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Rincon Resources Commence 2024 Exploration at West Arunta

31 January 2024 07:31
ASX:RCR
RCR

Rincon Resources (ASX:RCR) prepares to kick off its 2024 exploration campaign at the West Arunta Project, located in Western Australia. Planning to an extensive drilling, mapping, surveying and on-site field reconnaissance to be conducted over the next several months.

2024 Exploration

Rincon has released its exploration plans, set to commence late February this year.

  • Diamond drilling to test deep gravity-high targets for Cu and Nb/REE enrichment at depth below the known widespread shallow and outcropping mineral system.
  • Reverse Circulation drilling to test proximal targets under shallow undercover for Cu and Nb/REE enrichment, particularly recent anomalous REE trends highlighted from rock-chip sampling.
  • Detailed ground geophysical surveys at Pokali and selected priority target areas within E80/5241.
  • Ongoing, mapping and rock-chip sampling to continue at Pokali.
  • Regional site-reconnaissance and rock-chip sampling over other tenements within the project area.

Comprehensive Drill Program

In December last year, Rincon revealed its expansion of the West Arunta Project footprint to 234 square kilometres by successfully securing a new exploration license application.

The Company has received heritage clearance for site work at the Pokali IOCG Prospect, planning a drill program to test 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 in early December last year it had detected anomalous REE and total rare earth element (TREE) trends at the Pokali IOCG Prospect.

The drill programs are designed to test the highest priority areas at Pokali North and Pokali East, based on recent results from ­new mapping, rock-chip sampling and results from historic soil-sampling and drilling datasets.

Rincon reports highlights at Pokali North (Cu, Ag, REE’s) include:

  • PKC008 – 14 metres @ 0.67% Cu from 78 metres within 18 metres mineralised zone @ 0.57% Cu, 8.9g/t Ag
  • PKC007 – 30 metres @ 0.52% Cu from 36 metres within 46 metres mineralised zone @ 0.37% Cu, 12.1g/t Ag

Highlights at Pokali East (Cu, Au, Ag) include:

  • PKC023 – 6 metres @ 1.36% Cu from 100 metres within 32 metres mineralised zone @ 0.46% Cu
  • PKC027 – 4 metres @ 1.36% Cu from 222 metres within 42 metres mineralised zone @ 0.33% Cu
  • PKC024 – 14 metres @ 1.01% Cu from 168 metres within 62 metres mineralised zone @ 0.39% Cu from 152 metres

The comprehensive drilling campaign is bolstered by the Company’s latest $1.43 million placement.

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Figure 1: Pokali area, showing location of planned diamond holes DDH#1 and DDH#2, deep gravity-high targets, and rock-chip results

Company Comments

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

“The excitement of the West Arunta region continues with ever-increasing exploration activity,” he said.

“We are delighted to kick-off our 2024 exploration campaign from late February with several programs highlighting a strong early focus on our West Arunta Project.”

“We were fortunate to raise $1.43M via a placement in January which has allowed us to increase our planned drilling at Pokali. This will now see an RC drilling program test additional shallow copper/REE targets while the diamond drilling program to test deep gravity targets below the widespread shallow mineralisation, which has been well documented to-date.”

“The forthcoming exploration programs follow twelve months of knowledge building by the Company that has continued to advance the West Arunta Project and clearly demonstrated its enormous potential to host not only an IOCG copper-gold deposit of significant scale, but also carbonatite-related Nb-REE’s.”

RCR’s Australian Securities Exchange-listed share price has risen 8.11% and is currently trading at $0.040 (7.30am UTC+ 8 hours).

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