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Inca Minerals hits high gold grades in Peru as potential grows


Inca Minerals (ASX:ICG) has detected gold grades as high as 18.2g/t in an open-ended vein of the company’s Chanape porphyry project in Peru.

Another sample marked a grade of 13.7g/t gold, helping revise the interpretation of the Chujcula vein which has returned a 3-metre intersection grading 10.83g/t gold, including 2 metres at 15.8g/t gold from 288 metres downhole.

The latest batch of assays followed up first-pass exploration at Chujcula where 3 metres of material has been found at 10.83g/t gold, 17.10g/t silver, 0.28% copper and 0.44% zinc from 287 metres. This sample contained 2 metres at 15.8g/t gold from 288 metres and 22.2g/t silver from 287 metres.

Another hole at Chujcula has returned grades of 3.41g/t gold, 26.0g/t silver and 0.31% copper at 97 metres.

Chujcula occurs in close juxtaposition to a broadly mineralised breccia and appears to be structurally related to it, while deriving its metal payload from melts associated with the underlying quartz monzonite/monzodiorite porphyry.

Preliminary 3D projections at Chanape have suggested a high sulphide zone may represent a strike and depth extension of Chujcula. If so, Chujcula would extend over 260 metres vertically, be open-ended at depth and be open-ended in the east-west direction.

Earlier this week, the discovery of a second porphyry at Chanape cemented the porphyry bona fides of the project. commensurately enhancing its exploration potential and value.

The multi-porphyry nature of Chanape geology reinforces its likeness to the 2.15-million-tonne Toromocho porphyry mine located only 30 kilometres to the northeast.

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