ICG release positive results for first zinc drill hole

By Trevor Hoey. Published at May 11, 2017, in Small Caps

Following on from information released earlier this week regarding the identification of visible mineralisation at two of its Riqueza prospects located in Peru, Inca Minerals (ASX: ICG) confirmed on Thursday that its first drill hole at Humaspunco had intersected three sulphide zones that had previously demonstrated high grade zinc, silver and lead mineralisation.

The double dose of good news has enthused investors with shares in ICG hitting an intraday high of 1.9 cents under strong volumes. This represents an increase of 27% relative to the previous day’s close of 1.5 cents.

It should be noted that share trading patterns should not be used as the basis for an investment as they may or may not be replicated. Those considering this stock should seek independent financial advice.

The first hole (RDDH-001) is currently at 115 metres and continuing. Based on projected intersections of surface vein mineralisation management believes it has intersected veins HV-10, HV-09 and HV-06 and is expected to intersect even more veins.

Previous systematic sampling of these veins returning the following results.

Commenting on this development, ICG Managing Director, Ross Brown said, “We are exceedingly pleased that the highly mineralised veins that occur at the surface are now being identified in drilling, and as the hole gets deeper we anticipate intersecting more mineralised zones, not just veins but mantos as well”.

Promising news also emerged from the company’s drilling program at Uchpanga, part of the broader Riqueza project. First pass drilling at the prospect showed a marked prevalence of pyrite in several mineralised structures. Given ICG’s previous surface sampling returned significant levels of gold in association with pyrite bearing materials from Uchpanga, Brown views this as a positive development.

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