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Rincon Resources Increases West Arunta Footprint

20 December 2023 09:29
ASX:RCR
Feature 3

Rincon Resources (ASX:RCR) have increased the footprint of its West Arunta Project to 234 square kilometres with the addition of a new exploration licence application.

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Figure 1: West Arunta Project map, showing the location of the New ELA.

Strategically Located

The new exploration licence is strategically proximal to Rincon‘s North Dovers Copper Prospect and subsequently provides an additional 8.5 kilometres of prospective strike, that North Dovers Prospect is associated with, to the West Arunta Project.

Rincon notes the application straddles the Central Australian Suture, a highly prospective structural corridor known to be associated with multiple mineral occurrences in the West Arunta Region such as: Acree (Ni), Grapple and Phreaker (Cu-Au-Ag-Co), (North Dovers (Cu), Pokali (Cu-Au-Ag-PtPd-REE), Pasquale (Cu-Au), Arunta West (REE), Mt Webb (Cu), Caspian (Cu) and Rhea (Cu).

This places the Company in a strategic position as it prepares for further exploration at the Project.

The West Arunta Project

In November, Rincon received heritage clearance for site work and drilling preparation at the Pokali IOCG Prospect, located within the West Arunta Project.

The Company is now in the process of preparing for 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 (REE) mineralisation at Pokali.

Rincon is optimistic about the Project’s potential, announcing earlier this month it had detected anomalous REE and total rare earth element (TREE) trends at the Pokali IOCG Prospect.

Notably, rock-chip samples yielded 0.48% TREE at KWRK094, 0.43% TREE at KWRK104, and 0.25% TREE at KWRK107, emphasising the region’s substantial geological potential.

The rock-chip samples not only confirmed the existence of an anomalous REE trend (Trend-1) southeast of Pokali North, but unveiled a second new anomalous REE trend (Trend-2) southwest and west of Pokali North and Jewel respectively.

Company Comments

Rincon Resources Managing Director Gary Harvey commented on the Company’s current activities.

“In the West Arunta, we are strategically focused on the CAS and other favourable structures and geology known to have an association with IOCG-style copper/gold, orogenic lode gold, niobium-REE, and other critical metals including uranium, within the region,” he said.

“An opportunity arose where ground became available that met our targeting criteria. This doesn’t always occur, and we are very fortunate the ground is adjacent to our existing tenements.”

“We continue to review and look for opportunities to improve our West Arunta project area whether it be via application or acquisition.”

RCR’s Australian Stock Exchange-listed share price has risen 8% and is currently trading at $0.027 (9.00am UTC+ 8 hours).

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