Perth, Australia — Rincon Resources Limited (ASX: RCR) is excited to announce a significant advancement in its exploration efforts at the West Arunta Project, where recent diamond drilling has confirmed the presence of IOCG-style (Iron Oxide Copper Gold) mineralisation.
The company's second diamond drill hole at the Pokali prospect, labeled '24WADD002,' reached a total depth of 634 meters. This hole has intersected multiple zones with moderate to intense magnetite alteration, along with quartz and sulphide veining containing copper sulphides such as chalcopyrite, bornite, and traces of native copper and rare visible gold. These findings underline the potential for a major IOCG deposit within the Pokali area.
The drill core is currently en route to Perth for detailed laboratory analysis, with results expected by late June to early July. Concurrently, Rincon is conducting a dipole-dipole induced polarisation survey and a reverse circulation drilling program at the site, aiming to further delineate the mineralisation extent and characteristics.
This drilling effort is part of Rincon's broader strategy to explore for critical metals necessary for the energy transition, leveraging its portfolio of projects in Western Australia which also includes the South Telfer and Laverton projects.
Rincon’s Managing Director, Gary Harvey said:
“Identification of magnetically altered core from hole 24WADD002 containing copper sulphide veinlets, native copper and visible gold confirms our long-standing belief in the highly anomalous historical copper, gold and related pathfinder element results from RC drilling and surface sampling at Pokali being related to a large IOCG mineral system. The preliminary observations from the diamond core also explains strong IP chargeability, gravity and magnetic anomalism at Pokali, providing a major leap forward in the understanding of Pokali for Rincon’s West Arunta Project, which also has strong potential for REE plus niobium mineralisation.
This second deep diamond hole was aimed at testing geophysical anomalism and the geological host rocks and mineral potential in the main Pokali gravity and magnetic anomaly trend. For me to witness core recovered at site containing copper related veining was special. Visual inspection of the drill core confirm that Pokali has potential to host a significant IOCG deposit. We are getting the core transported to Perth for detailed analysis and assaying, while we progress exploration at Pokali with IP surveying and the current RC drilling, while working on heritage clearing the new Avalon carbonatite rare earth element and niobium gravity target and other targets nearby for immediate drill testing.”
About us:
Rincon has 100% interest in three exploration assets in Western Australia that are highly prospective for copper, gold, Nb, REE’s, and other critical metals required for the energy transition. These are the South Telfer Project, West Arunta Project and Laverton Project.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
