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Inca Minerals (ASX:ICG) is an Australian exploration company focused on uncovering high-grade gold and gold-antimony mineralization. The company recently acquired Stunalara Metals, a transformational deal that enhances its exploration assets.
Inca Minerals' flagship Hurricane Project in Northern Queensland presents exceptional exploration potential, benefiting from a highly prospective geological setting. With record gold prices and rising demand for critical minerals, Inca is strategically positioned to seize this growing market opportunity.
Gold and antimony prospects at the Hurricane projectInca Minerals is committed to advancing its flagship Hurricane Project through a high-impact exploration strategy. The company plans to launch a shallow drilling program in Q2 2025, targeting high-priority gold-antimony mineralization identified through rock chip sampling and structural mapping.
Company Highlights
- The flagship Hurricane project in Northern Queensland features exceptional gold and antimony grades, with assays returning up to 81.5 g/t gold and 35.1 percent antimony. Despite its strong potential, the project remains undrilled, offering a first-mover advantage in an underexplored high-grade system.
- A shallow, cost-effective drilling campaign in Q2 2025 aims to define a maiden gold-antimony resource at Hurricane, with the potential to deliver rapid upside for shareholders.
- Inca Minerals’ acquisition of Stunalara Metals significantly expands its footprint across Queensland, Tasmania and Western Australia, strengthening its exposure to high-value gold and critical minerals like antimony.
- With China restricting antimony exports and global supply tightening, Inca is well-positioned to benefit from rising demand across the energy storage, defense and high-tech sectors.
- Northern Queensland has seen limited modern exploration compared to Western Australia. Inca is leveraging advanced techniques to uncover new high-grade gold-antimony systems.
- Led by an experienced team with a track record of discovery success, Inca maintains a disciplined capital allocation strategy to maximize shareholder value
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Inca Minerals
Investor Insight
With a clear, execution-focused strategy, Inca Minerals is poised to become a leading gold and antimony exploration company in Australia. The company is led by an experienced management team dedicated to unlocking value through strategic exploration and resource development.
Overview
Inca Minerals (ASX:ICG) is an Australia-focused exploration company targeting high-grade gold and gold-antimony mineralization. The company’s strategy is underpinned by its recent acquisition of Stunalara Metals, a transformational deal that strengthens its portfolio with high-grade exploration assets. The Hurricane project in Northern Queensland is Inca’s key focus, offering exceptional exploration potential in a region with significant structural controls for mineralization. With a strong macro backdrop of record gold prices and increasing demand for critical minerals, Inca is well-positioned to capitalize on this market opportunity.
Inca Minerals' primary objective is to advance the flagship Hurricane project through an aggressive exploration strategy. The company plans to initiate shallow drilling in Q2 2025, targeting high-priority gold-antimony mineralization identified from rock chip sampling and structural mapping. Concurrently, Inca is conducting geophysical and geochemical surveys to refine drill targets and expand the exploration footprint, ensuring a comprehensive approach to unlocking the project’s full potential.
Recognizing the increasing demand for critical minerals, Inca is strategically positioning itself as a key player in the antimony market. With China imposing export restrictions on this vital commodity, global supply constraints present a significant opportunity for Inca. The company aims to capitalize on this trend by advancing its high-grade gold-antimony deposits at Hurricane, demonstrating the economic viability of the project. Additionally, Inca is focused on educating the market about antimony’s essential role in energy transition, defence and high-tech applications, further reinforcing its value proposition to investors.
Beyond Hurricane, Inca is committed to maintaining a balanced and de-risked exploration portfolio. The company plans to commence fieldwork at the Mt Read project in Tasmania in late 2025, evaluating its potential for polymetallic mineralization, including copper, lead, zinc and gold.
Company Highlights
- The flagship Hurricane project in Northern Queensland features exceptional gold and antimony grades, with assays returning up to 81.5 g/t gold and 35.1 percent antimony. Despite its strong potential, the project remains undrilled, offering a first-mover advantage in an underexplored high-grade system.
- A shallow, cost-effective drilling campaign in Q2 2025 aims to define a maiden gold-antimony resource at Hurricane, with the potential to deliver rapid upside for shareholders.
- Inca Minerals’ acquisition of Stunalara Metals significantly expands its footprint across Queensland, Tasmania and Western Australia, strengthening its exposure to high-value gold and critical minerals like antimony.
- With China restricting antimony exports and global supply tightening, Inca is well-positioned to benefit from rising demand across the energy storage, defense and high-tech sectors.
- Northern Queensland has seen limited modern exploration compared to Western Australia. Inca is leveraging advanced techniques to uncover new high-grade gold-antimony systems.
