Inca Pacific Resources Inc.

Inca Pacific Resources Inc.

January 04, 2005 08:30 ET

Inca Pacific Resources Inc.: Antoro Sur Drill Results AS-41 To AS-49


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: INCA PACIFIC RESOURCES INC.

TSX VENTURE SYMBOL: IPR

JANUARY 4, 2005 - 08:30 ET

Inca Pacific Resources Inc.: Antoro Sur Drill Results
AS-41 To AS-49

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 4, 2005) - Inca Pacific
Resources Inc. (TSX VENTURE:IPR) is pleased to present the analytical
results from diamond drill holes AS-41 to AS-49, from the 2004 drilling
campaign at the Antoro Sur Copper-Gold property near Huancavelica, Peru.
The highlights are provided in the table below, and the complete results
are presented on page 2 of this release. The majority of the holes were
drilled on 100 metre centres on north-south lines spaced 100m apart, and
two were drilled at closer spacings in geologically complex areas. The
area explored by holes AS-41 to AS-49 is in the north-central part of
the drill grid, and measures approximately 250m long (N-S) by 300m wide.
The 2004 drill hole grid was laid out to cover a NNW trending area
approximately 600m long by 600m wide.



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From To Length Copper Gold (i)Copper
Drill Hole (metres) (metres) (metres) (%) (g/t) Leachability
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AS-46 28.0 52.1 24.1 0.70 0.18 80%
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Including 30.0 42.0 12.0 0.97 0.25 78%
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AS-47 23.7 27.9 4.2 1.88 0.24 89%
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And 33.5 52.6 19.1 0.68 0.13 84%
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AS-48 34.0 44.5 10.5 0.91 0.18 94%
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AS-49 21.0 48.6 27.6 1.46 0.31 89%
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Including 21.0 34.0 13.0 2.37 0.49 91%
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(i) Leachability refers to the dissolution of copper into solution
either through the use of sulfuric acid (oxide mineralization) or
sodium cyanide (secondary sulfide mineralization).


The 2004 exploration target at Antoro Sur is a near-surface, gently
east-dipping "blanket" of supergene-enriched copper mineralization. The
copper is in the form of chalcocite and other 'grey copper' minerals,
with variable amounts of primary (hypogene) chalcopyrite. The host rock
is a very soft, friable, dark grey mixture of clay, sulphides, rock
flour, and larger rock fragments. In certain areas, particularly in
gullies and slide areas, erosion has cut through the near-surface
supergene blanket, creating a gap. On some steep hillsides, the
supergene copper mineralization has been oxidized and leached, leaving
behind only remnants of the original sulphides and a tell-tale gold
anomaly marking the original site of the copper sulphides. The soft host
rock can be very difficult to drill, particularly in areas of high
groundwater flows. The results from AS-43 were affected by caving rock
conditions, which caused poor core recovery. To investigate the impact
of this poor core recovery, another hole, AS-48, was drilled 43 metres
south-west of AS-43. The assay results and recovery were much improved,
as shown in the analytical results on page 2.

George Sivertz, P.Geo., the Qualified Person as defined by National
Instrument 43-101 for the Antoro Sur Project, is supervising a quality
control and quality assurance program designed by Inca Pacific. Logging
and sampling are completed at Inca Pacific's secure facility in the town
of Huancavelica, Peru. The NTW core is split and samples are transported
to the ALS Peru laboratory in Lima, Peru for sample preparation, gold
fire assay, and sequential leach copper analyses. In each batch of
samples sent to ALS Peru there are included: Coarse blanks, Duplicates
and Standards. All pulps are shipped to the ALS Chemex laboratory in
Vancouver and analyzed for copper and additional elements using aqua
regia digestion and inductively coupled plasma-emission spectroscopy
(ICP-ES). Check analyses for copper and gold will be performed by Acme
Analytical in Vancouver.



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ANTORO SUR COPPER-GOLD PROJECT
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ANALYTICAL RESULTS, DRILL HOLES AS-41 TO AS-49
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DRILL HOLE FROM TO LENGTH Cu AU LEACHABILITY (i)
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metres metres metres Percent G/t
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AS-41 14.0 18.8 4.8 0.42 0.05 88%
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Significance Close to intrusive contact near northern edge of
supergene zone.
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AS-42 26.0 36.0 10.0 0.45 0.13 58%
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Significance Infill hole 150metres south of AS-9 which had 0.75%
Cu over 7.62m.
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AS-43 27.5 36.6 9.1 0.45 0.10 89%
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Significance Infill hole 120metres south of AS-15.
Core recovery only 41.5%.
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AS-44 22.0 26.0 4.0 0.30 0.01 34%
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Significance Northeastern limit of 2004 grid. Strongly leached and
oxidized.
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AS-45 46.3 54.0 7.7 0.73 0.06 96%
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Significance Drilled 35 metres east of AS-16 which had 1.0% Cu
over 18.3m. Core recovery-50%.
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AS-46 28.0 52.1 24.1 0.70 0.18 80%
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Including 30.0 42.0 12.0 0.97 0.25 78%
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Significance Drilled 74 metres south-west of AS-45. Recovery 87%.
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AS-47 23.7 27.9 4.2 1.88 0.24 89%
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And 33.5 52.6 19.1 0.68 0.13 84%
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Significance Drilled on grid center 100 metres south of AS-43.
Improving copper grades.
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AS-48 34.0 44.5 10.5 0.91 0.18 94%
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Significance Check hole drilled 43 metres SW of AS-43.
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AS-49 21.0 48.6 27.6 1.46 0.31 89%
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Including 21.0 34.0 13.0 2.37 0.49 91%
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Significance Drilled 100 metres south of AS-47. Strong improvement
in copper grades. Core recovery 94%.
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(i) Leachability refers to the dissolution of copper into solution
either through the use of sulfuric acid (oxide mineralization) or
sodium cyanide (secondary sulfide mineralization).


A location map with holes completed can be viewed at
http://www.incapacific.com/s/PhotoGallery-Antoro.asp?ReportID=95109 or
on the company's website at www.incapacific.com.

Inca Pacific is a resource exploration company with a focus on copper,
gold and molybdenum projects in Peru. Visit our website at
www.incapacific.com for the latest corporate information.

INCA PACIFIC RESOURCES INC.

President and Director

Standard & Poor's Listed

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Inca Pacific Resources Inc.
    Clive Massey
    Investor Relations
    (604) 662-3902
    Email: cmassey@incapacific.com
    Website: www.incapacific.com
    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.