In today's announcement we wish to provide a brief explanation of the drill program itself, its purpose and objectives, as well as a more practical explanation of how and where we intend executing the NE Area drill program.
It is very useful to firstly know where the drilling will be. The fourteen planned holes occur within a polygon that coincides to the Ficha Tecnica Ambiental (FTA) permit area1 in the north east part of Riqueza. This part of Riqueza showed very strong aerial geophysical anomalies and then, subsequently, very strong geochemical and Induced Polarisation (IP) anomalies, surface mineralisation and alteration, all consistent with the targeted mineralisation types. This work culminated in the independent interpretation of two possible porphyry centres.
The broad parameters of the NE Area drill program are unchanged from the
We have contracted a global drilling company and will be using a track-mounted diamond core (DC) drill rig. The rig is highly mobile and has the capacity to drill to 1,000m depths (our deepest planned hole is 750m). We have opted for the DC drill technique so that we will have continuous solid rock core that is vital for the recognition of possible porphyry and skarn textures. The alternative drill technique, reverse circulation (RC) drilling, does notprovide this capacity. As discussed further below, all holes have multiple objectives from the top to bottom, so we shall be coring top to bottom. Every metre of core will be accurately logged and intervals of core will be selected for half-core sampling and multi-element analysis.
Drill Hole Grouping
The four planned drill holes with numbers
With the aid of the west-east IP profile and the added aid of a recently created south-north IP profile, which integrates satellite imagery and geochemical data, the projected intersections of each hole makes the 'reach' and therefore, the purpose of each hole [visually] clearer.
This first hole grouping is testing for the presence of large-scale porphyry, skarn and carbonate replacement mineralisation associated with the porphyry mega-target. With known surface mineralisation in the vicinity, the entire projected length of each hole will be of interest. In other words, these holes do not target mineralisation just occurring at depth. Based on a generic Cu-porphyry model in limestone terrain, one might expect carbonate replacement mineralisation above skarn mineralisation which, in turn, is above and/or adjacent to porphyry mineralisation. In actual deposits, like those in
Drill Hole Grouping
The seven planned drill holes with numbers
Drill Hole Grouping
The three planned drill holes with numbers
Drill Hole Adjustments and Subsequent Phases of Drilling
As mentioned above, existing holes of the NE Area drill program may be adjusted and holes may be added. Depth, dip direction and hole angle are drilling parameters that may be altered that enable additional reach from an existing platform. In this way, the 6,070m may be seen as a minimum metreage. Importantly, if there is mineralisation at the forecast bottom of the hole, we are not compelled to stop. Should holes be extended, the depth capacity of the DC rig of 1,000m will allow this, even for the deepest planned hole (
The Company also has the right to adjust platform positions without adjusting the FTA and EP permits if such positional changes are minor. Should larger positional changes/additions be recommended, a more formal notification process many be required. In addition, it is the intention of the Company to include the NE Area in its phase two drill program. This second program will cover the entire
Completed Drill Permitting and the Remaining Steps before Drill Mobilisation
The bullet-point list provided below is a convenient way to present the status of the drill permit requirements for the NE Area program. This quick reference shows that the final two permits are pending.
Contact:
Tel: +61 (0) 8 6145 0300
Email: info@incaminerals.com.au
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