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Rincon Resources Provide Update on Exploration

20 November 2023 11:58
ASX:RCR

Rincon Resources (ASX:RCR) continues to make progress in its West Arunta and South Telfer exploration, both Projects located in Western Australia, providing drilling updates to market.

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Figure 1: Map of the Mammoth, Westin and Recurve Target areas.

South Telfer Project

Rincon continues to advance its South Telfer Project, located in the Paterson Range of WA, reporting in October the initial results from its maiden drillhole at the Mammoth Prospect identified a 29 metre zone of brecciated quartz and up to 5-10% sulphide mineralisation.

The Mammoth drilling program, which has now been completed, encompassed a total of 17 holes for 3,558 metres, testing both the Mammoth and Westin for Telfer-style stockwork and breccia copper-gold mineralisation.

The Company reports the drilling campaign was successful, noting at Westin, an additional three holes were drilled to follow up the first drill hole, 23STRC034, which intersected a 29 metre zone of quartz-pyrite mineralisation.

This intersect was down-dip of the high-grade historic gold intercept of 8 metres @ 3.85g/t Au from 84 metres.

All samples from the drilling campaign have been delivered to the laboratory with the Company awaiting results.

West Arunta Project

Rincon received heritage clearance for site work and drilling preparation at the Pokali IOCG Prospect, located within its West Arunta Project, earlier this month, now reporting the commencement of preparations ahead of its maiden drill campaign at the Project.

The drill program consists of two diamond holes, intended to drill up to 1,000 metres, testing a deep gravity-high anomaly below and adjacent to the outcropping IOCG copper-gold and Rare Earth Element mineralisation at Pokali.

The Company outlines drilling contractors are due to arrive on site by the end of November as it gears of the the start of the program.

Rincon is optimistic about the Projects potential, believing the prospect holds vast potential to host a significant copper-gold resource, further supported through the historical drilling and rock chip sampling which has been completed at the Project.

The historical exploration at Pokali has confirmed high-grade copper mineralisation over an approximate area of five by one kilometres.

The best recorded historic drilling results include:

  • 14 metres @ 1.00% Cu from 168 metres within 62 metres @ 0.39% Cu from 152 metres
  • 4 metres @ 1.36% Cu from 222 metres within 42 metres @ 0.33% Cu from 196 metres
  • 6 metres @ 1.36% Cu from 100 metres within 32 metres @ 0.46% Cu from 74 metres

Company Comments

Rincon Resources’ Managing Director Gary Harvey commented on the update.

“It’s an exciting time right now with assay results from Mammoth imminently due and diamond drilling at Pokali to commence within a matter of weeks,” he said.

“From what we’ve seen in the drill chips, there is a lot to like about Mammoth and Westin, particularly after our first hole 23STRC034, which intersected a 29m of zone of good-looking quartz-pyrite mineralisation down-dip of known high-grade gold mineralisation. The team is excited and eager to the results of 23STRC034 and the extra 3 holes we drilled around 23STRC034.”

“I’m also very pleased we are finally about to commence our maiden drilling program at our West Arunta Project. The Pokali IOCG Prospect presents a very real and exciting opportunity for a new discovery. We’d love to emulate the success of WA1 Resources (ASX: WA1) and land a discovery with a first drilling program!”

RCR’s Australian Stock Exchange-listed share price has risen 3.333% and is currently trading at $0.031 (12.00pm UTC+ 8 hours).

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