part of Frewena and ICG said it spreads onto the adjacent Newcrest Mining (NCM) and Middle Island Resources (MDI) tenements.
ICG has labelled Jumping Spider a high priority target, with ground gravity and airborne magnetic-radiometric survey being planned to better refine its drill targets.
The surveys were due to begin in July, with drilling scheduled to start in September, but ICG said COVID-19 restrictions could affect the timeline.
Meanwhile, ICG has also provided an update on the work being undertaken at the Riqeuza project in Peru.
The company said drilling continues at the first hole, however progress is slow, as only 20 metres were being penetrated each day.
ICG said the slow penetration rate was due to poor ground conditions, and the risk of losing the drill bit.
Inca Minerals shares were trading up 4.17 per cent at 12.5 cents per share at 11:44 am AEST.
