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Inca Minerals Ltd finds promising zinc, silver and gold in Peru

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Inca Minerals Ltd (ASX:ICG), which acquired the zinc-silver-lead Riqueza Project in Peru earlier this year, has returned promising assay results from its recent sampling and mapping program.

Peak values were 20.96% zinc, 920g/t silver, 16.71% lead and 2.65g/t gold at Uchpanga Prospect.

Peak values at Humaspunco Prospect were 18.06% zinc, 418g/t silver and 44.41% lead.

The results confirm the prospectivity of Inca’s Uchpanga and Humaspunco Prospects at Riqueza, which has an area of 4,600 hectares.

The sampling and mapping program also showed that targets at the two prospects are open-ended in multiple directions.

The high gold grade is a lucrative development for Riqueza, which is a primarily zinc-silver-lead focused project.

The Uchpanga Prospect exhibits a circa 750+ metre long gossan that is one of the largest individual targets for the company.

Last month, Inca placed 35.57 fully paid million shares at $0.003 per share with existing and former shareholders to raise funds for exploration at the Riqueza Project and for working capital.

Previously, Inca placed 78 million shares at $0.003 per share with Resources Capital Fund VI L.P., its largest single shareholder and one of the world’s largest specialist resources funds. The Fund’s stake in Inca now stands at 18%.

 

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

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ASX:ICG
Market: ASX
Market Cap: $7.85 m
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