Lorna May

The Lorna May Project is located 325km east of Alice Springs in the Northern Territory and is within the Atnetye Aboriginal Land Trust. Lorna May is a Greenfields project located within the underexplored Arunta Block of the Northern Territory. It is considered prospective to host IOCG style mineralisation. This Project (tenement applications EL’s 32107 and 33151) is a joint venture between Inca Minerals (95%) and MRG Resources (5%).

The tenements that make up the project, EL’s 32107 and 33151, are still under application, with grant of tenure dependent on securing an exploration agreement with the Traditional Owners, represented by the Atnetye Aboriginal Land Trust. The company will inform the market as soon as the tenement is granted.

Lorna May was identified through interpretation of Geoscience Australia’s AusAEM survey results, with a major conductive anomaly identified. The anomaly measures in excess of 5km, extends to depth, and appears to occur beneath approximately 100m of cover. The conductivity response displayed indicates that this feature intruded into and disrupted the overlying lithology, likely in a rather violent manner, typical of IOCG brecciation events.

Through interrogation of several geophysical datasets, it is considered that main target at Lorna May is a discrete occurrence of coincident magnetic, gravity, and conductive anomalism. The size and inferred geometry of this feature suggest it is an untested exploration target of true Tier 1 potential.

The Project represents a tremendous opportunity as an early mover in an under explored region of Australia. The Company certainly looks forward to activating this project when it is granted.