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Inca Minerals Ltd samples high-grade zinc, silver and lead in Peru

Inca Minerals Ltd (ASX:ICG) has received promising assay results for samples collected from a mapping and sampling program at its Cerro Rayas Project in Peru.

Inca Minerals Ltd samples high-grade zinc, silver and lead in Peru

Cerro Rayas is the company’s second zinc-silver-lead focussed project in Peru, located 15 kilometres from its Riqueza project.

The program focussed on two old mine workings, Vilcapuquio in the north of the concession and Wari in the south.

The rock chip sample assay results from both the Wari and Vilcapuquio were encouraging.

Based on assay results, Wari is strongly mineralised in zinc, silver and lead with averages of 30.55% zinc, 177.3 g/t silver and 21.21% lead.

This contrasts with Vilcapuquio that is strongly mineralised in zinc only. It averaged 18.78% zinc, 3.2g/t silver and 2.60% lead.

Inca anticipates several phases of mapping and sampling to be completed at Cerro Rayas in 2017. Depending on results, the company would then apply for a drill permit to test the targets.

Inca’s Riqueza project is six to nine months ahead of Cerro Rayas on the exploration curve as highlighted in the recently completed sampling program for which assay results are pending.

The company is also awaiting the granting of drill permits at the Riqueza project.

Inca’s share price has tripled since the beginning of 2016, last trading at $0.017.

The company had a cash balance of $2.3 million as at 30 September 2016.

Quick facts: Inca Minerals Ltd

Price: 0.002 AUD

Market: ASX
Market Cap: $8.32 m

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