Inca signs option agreement over Santa Rita
PERTH (miningweekly.com) – Junior explorer Inca Minerals has secured an option over the Santa Rita silver/lead/zinc project, in central Peru.
The ASX-listed company told shareholders on Tuesday that should Inca move to acquire the project, the company would be liable for a $1.77-million consideration, with the payments to be staggered.
Inca would also be liable for a 20% net smelter royalty over the project. However, the junior has retained a 20-year option to buy back 50% of this net smelter royalty for $1-million.
The option agreement would span a period of five years.
The Santa Rita project is located in the rich mineral belts of central Peru, and past extensive rock chip sampling has identified six high-grade silver/lead/zinc veins and one high-grade silver/lead/zinc manto.
Additional veins and mantos have also recently been discovered and an extensive grid-soil sampling programme has identified a 700 m by 500 m area of more than 1% zinc extending well beyond the known veins and mantos.
Inca said on Tuesday that the company intended to develop the high-grade veins and mantos, with drilling to start in the soonest possible time frame, subject to the grant of an early stage drill permit.
The company would also conduct geophysical surveys to obtain a clearer understanding of the mineralised system, while targets for drill testing would be generated and prioritised.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
