Rincon Resources launches drilling at West Arunta1 May 2024 09:09
Https://themarketbull.com.au/2024/05/01/rincon-resources-launches-drilling-at-west-arunta/
Rincon Resources Limited (ASX:RCR) has kickstarted its inaugural reverse circulation (‘RC’) drilling campaign at the West Arunta Project in Western Australia, aiming to probe 4 pivotal target zones, each harbouring substantial potential for IOCG copper-gold mineralisation.
Today’s announcement follows an incredible surge in the company’s share price, up over 300% in the past month, driven by the buzz surrounding its potential ‘bullseye’ target discovery.
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Figure 1: Plan of the Pokali IOCG Prospect area showing RC drilling areas (yellow dotted outlines), overlying 3D inversion models of residual gravity (blue) and magnetic susceptibility (dark red) iso-surface shells.
Exploration focus
The RC drilling campaign will explore up to 2000 metres across 4 distinct target areas in pursuit of IOCG copper-gold mineralisation.
At Pokali East, the focus lies on extending IOCG copper mineralisation by up to 600 metres eastward from previous drilling interceptions, including:
PKC024 – 14m @ 1.00% Cu from 168m within 62m @ 0.39% Cu from 152m,
PKC027 – 4m @ 1.36% Cu from 222m within 42m @ 0.33% Cu from 196m, and
PKC023 – 6m @ 1.36% Cu from 100m within 32m @ 0.46% Cu from 74m.
Dune emerges as a promising prospect, with drilling aimed at probing the newly identified gravity target for hematite-breccia style IOCG copper-gold mineralisation, spanning 2 kilometres along a major fault zone.
Meanwhile, Pokali North awaits further testing, with additional drilling slated to explore the magnetic/gravity target area, believed to host not only IOCG copper-gold but also rare earth element mineralisation, following rock-chip sampling results which returned anomalous TREE values up to 0.48%.
Drilling efforts will also target the Jewel area, testing a newly delineated magnetic/gravity anomaly, reminiscent of the deep geophysical target observed at Pokali East.
Looking ahead
With the RC drilling program now underway, Rincon Resources anticipates completion within approximately 2 weeks.
Following this, assay results are expected to be available by June, shedding light on the mineral potential of these target areas.
Rincon remains open to extending the program beyond the initial 2,000 metres, contingent upon visual observations of IOCG alteration and copper sulphide mineralisation.
Management commentary
Rincon Resources Managing Director, Gary Harvey, expressed satisfaction with the commencement of the RC drilling program.
“We are very pleased with the arrival of the RC drilling rig and the commencement of this initia
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