Inca identifies bonanza grade silver at Riqueza
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Inca Minerals Ltd (ASX:ICG) has received assay results from 22 rock chip channel samples collected during a brief reconnaissance program that was conducted at Riqueza in conjunction with a more detailed expert porphyry/skarn mapping program.
Both programs are part of the Inca-South32 Year-1 exploration campaign.
The assay results as detailed below indicate strong epithermal silver-copper-manganese mineralisation broadly associated with a rhyolite dome and related structures, recently interpreted at Alteration Ridge.
Notably, bonanza grade silver and strong copper mineralisation was identified at the Cuncayoc Copper Prospect.
These included channel length samples grading 919 g/t silver and 2.7% copper.
Further promising grades stemmed from the identification of a mineralised structure at the Colina Roja Prospect, including silver grading 68 g/t and copper grading 1.4%.
This strong epithermal mineralisation corresponds to several priority one geophysical targets as highlighted below.
While these highly promising assay results are, at this time, from a small number of samples the company is so encouraged by the data that management has launched a very detailed grid soil geochemical program to cover these same areas, and follow-up rock chip sampling is planned at Cuncayoc Copper.
Strong start to extensive exploration program
These are impressive results given that they come at a very early stage of what is a substantial exploration program being conducted by Inca and South32 (ASX:S32)
A near project-wide grid soil geochemistry program commenced at Riqueza in late May 2019.
As at 1 July, 2019, a total of 125 soil samples had been taken out of a program total of 1,269 samples.
Soil samples are being taken on a 200 metre by 200 metre North-South/East-West grid and will be subject to multi-element analysis.
The objective of the soil program is to identify geochemical indictors of (pathways to) hidden, or buried, porphyry and/or skarn mineralisation.
Of particular interest are the large expanses of non-outcrop within the greater Alteration Ridge Area where the usefulness of mapping is limited.
It is expected that the geochemical sampling will be especially useful in identifying any potential anomalies in these areas.
Detailed localised geological mapping and reconnaissance rock chip channel sampling will continue as a parallel program to the soil program so that any/all zones of mineralisation, important structures and alteration zones found during soil sampling are described and sampled in a timely manner.
The WorldView3 satellite data has now been provided to geophysics/remote sensing specialists Resource Potentials for detailed analysis.
The results of this work are anticipated in July 2019, and these will provide additional layers of data that will further assist in project-wide target generation, refinement and prioritisation.
Consequently, there could be further share price catalysts emerge as July unfolds.
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