Frewena Project Diamond Drilling Round 16 GDC Final Report Barkly, NT

Abstract

This report refers to a percussion-diamond drillhole, FW230011 that was completed at Inca Mineral's Alpaca Hill Prospect, Frewena Fable in EL 31974. The drillhole was setup to test strong modelled gravity isosurfaces with a peak value of 0.3g/cc. The Prospect, which falls within Inca's broad Frewena Project area, is located 120km east of Tennant Creek in the emerging East Tennant region and is considered prospective for iron ore copper-gold (IOCG) mineralisation and associated accessory metals. This drilling was awarded $163,625 of funding as part of the Round 16 Geophysics and Drilling Collaboration (GDC) program in 2023. The drill program was executed by Tulla Drilling Pty Ltd, starting on 12 November 2023 and concluding on 18th December 2023. The drillhole (FW230011) was initially set at 245 True Azimuth and -60 degrees dip. Coordinates were set at 521648mE and 7811199mN. The drillhole started with an RC precollar, switching to HQ diamond drilling from 269.3m. After drilling to 582m, 3D modelling showed that it was heading off target if drilling continued. To this effect a wedge hole (FW230011b) was set up, with the following parameters: 250 True Azimuth and -64.78 dip. FW230011b commenced from 272m down to a final depth of 699.6m. The data submitted in this report are for FW230011b. As the geology of FW230011 and FW230011b is basically very similar, it was decided that the former will not be cut and sampled. So, discussion in this report refer entirely to FW230011b. Cutting and sampling of FW230011b started from 372m to bottom of hole at 699.6m. The less prospective Georgina Basin Sediments at the top of the hole were not sampled for chemical analysis. This report is submitted in fulfilment of award conditions for the GDC Grants.