Rincon Resources (ASX: RCR) reports that it has commenced a technical review following recent diamond drilling (DD) activities at the Hasties Prospect, as part of its flagship South Telfer Copper-Gold Project in Western Australia.
The results, despite successfully testing the Hasties Deeps target, failed to intersect any ‘significant’ gold or copper mineralisation, with the best gold result returning 0.25m @ 0.11g/t Au from 498.15m and was associated with weak disseminated pyrite and chalcopyrite.
Speaking on the results, Rincon Managing Director, Gary Harvey, said: “Despite these poor results from our first diamond hole, the observed alteration, brecciation, veining and sulphides confirm the structures and fluid pathways are there, which is encouraging, we just didn’t encounter a zone carrying significant copper-gold mineralisation.
“There remains plenty of upside however at shallower depths at Hasties, Frenchmans and Kurili Hill Prospects”
There remains plenty of upside however at shallower depths at Hasties, Frenchmans and Kurili Hill Prospects.
It’s important we complete our technical review ahead of further drilling, to better understand the Hasties mineralised system and the role, if any, the targeted dolerite sill has on the copper-gold mineralisation that surrounds it at shallower depths.
While this is a setback for Hasties, the Company continues to move ahead with its plans to commence aircore drill testing its priority targets along the Telfer-Westin and Hasties-Grace Trends as soon as possible.”
The company also notes that the recently commenced technical review will determine the next steps for the Hasties Prospect, specifically whether targeting mineralisation at depth that is associated with the Dolerite remains part of the ongoing exploration strategy.
However, the potential for additional shallow mineralisation along strike within the Hasties Main and Hasties Southeast Zones still remains, as well as the newly identified and untested potential hosted within the Frenchman’s and Kurili Hill Prospects.
The South Tefler Project is located within the Paterson Province of Western Australia and covers a total land tenure of about 540km-square and greater than 40km strike of prospective land that is known to host ‘significant’ gold and copper mineralisation.
The project is comprised of six exploration licences and two prospecting licences and has seen previous, yet limited exploration by Newcrest Mining (ASX: NCM) who identified ‘significant’ gold and copper mineralisation within the Hasties Prospect.
With the technical review now underway, Rincon announces that it has postponed the remainder of phase two reverse circulation (RC) drilling until completion of the review, however plans to commence a 10,000m aircore (AC) drilling campaign to test targets along the Tefler-Westin and Hasties-Grace Trends.
Rincon Resources Limited has a 100% interest in three ‘highly prospective’ copper and gold projects in Western Australia: South Telfer, Laverton and Kiwirrkurra. Each project has been subject to historical exploration which has identified major mineralised systems which Rincon intends on exploring in order to delineate copper and gold.
Images: Rincon Resources Ltd
