Inca story just keeps getting better with strong manto assay results
Shares in Inca Minerals (ASX: ICG) could experience another strong run on Tuesday after spiking 40% last week when it announced that further high-grade mineralisation had been identified through assays acquired at its Riqueza project.
Of course investors should be mindful of share price fluctuations as past performance is no guarantee of future performance.
As a backdrop, assay results released last week included a new peak zinc value of 34% at the Humaspunco prospect, and at that stage it had been confirmed that the deposit posted 36 known mineralised veins.
A continuation of strong zinc, silver and lead mineralisation has been identified in extensive mantos at the Humaspanco prospect. Mantos are a flat lying, bedded ore deposit, usually copper, lead, zinc, silver. This terminology is mainly used in South America for a hydrothermal replacement deposit of carbonate beds.
The 33.4% zinc and 540 grams per tonne silver mineralisation peak grade was delineated in mantos (as opposed to veins last week) and this set a new peak in relation to this form of assay. Inca has announced it has now discovered at least 18 mantos at its Riqueza project. Exceptionally high average grades of 12.48% Zn, 261g/t Ag and 10.50% Pb across all samples from 15 of these mantos has now been reported in the Company’s latest exploration program. The Company has also identified another prospect on the project with a new manto being discovered at the Pinta prospect with a peak grade of 10.39% zinc.
Managing Director, Ross Brown, highlighted that vein hosted zinc, silver and lead mineralisation at Riqueza was consistently very high grade and widespread, leading him to speculate that the newly discovered mantos provide every reason to be extremely optimistic about the scale and potential of the project.
It should be noted here that while optimistic, there is still some way to go for ICG on the project and therefore consideration of the stock for your portfolio should be made with a cautious approach and professional financial advice.
On this note, Brown said today, “Manto mineralisation at Humaspunco and Pinta is widespread, including 14 new manto locations identified during the program with the sequence now extending from Humaspunco West to Pinta over an area approximately 2000 metres (east-west) and 800 metres (north-south)”. Providing further promise is the fact that this trend is open ended to the south.
Brown said the latest results confirmed extensive and very high grade mineralisation in both the veins and the mantos at Riqueza, exceptionally pleasing and very compelling in terms of implications for the project’s potential scale.
The following satellite image shows the Humaspunco and Pinta prospects with pale yellow shading, indicating that projected expanse of the upper manto sequence, connecting outcrop occurrences of three manto horizons (thick yellow lines). The pale beige shading shows the projected expanse of the lower manto sequence, connecting outcrop occurrences of a fourth manto horizon (thick beige lines).
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.