Inca Minerals Ltd (ASX: ICG)
Zinc has emerged as one of the best performing metals of 2016.
Inventories are scraping the bottom, large zinc mines are closing – however the demand for zinc continues to rise.
This is music to Inca Minerals (ASX:ICG)’s ears, as it steadily builds a case for a solid maiden JORC resource in Peru, chiefly with zinc, but a fair bit of silver and lead in there also.
We first wrote about ICG when it was trading at just $0.004 per share. Since then ICG has been progressing with its mapping and sampling work, and it continues to uncover highly mineralised veins…
With permitting moving forward, next on the cards is drilling for ICG…
In its latest results, ICG announced very strong zinc, silver, lead mineralisation and grading between 24-34% Zn, 340-350g/t Ag and 23-27% Pb, which can be considered stellar early figures.
In fact these figures are so good that the company is hoping for a substantial Resource once extensive drilling has been undertaken and a JORC definition is completed.
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ICG is currently doing all the necessary pre-drilling surface sampling work and hitting their timelines.
Upcoming drilling could make ICG the brightest junior in its class and could push its current $15 million market cap to new levels.