- Rincon Resources (RCR) receives results from the first five holes from its maiden drill program at its South Telfer Gold-Copper Project in WA
- The company is undertaking a 27 hole drilling program at the Hasties Prospect to confirm historical results and test for extensions to known mineralisation
- Grades peaked at 2.9 per cent copper and 17.4g/t gold and they confirm the presence of shallow, high-grade, copper-gold mineralisation
- Follow up drilling has been planned under Rincon’s phase two drilling program which is scheduled to begin in late October
- Rincon ends the day 17.3 per cent in the red with shares trading at 21.5 cents
Rincon Resources (RCR) has received results from the first five holes from its maiden drill program at its South Telfer Gold-Copper Project.
The South Telfer Project lies in the Paterson Province of Western Australia, 12 kilometres south of the Telfer Gold Mine.
It consists of six exploration licences and two prospecting licences, covering a total area of roughly 540 square kilometres.
Rincon is undertaking a 27 hole, totalling 4944 metres, reverse circulation (RC) drilling program at the Hasties Prospect.
The aim of this drilling is to confirm historical drilling results and test for extensions to the known mineralisation.
Significant results include nine metres at 1.03 per cent copper from 45 metres including two metres at 2.9 per cent copper, and three metres at 7.18 grams of gold per tonne (g/t) from 31 metres including one metre at 17.4g/t gold.
These results are encouraging as they confirm the presence of shallow, high-grade, copper-gold mineralisation in multiple breccia zones.
Results for the remaining 22 holes are expected in three to four weeks.
CEO Gary Harvey is pleased by these ‘exceptional’ results.
“These are exceptional results from the first five holes drilled at the Hasties South-East zone at the Hasties Prospect, just 12 kilometres south of the world-class Telfer Gold Mine,” Mr Harvey said.
“These initial results are approximately one kilometres southeast of the main Hasties mineralised zone and demonstrate the potential of the South Telfer Project to host shallow high-grade copper and gold mineralisation.”
Follow up RC and diamond drilling has been planned under Rincon’s phase two drilling program scheduled to begin in late October.
Logistical planning is also well underway with statutory approvals received and heritage surveys planned for mid-October.
Rincon has ended the day 17.3 per cent in the red with shares trading at 21.5 cents in a $13.34 million market cap.