Inca Minerals (ASX: ICG) has completed drilling three holes to test shallow epithermal targets at the Chanape project in Peru and is waiting on the results.
All three holes intersected altered, sulphide-bearing volcanics and breccia zones.
Chanape is strategically located between Lima and the Toromocho copper, molybdenum, silver porphyry development owned by Chinalco Mining Corp International (HKG: 3668).
The company had generated 43 epithermal and porphyry drill targets have been generated across the within the Phase 1 and Phase 2 surface exploration areas, leading the company to expand its 2013 drilling program.
The remaining holes will be drilled following approval from the Ministerio de Energía y Minas of a modified permit, which is currently well advanced.
Chanape hosts epithermal gold and silver mineralisation to a known vertical depth of approximately 200 metres, with mineralisation most commonly associated with breccia bodies, but now also known to occur in altered intrusive rocks and volcanics.
Adding to the potential of the project, Chanape also hosts copper-molybdenum-silver-gold porphyry mineralisation with drilling earlier in the year intersecting mineralised porphyry below an epithermal gold-silver-bearing breccia body.
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