Inca Minerals (ASX:ICG) strikes high-grade "new economy" metals MaCauley Creek, Townsville

  • Inca Minerals (ICG) reports “bonanza”-grade intersections of “new economy” metals at its Macauley Creek project in northeast Queensland
  • The company struck high grades of copper, lead, zinc and silver, as well as anomalous lithium and tin, from samples taken from the area over November and December 2022
  • Inca Chairman Adam Taylor says the results of its sampling work open up a “new and exciting” opportunity for the company
  • The company is now planning follow-up exploration work to build on these latest results
  • Inca shares are up 19.05 per cent and trading at 2.5 cents at midday AEDT

Inca Minerals (ICG) has reported “bonanza”-grade intersections of “new economy” metals at its MaCauley Creek project in northeast Queensland.

The results come from 70 samples collected from the area in November and December 2022, of which more than 35 per cent contained ore-grade copper, silver, lead, and zinc. Moreover, Inca said the fieldwork uncovered anomalous lithium and tin at the project.

Some of the top assay results from the sampling work include 2430 grams per tonne (g/t) silver, 49 per cent copper, 43.3 per cent lead and 1.33 per cent zinc. Further results include 345 parts per million (ppm) lithium, 500 ppm tin, and 125 ppm tungsten.

Inca said the most promising results came from the northeast and central parts of the project area.

“The identification of ore-grade base metals and silver in several locations, including the new economy metals lithium, tin and tungsten in anomalous concentrations, opens up a new and exciting opportunity for Inca Minerals within the MaCauley Creek project area,” Inca Chairman Adam Taylor said.

“We are looking forward to progressing follow-up exploration programs to
build on these significant results.”

The resources found intersect with the Running River Metamorphics and Ewan Formations — the same lithologies that host the Mount Moss magnetite, copper, lead, and silver mines, just one kilometre to the north.

Inca shares were up 19.05 per cent and trading at 2.5 cents at midday AEDT.

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