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Inca Minerals raising funds to drill porphyry in Peru

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Inca Minerals (ASX:ICG) is focused on the Chanape Porphyry Project, located in Peru.

The project is only 30 kilometres from the 2.15 billion tonne Cu-Mo-Ag Toromocho porphyry mine

Last month Inca revealed that following recent discussions with Peruvian mining authorities, mobilisation has now been accelerated in readiness for the resumption of drilling at Chanape.

The company is positioned to follow up on its best drill holes to date as well as drill test areas where the strongest surface samples have been taken to date.

Having the capacity to drill 22,500 metres under the new permit provides Inca with both the capacity and the access necessary to test all the refined and defined priority targets in the highly prospective summit area of Chanape.

The ASX has this morning granted Inca a trading halt, pending details of a capital raising.

The halt will remain in place until the opening of trade on Monday 22nd June 2015, or earlier if an announcement is made to the market.

 

Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX emerging companies with distribution in Australia, UK, North America and Hong Kong / China.

Quick facts: Inca Minerals Ltd

Price: 0.001 AUD

ASX:ICG
Market: ASX
Market Cap: $3.92 m
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