- Led by an experienced team with a track record of discovery success, Inca maintains a disciplined capital allocation strategy to maximize shareholder value
Key Projects
Hurricane Project
The Hurricane project is Inca Minerals’ flagship asset, located in Northern Queensland, approximately 110 km west-northwest of Cairns. The project consists of three tenements positioned within a structurally favorable corridor between the Hurricane and Retina Faults. The project is highly prospective for gold and antimony mineralization, with multiple high-grade targets identified through historical and recent rock chip sampling.
Recent assay results from Hurricane confirm the presence of significant gold and antimony grades, with highlights including 81.5 grams per ton (g/t) gold at Hurricane South, 12.95 g/t gold at Hurricane North, and 35.1 percent antimony at Bouncer. Despite these impressive surface results, the project remains undrilled, offering a rare opportunity to test a virgin high-grade gold-antimony system. The mineralization is epithermal in nature, hosted within structurally controlled quartz veins that show strong alteration signatures, suggesting a robust hydrothermal system.
Gold and antimony prospects at the Hurricane project
Inca plans to commence an initial shallow drilling program in Q2 2025, targeting the highest-priority areas identified from geochemical and structural mapping. The company is also conducting geophysical surveys and additional rock chip sampling to refine its understanding of the mineralized system and expand its exploration footprint.
With a strong technical basis and excellent exploration upside, Hurricane is positioned as a potential near-term discovery opportunity for high-grade gold and antimony resources.
Mt Read Project
The Mt Read project is an early-stage exploration asset located in Tasmania, a region well-known for its polymetallic mineralization. While not the immediate focus of Inca’s exploration strategy, Mt Read presents a significant longer-term opportunity for base metals, including copper, lead, zinc and, potentially, gold. The project is situated within a geologically prospective setting that has seen limited modern exploration.
Fieldwork at Mt Read is expected to begin in late 2025, following the advancement of the Hurricane project. Initial exploration efforts will include geological mapping, geochemical sampling and geophysical surveys to identify potential drill targets. While still in its infancy, Mt Read aligns with Inca’s strategy of securing highly prospective projects in stable jurisdictions with strong mineral endowments.
Management Team
Adam Taylor – Non-executive Chairman
Adam Taylor brings more than 20 years of experience in the civil construction and mining sectors. As CEO of a family-owned group of businesses, he oversees operations in mining, construction, waste management, dewatering and infrastructure maintenance across Western Australia. His core competencies include business management, strategy development, contract negotiation and implementing innovative solutions.
Trevor Benson – Chief Executive Officer
Trevor Benson has extensive experience in the mining and finance sectors, having worked with mining companies, investment banks and finance houses. He has completed mergers and acquisitions and capital market transactions across various natural resources and related industries. Benson holds a Bachelor of Science from the University of Western Australia.
Brad Marwood – Non-executive Director
With more than 40 years in the mining and exploration industry, Brad Marwood has held executive roles, including CEO and managing director positions at various companies, including Middle Island Resources and Tiger Resources. An engineer by training, he has been responsible for over 50 feasibility studies and has secured $500 million in funding for project development. His expertise encompasses exploration, project implementation, operational management and strategic planning.
Andrew Haythorpe – Non-executive Director
Andrew Haythorpe has more than 30 years of experience in the resources and investment industries. His background includes roles as a geologist with CRA, mining analyst with Suncorp and Hartleys, and fund manager at Bankers Trust, managing more than $40 billion. He has raised over $200 million for junior companies and led Crescent Gold from an $8 million explorer to a $250 million gold producer. Haythorpe currently serves as a director of Allup Silica and a non-executive director of Tempest Minerals.
Advancing high-grade gold-antimony project in Northern Queensland
Lode Gold Resources: Discovering the Next Orogenic Intrusive Deposit in Yukon and New Brunswick
Lode Gold (TSXV:LOD) owns three key orogenic gold assets with a proven gold endowment. Its flagship Fremont Gold Project, located on the Mother Lode Belt in Mariposa County, California, sits on patented private land. Lode Gold is the first owner since mining was suspended in 1942 to explore the site’s underground mining potential. Fremont boasts a gold resource of 1.16 Moz (Indicated) and 2.02 Moz (Inferred), underscoring its strong development prospects.
Lode Gold is spinning out its Canadian assets into a new company, Gold Orogen, which holds projects in Yukon and New Brunswick. Backed by $3 million raised in October 2024, Gold Orogen is well-funded for exploration. Additionally, Lode Gold is securing an extra $1.5 million, ensuring that drilling will take place during the 2025 exploration season.
The Fremont Gold Project spans a 4 km strike along California’s historic Mother Lode Belt, on 3,351 acres of privately patented land in Mariposa County. Lode Gold is launching a 2025 drilling campaign targeting an additional 400,000+ ounces of gold, further strengthening Fremont’s resource base and development potential.
Company Highlights
- Lode Gold has three key orogenic assets with proven gold endowment.
- Strong management and technical team led by Wendy T. Chan who has over 20 years of experience developing and executing strategic plans for Fortune 500 companies and entrepreneurial companies.
