High-Grade Gold and Critical Antimony Confirmed, But Drilling Yet to Test Depths
Inca Minerals confirms exceptional gold and antimony assay results from its Hurricane Project in North Queensland, reinforcing the high-grade potential of the asset ahead of its acquisition of Stunalara Metals.
- Rock chip assays reveal gold grades up to 81.5g/t and antimony concentrations exceeding 35%
- Hurricane Project hosts multiple undrilled high-grade prospects across three tenements
- Results validate historical data and highlight significant exploration upside
- Antimony identified as a critical metal with strategic importance for new economy technologies
- Inca plans follow-up exploration including soil surveys, geophysics, and maiden drilling
Background and Context
Inca Minerals Limited (ASX: ICG) has delivered a compelling update on the Hurricane Project in North Queensland, following a recent due diligence site visit and rock chip sampling campaign. The project, acquired through an agreed takeover of Stunalara Metals Limited, is situated approximately 110km west-northwest of Cairns and 75km southwest of Port Douglas. It comprises three granted exploration permits hosting multiple prospects with historic indications of gold and antimony mineralisation.
Exceptional Assay Results Confirm High-Grade Potential
The company dispatched 84 rock chip samples for assay, with results confirming the presence of high-grade gold and antimony mineralisation across several prospects including Hurricane South, Holmes, Cyclone, Tornado, and Bouncer. Notably, a sample from Hurricane South returned an extraordinary 81.5 grams per tonne (g/t) gold, while antimony grades peaked at 35.1% at the Bouncer prospect. Other significant gold assays include 12.95g/t at Hurricane North and 8.29g/t coupled with 12.7% antimony at Bouncer.
These results not only replicate but also enhance historical geochemical data, underscoring the project's robust exploration potential. The presence of anomalous arsenic and silver further supports the epithermal gold-antimony mineralisation model proposed by Inca's technical team.
Strategic Importance of Antimony
Beyond gold, the elevated antimony concentrations are particularly noteworthy. Antimony is classified as a critical mineral by multiple global jurisdictions including the US, EU, Japan, and Australia, due to its essential role in advanced manufacturing, renewable energy technologies, and national security applications. The Hurricane Project’s antimony-rich veins position Inca Minerals to tap into this strategically important commodity, aligning with broader trends towards new economy metals.
Geological Setting and Exploration Outlook
The Hurricane Project lies within the Hodgkinson Formation, characterized by sedimentary rocks intruded by felsic porphyritic granites that have driven hydrothermal alteration and mineralisation. The project area is structurally controlled by major northwest-southeast trending faults, which have facilitated the ascent of mineralising fluids. The mineralisation style is consistent with low sulfidation epithermal systems, with quartz veins exhibiting widths up to 50 meters and lengths exceeding 700 meters.
Despite the promising surface results, the project remains largely untested at depth, with only one abandoned drill hole historically recorded. Inca Minerals plans to advance exploration with soil geochemical surveys, airborne geophysics, and reconnaissance drilling to delineate the extent and continuity of mineralisation.
Next Steps and Market Implications
Inca’s confirmation of high-grade gold and antimony grades at Hurricane significantly de-risks the acquisition of Stunalara Metals and enhances the company’s growth profile. The upcoming exploration programs will be critical in converting surface geochemical anomalies into defined mineral resources. Investors will be watching closely for drilling results that could unlock substantial value and potentially position Inca as a key player in the critical minerals space.
Bottom Line?
With high-grade gold and critical antimony confirmed, Inca Minerals is poised to unlock significant value at Hurricane through imminent drilling campaigns.
Questions in the middle?
- How will Inca Minerals prioritise drilling targets across the multiple undrilled prospects?
- What are the potential scale and grade continuity of mineralisation at depth beyond surface rock chips?
- How might the strategic importance of antimony influence Inca’s project development and funding strategies?
