Inca Minerals reports encouraging soil sample results, complete geological mapping program at Riqueza project

Inca Minerals (ASX: ICG) announced that it has received encouraging results from geochemical soil sampling program at its Riqueza Project in Peru.

The company reported that it had also conducted a geological mapping and rock chip sample program, with Rockchip assay results and mapping interpretations anticipated within 7-10 days.

ICG reported that the soil sampling program has been fully completed at Riqueza. The company said that three multi-element geochemically anomalous areas were recognized; Yanacolipa Ag-Pb-Zn±(Cu) area; Pampa Corral-Colina Roja Au-Ag-Pb-Mo±(Cu) area; and Cuncayoc Copper-Ajo Orjo Cu-Zn-Ag±(Pb±Mo) area.

ICG reported that mapping delivered several key exploration results including visible Cu and Pb mineralisation in Yanacolipa area; discovery of porphyry dyke in Yanacolipa area; and further visible Cu, Pb and Zn mineralisation in Cuncayoc Copper area.

Inca Minerals also reported that a 3D magnetic body was modelled at recently identified Ajo Orjo target.

The company said that the soil and rockchip geochemical data would be fully integrated with satellite, geological, and geophysical data sets to generate next-phase targets.

Riqueza project

The Riqueza project is a Zn-Ag-Pb-Au-Cu focused project located within a part of Peru’s Miocene Porphyry-skarn Mineral Belt. This northwest-southeast belt hosts numerous porphyry and skarn deposits, several large mines and dozens of smaller mines.

Soil and mapping program

The company had commenced a soil and mapping program to identify subtle soil geochemical expressions that may relate to hidden forms of large-scale mineralisation at Riqueza.

The company reported that it has now completed the analysis of 52 elements, including metals the Cu, Au, Ag, Mo, Pb, Zn and pathfinder elements, As, Bi, Mn, Sb, Te, Tl, excetera, of 1,268 samples of the Soil Program.

The company said that three geochemical areas have been recognised that are believed potentially indictive of large-scale intermediate to high-sulphidation epithermal and/or skarn intrusive-related mineralising processes.

Three geochemical areas recognised

The company reported that the three geochemical areas recognised are a limestone-hosted Ag-Pb-Zn±(Cu) area in the northeast part of Riqueza at Yanacolipa; a volcanics-hosted Au-Ag-Pb-Mo±(Cu) area in the central part of Riqueza at Pampa Corral-Colina Roja; and a volcanics-hosted Cu-Zn-Ag±(Pb±Mo) area in the south-central part of Riqueza at Cuncayoc Copper-Ajo Orjo.

Yanacolipa geochemical area

The company reported that the Yanacolipa geochemical area hosts three priority 1 and one priority 2 airborne geophysical targets, including Pucamachay P-1, Chuge-1, Puymanpata P-1, and Yanacolipa P-2; a large and unexplained 3D magnetic body extending from surface to >1.5km depth; a bulls-eye shaped Ag-Pb-Zn soil geochemical anomaly; andesitic sills, mineralised breccias and one andesitic porphyry dyke; and zones of visible Cu (chalcopyrite, malachite, azurite) and Pb (galena) mineralisation.

Pampa Corral-Colina Roja geochemical area

The company said that the Pampa Corral-Colina Roja geochemical area hosts one P-2 and one P-3 airborne geophysical targets, including Pampa Corral P-2 and Uchpanga P-3; bonanza-grade Ag mineralisation (920g/t Ag) and strong Au, Pb and Zn mineralisation at the Uchpanga and Colina Roja Prospects in rockchip sampling; a bulls-eye shaped Au-Ag-Pb-Mo soil geochemical anomaly;  known monzodiorite and meta-gabbro intrusive stocks; and known, though minor, Cu skarn (malachite, azurite) mineralisation (garnets in a marl adjacent to the monzodiorite).

Cuncayoc-Ajo Orjo geochemical area

The company noted that the Cuncayoc-Ajo Orjo geochemical area hosts four P-1 and four P-2 airborne geophysical targets, including Ushpanga P-1, Cunayhuasi P-1, Cuncayoc East P-1, Chojepite P-1, Cuncayoc West P-2, Ajo Orjo W & E P-2’s and Cachillusca P-2; bonanza-grade Ag mineralisation (911g/t Ag) and strong Cu mineralisation at the Cuncayoc Copper Prospect in rockchip sampling; several 3D modelled unaccounted magnetic bodies at Cuncayoc Copper, Huasijaja and Ajo Orjo Prospects. The Huasijaja 3D magnetic body is ±200 million cubic metres is size; multiple other known zones of mineralisation; and is flanked by the rhyolite dome at Alteration Ridge.

Geological mapping program

The company reported that it has also completed a parallel geological mapping and rockchip sample program with 95 rockchip samples collected during this particular phase of work.

The geological mapping program was designed to follow-up on outcropping mineralisation observed during the Soil Program, and/or to follow up on previously un-explored airborne geophysical and/or satellite (ASTER) targets.

The company said that the mapping conducted at the same time as the Soil Program (and is ongoing) has identified previously unknown mineralisation in outcrop within the three geochemical areas.

Inca said that all three geochemical areas host known mineralisation and all geochemical areas host multiple high-priority airborne geophysical targets.

It may be noted that the company had recognised Ajo Orjo as a priority two target after the original airborne geophysical program. Interim soil interpretations had then identified soil geochemical anomalism associated with it.

Updates and next steps

Inca Minerals reported that the process of compiling and assessing the multiple data sets has begun with the finalisation of the Soil Program; which includes combining airborne geophysical data and recent soil and rockchip geochemical, geological mapping, and magnetics 3D imaging data.

The company said that further analysis will be considerably more inclusive, using all data sets and will be sufficiently detailed to derive well defined and prioritised target areas.

Inca announced that low-cost mapping and sampling will continue the search for mineralisation, alteration, presence of intrusions, ex cetera, to assist assessments.

The company said that an Induced Polarisation (IP) ground-geophysical survey is being considered to provide sub-surface information to better define the highest priority targets.

The company reported that the assays for the 95 rockchip samples and subsequent assessment of results are anticipated within seven to 10 days.

Management statements

Inca’s Managing Director Mr. Ross Brown commented: “The results of the Soil Program and the mapping are inseparable in terms of meaning and importance and are discussed below together.The purpose is to start drawing together different data sets to begin the process of target prioritisation. Compressing each layer, as it were, into a single plan of targets.”

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Written By Christopher Norris
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