Inca Minerals Signs Exclusive Earn-In Option with South32

Inca Minerals Limited  globally diversified metals and mining company South32 have entered into an exclusive option agreement (EOA) with respect to Inca’s Greater Riqueza project in Peru. Riqueza hosts a large, intrusive-related zinc (Zn), silver (Ag), lead (Pb), gold (Au), copper (Cu) mineralised system covering approximately twenty-five square kilometres, occurring within a northwest-southeast trending economic Zn-Ag-Pb-Au-Cu mineral belt.

The EOA creates an exclusive arrangement between Inca and South32 concerning funding and execution of the AMAG-RAD survey at Riqueza but importantly, and indicative of the intentions of both companies, establishes agreed up-front principles and conditions for an earn-in joint venture agreement.

Under the EOA South32 will provide US$275,000 to fund the AMAG-RAD geophysical survey over the entire Riqueza project area. In the lead up to the EOA Inca and South32 have worked well together and agreed the scope and nature of the 1,884 line-kilometre AMAG-RAD survey now scheduled to commence within 10 days. The entire survey including mobilisation, data capture, demobilisation and verification is estimated to take between 30 and 40 days to complete. Detailed interpretations, which include prioritised targeting, are estimated to take an additional 10 to 15 days.

The AMAG-RAD geophysical survey is well suited for intrusive related mineralisation. Its flight path and coverage takes into account the presence and orientation of Riqueza’s mineralised features including the northeast-southwest trending Callancocha Structure, the east-west Uchpanga gossan, the east-west orientated intrusive stocks (and possible Cu-skarn), the northwest-southeast replacement veins of Humaspunco-Pinta and, inter alia, the north-south trending Alteration Ridge.


The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). The information on this website has been prepared from a wide variety of sources, which Kalkine Pty Ltd, to the best of its knowledge and belief, considers accurate. You should make your own enquiries about any investments and we strongly suggest you seek advice before acting upon any recommendation. Kalkine Pty Ltd has made every effort to ensure the reliability of information contained in its newsletters and websites. All information represents our views at the date of publication and may change without notice. To the extent permitted by law, Kalkine Pty Ltd excludes all liability for any loss or damage arising from the use of this website and any information published (including any indirect or consequential loss, any data loss or data corruption). If the law prohibits this exclusion, Kalkine Pty Ltd hereby limits its liability, to the extent permitted by law to the resupply of services. There may be a product disclosure statement or other offer document for the securities and financial products we write about in Kalkine Reports. You should obtain a copy of the product disclosure statement or offer document before making any decision about whether to acquire the security or product. The link to our Terms & Conditions has been provided please go through them and also have a read of the Financial Services Guide. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s