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Inca Minerals Limited - New Targets Generated in Magnetic 3D Modelling Riqueza.

ENPNewswire-August 19, 2019--Inca Minerals Limited - New Targets Generated in Magnetic 3D Modelling Riqueza

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Release date- 19082019 - Inca Minerals Limited (Inca or the Company) has received results of geophysical 3D modelling that utilised data from the South32-funded geophysical survey conducted in 2018 (ASX announcements: 29 August 2018, 27 September 2018 and 31 October 2018).

The specific area subject of 3D modelling covers four high priority geophysical targets in the greater Alteration Ridge Area including the Cunayhuasi priority-1 (P-1) target, the Cuncayoc East P-1 target, the Cuncayoc West priority-2 (P-2) target, all of which are located within the new Cuncayoc Copper Prospect area (ASX announcements: 20 June 2019, 4 July 2019), and the Huasijaja P-2 target. Several important magnetic bodies have been identified extending below these surface geophysical targets. The largest magnetic body identified occurs below the Huasijaja target. It is approximately 1,000m long, 400m wide and the 500m thickness and occurs close to the surface.

The greater Alteration Ridge area was selected for further 3D modelling on the basis that: It hosts a cluster of P-1/P-2 surface geophysical targets; It hosts several known areas of mineralisation, including the recently discovered Cuncayoc Copper Prospect; It is adjacent to the rhyolite volcanic dome and In broad terms, it is believed to be the centre/nearcentre of a large intermediate sulphidation (IS) epithermal system.

The 3D model of the Cuncayoc Copper 3D Area (Area 1) shows a number of NE-SW orientated magnetic bodies arranged en echelon along the NW-SE trend. The four magnetic bodies (from NW to SE) are associated with and extend at depth below the Cunayhuasi P-1 target, the combined Cuncayoc West P-2/East P-1 target and the Huasijaja P-2 target (not modelled separately). The Huasijaja surface target hosts the largest magnetic body along this trend, approximately 1,000m in length, 400m wide and 500m thicknesses.

The 3D models of the Cunayhuasi P-1 target area (Area 2) and Cuncayoc West P-2 and Cuncayoc East P-1 area (Area 3) show the occurrence of magnetic bodies below each of the surface geophysical targets.

The NE-SW orientation of the magnetic bodies along a NW-SE trend (or axis) is consistent with the structural regime and geological development of the project area. It is believed that the NW-SE orientation is largely a result of compressional tectonism (mountain building processes) and the NE-SW orientation is largely a result of subsequent tensional movement (faulting, shearing).

'In the context of intrusive activity, structures created during tensional movement are the most prospective for porphyry emplacement' says Inca's Managing Director, Mr Ross Brown. 'The NE-SW orientation of the recently modelled magnetic bodies is therefore highly encouraging.'

It is felt that the newly identified magnetic bodies have a shape and configuration like that of late-stage intrusions and that these are possibly related to the rhyolite dome. The occurrence of an early-stage rhyolite dome and array of later stage intrusions is entirely consistent with the geological development and internal architecture of epithermal and porphyry systems. A schematic block-diagram shows the possible configuration of the volcanic dome (at Alternation Ridge), satellite intrusions (the new magnetic bodies) and mineralised veins (at the Cuncayoc Copper Prospect).

General Notes on the Magnetic Modelling Work Completed

The magnetic total magnetic intensity (TMI) grid data of the Riqueza Project geophysical survey of the four areas, discussed above, was analysed to produce new 3D inversions models using the Geosoft magnetic vector inversion (MVI) code. The magnetic modelling the subject of this announcement was carried out by independent service provider Resource Potentials. The modelling is not constrained by known magnetic measurements (of the rock for example) and the smooth, cloud-like magnetic bodies may vary in size and amplitude in relation to depth from surface.

Update of other exploration programs at Riqueza

Two other programs are currently ongoing, grid soil sampling and WorldView3 satellite imagery.

At the time of writing approximately 700 grid soil samples have been collected, representing +/-60% of the program. Approximately 300 samples have been submitted for geochemical analysis. The projected completion of the program is 20-25 days.

The WorldView3 satellite imagery program is nearing completion. Near-infrared images are being examined for, inter alia, sulphide and hydrothermal clay distribution. The clarity and precision of the reflectance and Digital Elevation Model (DEM) data is such that very detailed interpretations of the entire project can now be completed. This work will greatly assist in target generation.

The information from the recent 3D modelling (subject of this announcement), the geochemical data from the grid soil program and the interpretation of the WorldView3 satellite imagery, once completed, will combine with the original geophysical data and other data (including known mineralisation) to generate multi-layer targets for further exploration. Based on South32-funded exploration completed to date and as per scheduled exploration, the next steps at Riqueza are: Completion of the grid soil program (sampling and assays); Interpretation of the subsequent geochemical data; Completion of the WorldView3 imagery interpretation; Continued detailed mapping of the greater Yanacolipa geophysical target area in the NE part of the project area (considered incomplete) and Target generation based on all layers of data.

Contact:

Tel: +61 (0) 8 6145 0300

Fax: +61 (0) 8 6145 0301

Email: info@incaminerals.com.au

[Editorial queries for this story should be sent to newswire@enpublishing.co.uk]

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