Gold-copper porphyry explorer Inca Minerals (ASX:ICG) is fully prepared to begin a 13-hole reverse circulation (RC) drilling program at the Wallaroo prospect within its MaCauley Creek Project in Queensland.
The company, which has a $16.49 million market capitalisation, says all access agreements with property owners have been reached and all drill pads and access tracks have been prepared.
Further, Inca reports all staff and drill contractors have been to site for field inspections, with drillers confirming that all pads and tracks have met safety and logistics considerations.
The company notes rig and drill crew mobilisation is currently underway, with drilling scheduled to begin this week.
The drilling is expected to comprise up to 13 RC holes to a depth of 150m and has been designed to test ‘highly prospective’ copper targets where prospective surface rock chip geochemistry coincides with a ‘strong’ magnetic signature at depth.
Inca notes the planned drilling follows the sale of its Mt Isa property, as announced by the company last month (June 2023).
The company reported the contract for the sale of its Mt Isa facility was signed at an agreed sale price of $700,000, with final funds expected to be received in late July this year.
Inca Minerals is an ASX-listed junior resource explorer with assets in the Northern Territory, Queensland, and Peru.
The company’s MaCauley Creek project is located about 100km west of the city of Townsville in Queensland and is considered ‘highly prospective’ for copper-gold porphyry mineralisation.
Write to Adam Drought at Mining.com.au
Images: Inca Minerals Ltd