- Tight share structure, where four family offices and institutional funds owning over 60 percent.
- The company’s flagship Fremont project boasts a resource of 1.16 Moz of gold and 2.02 Moz of gold in the Indicated and Inferred categories, respectively.
- 2025 MRE 1.3 Moz of gold at 4.4 g/t Au (previously mined in the 1930s at 10.7 g/t)
- Upside potential; only 8 percent of the total 2023 MRE resources has been exploited; mostly in the first 250 m; much has been left unmined.
- Brownfield with 23 km of underground workings and over 43,000 m drilled (cores preserved)
- The deposit remains open along strike and at depth (three step out holes at depth over 1300 m hit structure and were mineralized) over 43 000 m have been drilled.
- Lode Gold will spin out its Canadian assets in the Yukon and New Brunswick into a new company called Gold Orogen to unlock value.
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Trigg Expands Tier-1 Australian Antimony-Gold Tenure with Grades up to 61% Sb & 1045 g/t Au
HIGHLIGHTS
- Trigg Minerals signs a binding purchase agreement to acquire 100% rights of the Nundle, Upper Hunter, Cobark/Copeland projects, conditional upon completion of due diligence. Covering a total area of 1,039.7 km².
- These projects will be developed as Trigg’s second flagship exploration asset behind its primary, advanced stage high-grade Wild Cattle Creek deposit. Trigg will have two exploration teams advancing both these new projects and Wild Cattle Creek simultaneously.
- The package includes five historical antimony deposits, with rock chips grading 61% Sb and 9.7% Sb, and 12 tonnes of recorded Sb production (EL 9594, Nundle), plus a 37% Sb sample collected from 12m down adit indicating potential mineralisation at depth (EL 9655, Upper Hunter).
- The tenements also feature 60+ historical gold mines/occurrences across each tenement with historical recorded high-grade production. As an example, Standard Reef was worked in 1904 with an estimated production of 15,000oz at 53.8 g/t Au.
- Total historical production across the tenement package is estimated at 174,000 oz Au without modern mining techniques and significantly lower gold prices. Initial review suggests that mineralisation is interpreted to be open along strike and down depth and with considerable high grade rock chip grades ranging from 30 g/t Au to 1,045 g/t Au.
- The addition of the Nundle Project to TMG’s North Nundle holdings extends the Company’s prospective strike along the underexplored and prolific Peel Fault to approximately 40 km, significantly enhancing exploration potential.
Figure 1; TMG's latest tenement acquisition overlying local geology, historical Au and Sb occurrences (https://minview.geoscience.nsw.gov.au)
The acquisition includes four key projects:
Nundle (EL 9594)
The Nundle Goldfield has a rich history of gold production, with several historical antimony mines present within the region. It covers parts of the major Peel Fault and contains numerous old workings where typically small high-grade gold deposits occur in dolerites. The expanded Nundle Project, encompassing both Nundle and North Nundle, provides Trigg access to a 40 km length of the Peel Fault, a deep-seated conduit for mineralising fluids, controlling the localisation of auriferous (gold-bearing) quartz veins and antimony deposits. Several historical goldfields, including Nundle, Hanging Rock, and Bingara, are closely associated with this fault system.
Upper Hunter (EL 9655)
The Upper Hunter Goldfield in NSW is a historic gold-producing region known for its structurally controlled, quartz-vein-hosted gold deposits. Mineralisation occurs in fault breccia and shear zones within sedimentary rocks, with gold typically found alongside pyrite, arsenopyrite, minor chalcopyrite, and, locally, stibnite (antimony).
Cobark and Copeland (EL 9653)
The Cobark and Copeland Goldfields in NSW were prominent during the late 1800s gold rush. Mining focused on high-grade quartz veins hosted in faults and shear zones. The Copeland area became a key mining hub, with underground workings targeting gold-rich sulphides such as pyrite, stibnite (antimony), arsenopyrite, and minor chalcopyrite. The region remains highly prospective for modern exploration.
The association of antimony mineralisation with gold enhances the project's critical mineral potential, aligning with Trigg Minerals’ strategy to explore and develop high-value, multi- commodity assets in Tier-1 mining jurisdictions.
STRATEGIC RATIONALE
The Projects are in an underexplored yet highly prospective region, with historical workings and strong geological indicators suggesting significant upside potential. The presence of both gold and antimony presents an exciting opportunity for Trigg to unlock new resources and expand its footprint in the strategic metals sector.
Tim Morrison, Executive Chairman of Trigg Minerals, commented:
“The acquisition of the Nundle and other Projects marks an exciting expansion for Trigg Minerals into historically productive goldfields with strong critical mineral potential. The presence of both gold and antimony in this underexplored region aligns perfectly with our focus on high-value, strategically significant minerals. We look forward to applying modern exploration techniques to uncover new opportunities within this proven mineral province.”
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This article includes content from Trigg Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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