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Rincon Resources Confirms Mineralised System at the Westin Prospect

3 January 2024 09:02
ASX:RCR

Rincon Resources (ASX:RCR) announces promising results from the Mammoth drilling program at its South Telfer Project, located within the Paterson Range, with significant and wide gold mineralisation confirming the presence of a mineralised system at the Westin Prospect.

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Figure 1: The ‘Mammoth Target’ and the ‘Westin Prospect’

A Promising Campaign

The Mammoth reverse circulation (RC) drilling program consisted of 17 holes, drilled over 3500 metres and aimed to test targets across the Mammoth and Westin Prospects.

The campaign has continued to show promise, with Rincon reporting in October the initial results from the maiden drillhole at the Mammoth Target identified a 29 metre zone of brecciated quartz and up to 5-10% sulphide mineralisation.

Drilling at Westin has since yielded wide zones of gold mineralisation, which subsequently confirms the presence of a mineralised system at the prospect.

Significant intersections ≥ 1.0g/t Au at Westin include:

  • 23STRC034: 2 metres @ 1.19g/t Au from 123 metres downhole; within a mineralised zone of 19 metres @ 0.31g/t Au, 810ppm As & 45ppm Bi from 112 metres
  • 23STRC049: 1 metre @ 1.51g/t Au from 125 metres downhole; within a mineralised zone of 10 metres @ 0.38g/t Au & 552ppm As from 125 metres

Significant intersections ≥ 1.0g/t Au at the Mammoth Target include:

  • 23STRC043: 8 metres @ 1.08g/t Au from 288 metres downhole, including 4 metres @ 1.69g/t Au from 292 metres.
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Table 1: Further significant intercepts from the drilling campaign (Gold >= 0.20 g/t Au).

Strategic Targets

The drillholes in this campaign were strategically located to test areas surrounding the historic drillhole WSA08039, which intercepted 8 metres @ 3.85g/t Au from 84 metres.

The follow up holes to this historic intercept have been a high priority for Rincon since its ASX listing in 2020.

Several holes drilled at the Westin Prospect, designed to follow-up on WSA08039, confirmed the presence of a developing gold system and highlighted the potential for multiple sub-vertical quartz-pyrite lodes, which the Company believes may extend over a strike of up to 400 metres, open in all directions.

The Westin Prospect

A total of six holes were completed at Westin. Holes 23STRC034 and 048-050 tested down-dip and up-dip of WSA08039, and intersected wide zones of anomalous gold with higher gold grades 0.50 g/t Au.

The results of the drilling at Westin have confirmed the presence of a potentially significant mineralised system, and thus, Rincon plans to complete further work to ascertain the full scale of mineralisation.

The Mammoth Target

Drill holes at the Mammoth Target aimed to test for gold mineralisation associated with various structures potentially interacting with the dolerite contact zone.

Rincon reports only one hole, 23STRC038, intersected the dolerite at 239 metres downhole, with moderate quartz-pyrite veining and silicification at the contact and weak disseminated pyrite in the dolerite to the end-of-hole.

The Company notes elevated copper (up to 0.27% Cu ) and tin (up to 2.05ppm Sn) was present within the dolerite, but no significant gold mineralisation was encountered.

Two gold-arsenic trends were also identified along the northeastern dolerite contact zone and at Westin respectively, which offers the potential for mineralisation to occur over several hundreds of metres, warranting further investigation.

Company Comments

Rincon Resources Managing Director Gary Harvey said he’s encouraged by the results.

“They have confirmed the presence of gold mineralisation associated with targeted structures at both Westin and Mammoth and importantly, have provided sufficient evidence to warrant further investigation,” he said.

“Gold-pathfinder geochemistry has also told us we are in a potentially significant mineralised system at Westin. The fact we have observed similar geology, structures, and alteration like that observed at Dolphy and Ironclad , just eight kilometres north west along trend, is telling us we may not be too far away from a new discovery.”

“We’ll now take some time to fully digest all the data available to us to determine our next steps.”

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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