Rincon Resources Reveals Encouraging Copper Mineralisation at Pokali
RINCON RESOURCES LIMITED (RCR) Share Update July 2024 Tuesday 30th
Rincon Resources Unveils Promising Copper Mineralisation at Pokali
Rincon Resources Limited (ASX: RCR) has announced promising results from its recent drilling program at the Pokali IOCG Prospect, part of the West Arunta Project in Western Australia.
Instant Summary:
- Multiple zones of anomalous copper mineralisation intersected.
- Best intercepts include 7m @ 0.15% Cu and 4m @ 0.39% Cu.
- Geochemical analysis indicates potential for extensive IOCG system.
- Copper pathfinder elements identified to assist in future exploration.
- Upcoming detailed airborne magnetic survey planned.
Drilling Results
The recent drilling program at the Pokali IOCG Prospect has yielded multiple zones of anomalous copper mineralisation. Notable intercepts include 7m @ 0.15% Cu from 196m and 4m @ 0.39% Cu from 42m. These results were obtained from both reverse circulation (RC) and diamond (DDH) drilling at various locations within the prospect, including Pokali East, Pokali North, and Jewel.
Significant intercepts include:
- 24WADD002 – 7m @ 0.15% Cu from 196m incl. 1m @ 0.51% Cu
- 24WADD002 – 1.04m @ 0.18% Cu from 391.96m incl. 0.23m @ 0.34% Cu
- 24WARC006 – 4m @ 0.39% Cu from 42m
- 24WARC007 – 4m @ 0.32% Cu from 122m
- 24WARC011 – 2m @ 0.24% Cu from 104m
- 24WARC012 – 10m @ 0.20% Cu from 42m
Geochemical Analysis
The geochemical analysis has revealed zoned alteration and trace element signatures indicative of Iron Oxide Copper Gold (IOCG) systems. This analysis has identified a suite of copper pathfinder elements that are known to be associated with IOCG-type mineralisation in various jurisdictions. The mapping of these alteration zones and pathfinder elements will be crucial in vectoring towards higher-grade copper mineralisation.
Specifically, the analysis has identified strong copper pathfinder elements such as Au, Ag, Bi, Te, Mo, In, Se, and Co. These elements are known indicators of IOCG mineralisation and will aid in refining exploration targets.
Future Exploration Plans
Rincon Resources plans to combine these drilling results with existing geophysical, geological, and structural models to refine their exploration strategy. A detailed airborne magnetic survey is set to commence in the coming weeks to provide greater lithological and structural interpretation, particularly for establishing targets in covered areas.
The company will also undertake an extensive rock-chip sampling program across all areas of outcrop to enable detailed mapping of the alteration zones. This will further assist in vectoring towards the heart of the IOCG system where higher-grade copper mineralisation is likely to be found.
The positive drilling results and geochemical analysis suggest significant potential for an extensive IOCG system at Pokali. This could lead to increased investor interest and a potential rise in Rincon Resources' stock price. The upcoming detailed airborne magnetic survey and further exploration activities will be crucial in confirming the extent of the mineralisation and its economic viability.
Investor Reaction:
Analysts are likely to react positively to the promising drilling results and the identification of copper pathfinder elements. The planned detailed airborne magnetic survey and further exploration activities are expected to provide additional data to support the potential for an extensive IOCG system at Pokali.
Conclusion:
Investors should closely monitor Rincon Resources' upcoming exploration activities and the results of the detailed airborne magnetic survey. These developments will provide further insights into the potential of the Pokali IOCG Prospect and could significantly impact the company's stock value. Stay informed on Rincon Resources' progress and consider the potential long-term benefits of this promising exploration project.