Inca Minerals Limited to advise that it has successfully concluded negotiations with the landowner of key areas within its Frewena IOCG-SEDEX Project in the East Tennant Province, Northern Territory. The breakthrough marks an important step towards the planned commencement of drilling at Frewena Project to test a number of high-priority IOCG-SEDEX targets outlined by geophysical programs in recent months. As a result of the successful negotiations with the landowner, a range of key matters have now been agreed ­ including earthmoving rates, new track building compensation rates, water rates, water points and water extraction protocols, amongst others.

With the contract with the drilling service provider fully executed, consent from the landowner to conduct exploration in accordance with the Mining Management Plan, and earthmoving and water rates agreed, drilling can now proceed at Frewena subject to weather conditions. The area is currently affected by the wet season in Northern Australia. Inca will expedite the start of drilling as soon as is practically possible, weather permitting.