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Rincon Resources unveil new drill targets at West Arunta Project

17 June 2024 13:20
ASX:RCR

Rincon Resources (ASX:RCR) have announced the results from a recent geophysical survey at the Pokali Prospect, part of the West Arunta Project in Western Australia. The dipole-dipole induced polarisation (DDIP) survey has revealed a significant 2.7 km long IP chargeability trend (DDIP Trend).

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Figure 1: Plan view of Pokali IOCG Project showing location of all DDIP survey lines (solid black lines), proposed infill DDIP survey lines (dashed black lines), and location of Rincon’s recent RC and diamond holes.

Three priority targets

Inverted 3D-modelling has highlighted three high-priority zones, DDIP01, DDIP02, and DDIP03. These zones present new, high-priority targets for iron-oxide-copper-gold (IOCG) mineralisation, with historic RC drill holes (PKC004 and PKC005) between DDIP02 and DDIP03 showing promising copper results.

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Figure 2: 3D view looking down and to the northwest on the Pokali Prospect area showing historic drill-holes and recent RC and diamond drill-holes completed by Rincon. Note the location of the DDIP trend (dashed lines) and most-intense anomaly zones (DDIP01 to DDIP03).

The historic drilling results included 6m @ 1.01% Cu from 124m and 6m @ 0.89% Cu from 156m. Planning for a RC drill program is underway to test these new targets (DDIP01, DDIP02, and DDIP03) directly.

Management comments

Rincon’s Managing Director Gary Harvey said “Not only has the DDIP survey highlighted a promising new chargeability trend, the three discrete chargeability highs, DDIP01, DDIP02, and DDIP03 along this trend have never been directly tested.

“Historic drilling intersected high-grade copper mineralisation directly in the middle of targets DDIP02 and DDIP03, which provides a high level of confidence that direct testing of these strong IP chargeability targets will intersect high-grade copper sulphide mineralisation.”

Next steps

Three more infill DDIP survey lines are planned to refine the trend and potentially extend it westward along with a survey line over the Surprise gravity anomaly, boasting a surface area of about 1.5 km long by 700m in width.

RCR’s Australian Security Exchange-listed share price is currently trading at $0.075 (1:15 pm UTC+ 8 hours)

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