ICG release positive results for first zinc drill hole
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.
S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.
Conflict of Interest Notice
S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.
The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.