Anuncio • Jul 14
Inca Minerals Limited Announces Completion of Review of Drill-Hole FW220009 at the Mount Lamb NE Prospect
Inca Minerals Limited announced that review of drill-hole, FW220009, at the Mount Lamb NE prospect, completed as part of its reconnaissance program at the Frewena Group Project in the Northern Territory, is now complete. FW220009 was drilled to a total depth of 1,051.0m, comprising a Reverse Circulation (RC) pre-collar of 136.4m and a diamond tail of 914.6m. FW220009 was drilled as a follow-up of the highly encouraging hole FW220007 which, as announced 6 June, intersected a +500m down-hole interval of zoned haematite and magnetite IOCG-style alteration with visual observations of copper, lead and zinc sulphides. The Company reported that FW220009 intersected wide intervals of zoned haematite, magnetite and dolomite alteration, with visual observations of rare-trace (<1%-1%) copper and zinc sulphides (chalcopyrite, sphalerite). Of the metal sulphides of economic importance, both the chalcopyrite and sphalerite occur as blebs within veins and as disseminations. The RC portion of FW220009 penetrated into Georgina Basin sedimentary units with the switch to diamond coring occurring above the top of the Helen Springs Volcanics. Two metre composite RC samples will be submitted for multi-element analysis. FW220009 was designed to test the peak magnetic anomaly in the vicinity of the earlier completed drill hole, FW220007, which intersected a thick down-hole interval of zoned, IOCG-style hematite and magnetite alteration. Both holes are collared approximately 3km north-east of the government drill-hole, NDIBK04. Magnetic anomalism that occurs in this portion of Mount Lamb Northeast is primarily attributed to the occurrence of magnetite, along with a lesser influence of the semi-magnetic iron sulphide mineral, pyrrhotite. The magnetic anomaly targeted by FW220009 (Figures 3 and 4), lies off-set from the peak gravity anomaly, the upper portions of which were tested by FW220007. FW220009, therefore, tested a significantly different portion of geophysical signature. The top of the magnetic feature intersected by FW220009 is estimated to lie at approximately 325m down-hole depth with a high tenor zone estimated between c. 450-700m down-hole depth (Figure 4). The unconformity between the Georgina Basin sediments and the Helen Springs Volcanics was intersected at 166.8m and the lower unconformity between the volcanics and basement Alroy Formation was intersected at 219.5m. The upper levels of the Alroy Fm. consisted of mixed schist, shale and siltstone lithologies showing strong veining, and local brecciation, with a mix of haematite-chlorite, carbonate-haematite and quartz-chlorite-pyrite veining. Zones of strong to intense silicification also occur with locally rare-trace chalcopyrite observed in association with veining. Magnetite banding within siltstone commenced at 319m and continued with varying intensity to c. 350m, correlating well with the outer contour of the modelled magnetic anomaly. This magnetite-rich zone was strongly veined and silicified with abundant quartz, carbonate, chlorite and pyrite occurring, lesser haematite and rare-trace chalcopyrite. Below 350m, host rock geology was dominated by black shale and siltstone units with abundant pyrite, pyrrhotite and chlorite, as well as zones with strong garnet and quartz-(pyrite) overprinted garnets, and rare occurrences of sphalerite. Siltstone units become increasingly dolomitic altered and fractured-brecciated from c. 450m with variable levels of pyrite, pyrrhotite and rare- trace chalcopyrite. A second, larger magnetite-rich zone was encountered from c. 595m with magnetite overprinting siltstone and hosting trace to minor levels of garnet, pyrrhotite and pyrite, and rare to trace chalcopyrite. The zone showed variable degrees of fracturing and brecciation, while a narrow breccia zone at 647m hosted quartz-epidote-fluorite-chalcopyrite-potassium feldspar (kspar). A 40m wide dolomitic alteration zone occurred between c. 700-740m that hosted a 2.5m wide zone (728-730.5m) with semi- massive pyrrhotite-pyrite and trace chalcopyrite. Alteration intensity and brecciation increased significantly immediately adjacent to the semi-massive sulphide zone. Dolomitic alteration decreased below 750m with geology increasingly dominated by schist and then graphitic schist from c. 800m that continued to end of hole (EOH) at 1,051m. Schist units were strongly folded and faulted with quartz-pyrrhotite- pyrite veining common as well as pyrrhotite and pyrite laminations within the schist foliation. Rare to trace chalcopyrite and rare sphalerite were observed throughout this wide interval. Following completion of FW220009, Rig 1 has commenced drill-hole FW220010, that is located 2.2km WNW of FW220007 and FW220009, with this hole currently at 440.3m depth and planned to 1,000m. FW220010 is an addition to the 2022 reconnaissance drill program and was designed to test a strong gravity anomaly that occurs beneath the peak of Mount Lamb, which is partly offset from the >15km long Mount Lamb magnetic-gravity-conductive trend. Inca can report that a thick sequence of altered and silicified, porphyritic intrusive rocks (granite, granodiorite and diorite) have been intersected from 189m down-hole in FW220010, with these being the first recorded intrusive rocks at the Mount Lamb prospect. While this hole is continuing, epidote-chlorite and sericite alteration of the intrusives has been observed during preliminary inspection of core, along with low levels of disseminated garnet and low levels of veining that includes variable quartz, carbonate, chlorite, epidote, kspar and fluorite infill, and rare-trace (<1%-1%) pyrite and chalcopyrite. FW220010 will be the final hole drilled as part of the 2022 Phase-1 Frewena reconnaissance drill program with the program a marked success having confirmed the IOCG (and lesser SEDEX) potential of Inca's land-holding at the four prospects tested so far, being Mount Lamb NE, Mount Lamb SW, Jumping Spider and Roadhouse. While the Company notes that visual sulphide estimates undertaken during preliminary core inspection should not be considered a substitute for laboratory analysis, observation of low level (<1%-1%) copper, lead and zinc sulphides occurring in association with strong IOCG-style alteration is a standout success. This success if all the more significant given the frontier nature of the East Tennant region and that drilling has tested blind, conceptual geophysical targets. The Company will focus its attention on completing detailed study of drill core and expediting core cutting for dispatch of samples for assaying. Pleasingly, core samples from FW220007 have been submitted with anticipated laboratory turn around times of 8-12 weeks. As part of Inca's staged, systematic, results driven exploration program, the Company intends a thorough review and interpretation of data acquired at Frewena to determine the best next steps to advance exploration and discovery at the Project.