Inca Minerals Advances Hurricane Project with Stunalara Acquisition Gains

Inca Minerals Poised for Significant Gold Discovery at Hurricane Project

Inca Minerals Limited (ASX: ICG) is rapidly advancing toward its maiden drilling program at the Hurricane Gold Project in Queensland, with recent developments suggesting the company may be sitting on a much larger gold system than previously recognised. After gaining majority control in the Stunalara takeover, Inca is now well-positioned to develop this promising asset.

Land Access Secured and Drill Program Ready to Launch

Inca Minerals has successfully finalised land access agreements for its Hurricane Project and scheduled a cultural heritage survey, positioning the company to commence its inaugural reverse circulation (RC) drilling campaign. A drill rig has been provisionally secured, ensuring rapid mobilisation once final approvals are received.

The initial RC program will target four high-priority prospects—Hurricane, Bouncer, Holmes, and Tornado—testing both high-grade lode structures and newly identified gold-bearing quartz stockwork zones that have expanded the project’s potential footprint.

“With land access secured and the heritage survey scheduled, we are progressing toward commencement of the maiden RC drilling program at Hurricane,” stated the Company in its recent announcement.

New Discoveries Expand Gold Potential

Recent field reconnaissance at the Inca Minerals Hurricane Project has yielded significant results that substantially enhance the project’s prospectivity. Company geologists have identified multiple previously unrecorded zones of outcropping quartz stockwork veining adjacent to historically mined antimony-gold lodes.

Rock chip sampling of these newly discovered zones has returned impressive gold grades, including:

• • Multiple samples exceeding 1.0 g/t gold

• • A peak value of 4.39 g/t gold

• • One exceptional sample returning 20.57 g/t gold

Perhaps most significantly, at the Bouncer prospect, integration of the new stockwork assay data with historical results has defined a mineralised footprint exceeding 70 metres in width at surface—strong evidence of a broad and coherent zone of gold mineralisation extending well beyond the historically mined high-grade shoots.

A Two-Phase Gold System Emerges

The company’s technical team has identified a compelling geological model at the Inca Minerals Hurricane Project. Field observations indicate the stockworks pre-date the main phase of gold-antimony mineralisation, likely representing an earlier gold-dominant fluid event. This suggests the presence of a multi-phase orogenic gold system with potential for both:

1. 1. Discrete high-grade shoots (historically mined at 30-60 g/t gold)

1. 1. Broader zones of stockwork mineralisation (newly identified)

This dual-phase system is consistent with regional metallogenic models for the Hodgkinson Province and shares characteristics with other significant turbidite-associated gold deposits globally. Furthermore, the project shows similarities to new high priority gold targets recently identified by other explorers in the region.

Understanding Orogenic Gold Systems

Orogenic gold deposits form along major structural corridors when gold-bearing fluids migrate upward from deep crustal sources. These systems typically produce both high-grade narrow veins and broader zones of lower-grade stockwork mineralisation.

What makes them particularly attractive exploration targets is their potential for significant vertical continuity—many orogenic gold systems extend to depths exceeding 1-2 kilometres. The Hurricane Project displays the classic hallmarks of this deposit style:

• • Location within deformed metasedimentary rocks

• • Strong structural controls on mineralisation

• • Association with antimony and arsenic

• • Multiple mineralisation styles (veins, stockworks, breccias)

This geological setting shares similarities with major gold districts including Victoria’s Fosterville deposit and New Zealand’s Macraes mine.

Historical Context Highlights Opportunity

The Hodgkinson Goldfield, where the Inca Minerals Hurricane Project is located, produced approximately 9.7 tonnes of gold between 1875 and 1924 at an impressive average grade of 37 g/t. However, historical mining focused exclusively on the richest ore shoots, with recovered gold grades typically ranging from 30 to 60 g/t and an effective cut-off grade of around 15 g/t.

This historical mining approach means large areas of potentially mineralised ground—particularly the stockwork zones now being identified by Inca—remain completely untested by modern exploration techniques. As Inca nears completion of the Stunalara acquisition, the company is well-positioned to undertake comprehensive modern exploration across this promising terrain.

Next Steps: Drilling to Test Scale and Continuity

With preparations for drilling now in the final stages, Inca Minerals is positioned to rapidly advance the Hurricane Project. The upcoming RC program will:

• • Test multiple prospects across a wide area

• • Evaluate both high-grade lodes and broader stockwork zones

• • Determine vertical continuity of gold mineralisation

• • Provide valuable structural data to refine the geological model

Why Investors Should Watch Inca Minerals

Inca Minerals presents a compelling investment case for several key reasons:

1. Strategic Project Acquisition

The company’s recent successful takeover of unlisted Stunalara Metals has secured 100% ownership of the highly prospective Hurricane Gold Project in a proven goldfield.

2. Dual Mineralisation Style Potential

The presence of both high-grade lodes and broader stockwork zones at the Inca Minerals Hurricane Project provides multiple pathways to success. While historical mining focused exclusively on narrow high-grade shoots, Inca’s identification of extensive stockwork zones significantly expands the project’s economic potential.

3. Historical Underexploration

Despite historical high-grade production, the project area has seen little modern exploration. Historical mining in the district focused almost exclusively on the richest ore shoots, with an effective cut-off grade of around 15 g/t gold—leaving significant potential for both additional high-grade zones and broader mineralised systems.

4. Expanded Mineralisation Footprint

Recent field reconnaissance has significantly expanded the known mineralised areas at surface. At the Bouncer prospect alone, integration of new data has defined a mineralised footprint over 70 metres wide—far exceeding the historically mined high-grade shoots. This type of expansion has similarities to recent successes at other Australian gold projects where modern exploration techniques have substantially increased known resources.

5. Near-term Drilling Catalyst

With land access agreements finalised, cultural heritage surveys scheduled, and a drill rig provisionally secured, investors can expect a steady flow of news as Inca commences its maiden drilling program at the Hurricane Project.

The Geological Setting

The Hurricane Project is located within the Hodgkinson Province of northeastern Queensland, approximately 125 km northwest of Cairns. This geological setting is characterised by metamorphosed Siluro-Devonian turbiditic metasediments that have undergone multiple deformation events, resulting in tight folding, regional thrusting, and the development of brittle-ductile shear zones.

These structural features serve as primary controls on gold mineralisation, with the region displaying typical characteristics of orogenic gold systems—mineralisation hosted in quartz veins, breccias, and stockwork vein arrays formed along reactivated fault zones. The area shares geological similarities with regions where new discovery targets have recently been identified.

For gold-focused investors seeking exposure to a promising exploration story with near-term catalysts, Inca Minerals offers an opportunity to participate in the potential discovery of a significant gold system in one of Australia’s historically productive but underexplored goldfields.

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