The aim of these surveys is to evaluate the occurrence at depth of any primary sulphides, principally chalcopyrite, that may be the source of the supergene enrichment mapped at the surface in these abandoned mines. A geophysical consultant has been commissioned to provide a quote for the capturing, processing and interpretation of this IP survey. At the north-east of MaCauley Creek (Wallaroo Prospect), RC drilling is recommended to test a zone of anomalous copper mineralisation identified from rock chips geochemistry coincident with a 1000 x 400m NE-SW oriented magnetic feature.

This magnetic feature lies on a trend that stretches for 8km into the Central Prospect, broadly simulating the NE-SW orientation of the magnetics, which define the Mt Moss mines, located 7km to the north-west. The Wollaroo Prospect, which has been recommended for RC drill-testing, is defined by strong magnetics coincident with highly anomalous copper geochemistry at surface. This area is highly accessible with a sealed road running through part of it to Mount Moss mines and Zigzag stations.

The Wallaroo target area is also cross-cut by station tracks and fence lines, providing good access for exploration activities. This project is located approximately 30km south-east of the Jervois base metals projects (Cu-Ag-W-Pb- Zn), with estimated resources of 20.9Mt @ 2% Cu and 32g/t Ag, hosted in the Bonya Metamorphics. Based on regional structural features, outcropping mineralisation, alteration systems, geochemistry and geophysical anomalisms, several prospects have been identified within Inca's Jean Elson Project.

Several prospects have now been mapped at the Jean Elson Project, and mineralisation and other prospective geology has been identified. However, for the 2023 field season first-pass RC drilling is planned only for the Camel Creek and Spinifex Pigeon Prospects where compelling targets have been identified. These targets are defined by zones of anomalous rock chip geochemistry and chargeability trends coincident with conductivity, which were identified from Gradient Array IP datasets captured in 2022.

The Camel Creek target is particularly important because it is associated with outcropping copper, local gravity features, shearing and faulting, and high temperature alteration of the host granites which are all the geological ingredients required for large-scale mineral deposits. Target generation and interpretation of regional datasets is ongoing in the other prospects and will culminate with drill-testing when viable drill-hole sites are determined. In 2022, Inca completed a reconnaissance drill program at the Mount Lamb gravity/magnetic trend within the Frewena Project, East Tennant, which is located at the Barkly Tableland 215km east of Tennant Creek.

Following a review of what were considered to be encouraging drill results, one RC drill-hole (FW220011) is initially planned to follow up anomalous Cu-Ag-Zn geochemistry and IOCG/SEDEX signature, geology and alteration characteristics, which were intersected in drill-hole FW220008 located north-east of the Mount Lamb trend. Anomalous geochemistry in FW220008 included 54m from 473m @ 1.3g/t Ag, 66m of low but anomalous copper from 461m @ 187ppm Cu, 18m from 313m @ 0.21% Zn, 70m from 431m @ 693ppm Zn and 24m from 501m @ 0.1% Zn. A 450 - 500m drill-hole (FW220011) will sufficiently test the modelled geophysical features.

Modelling of UBC gravity and magnetics inversion data for the Frewena Project is ongoing, aimed at identifying other shallow and compelling targets that will be cost-effective to drill-test. One deep percussion-diamond drill-hole (~1,000m) is also being considered at Frewena Fable, targeting modelled strong magnetics coincident with gravity isosurfaces. More than one Priority 1 target was identified by AMAGRAD and Gravity Survey work conducted in 2020, and modelling is ongoing to refine the position of the proposed drill-hole.

During the 2022 field season, Inca commissioned the evaluation/interpretation of gravity data over the Frewena Project area, which led to the identification of significant phosphate prospectivity within the Frewena Project area. The Wonarah phosphate deposit, which is located about 20km to the south-east of Frewena Far East, is hosted within the Gum Ridge Limestones and a gently faulted sub-basin filled with Cambrian sediments. Existing drill-holes roughly define the Wonarah phosphate deposit on a gravity low, which appears to correlate with several gravity anomaly lows within Inca's tenements.

A review of historical exploration drilling on Frewena East has led to the identification of an Exploration Target of 453-762 million tonnes at 14-18% phosphate. In addition, the AMAGRAD survey completed in 2022 identified broad and subtle gravity anomaly lows within the Frewena Frontier Project area, which potentially represent sub-basins like the one hosting the Wonarah phosphate deposit, one of the larger phosphate projects in Australia with an applied minimum cut-off of 15% P2O5 Wonarah has a total resource of 532.9Mt 1. During the 2023 field season, Inca Minerals plans to complete a scout reconnaissance RC drill program over the identified zones of modelled gravity lows, at Frewena Frontier, targeting phosphate mineralisation like the Wonarah (Avenira) Phosphate Deposit.