Can Rincon’s New Drilling Unlock Telfer South’s Hidden Gold Potential?

Exploration Momentum at Telfer South

Rincon Resources Limited (ASX – RCR) has recently wrapped up a 14-hole reverse circulation drilling program at its Hasties Main deposit within the Telfer South Gold Project, located approximately 10 kilometres south of the established Telfer gold-copper mine in Western Australia. This campaign aimed to test a prospective strike extension of around 600 metres, significantly expanding beyond the original 200-metre footprint that underpinned the maiden Mineral Resource Estimate earlier this year.

The drilling targeted both northern and southern extensions of the Hasties Main deposit and included samples from within the main zone to support initial metallurgical test work. While assay results are still pending and expected in early November, the program represents a strategic step in expanding the resource base and refining the geological model of this structurally complex deposit.

Looking Deeper with Geophysics

Complementing the drilling, Rincon plans to undertake a Mobile Magnetotelluric (MT) geophysical survey over the Hasties block in the December quarter. This survey aims to detect deep magnetic and electromagnetic anomalies beneath the known gold-copper resource, inspired by the success of similar techniques at the nearby Havieron deposit, a substantial 7 million ounce gold resource located 45 kilometres east of the Telfer mine.

Such geophysical insights could reveal deeper mineralisation targets, potentially analogous to Havieron’s deep-seated orebody, and guide subsequent drilling campaigns. However, this survey awaits necessary permitting and approvals before commencement.

Laverton Project – Early Signals and Future Potential

At Rincon’s Laverton Gold Project, a recent air-core drilling program comprising 48 holes over 2,874 metres focused on two target areas identified through historical anomalous intercepts, recent soil geochemical data, and UAV magnetic surveys. The results yielded low-grade gold intercepts, with the best being 1 metre at 0.58 grams per tonne and 1 metre at 0.53 grams per tonne.

While these grades are modest, the company remains optimistic about the broader Laverton package, noting that only a fraction of the prospective areas have been tested so far. The integration of historic data with new geophysical surveys is expected to refine targeting models for future exploration.

Next Steps and Market Implications

Rincon’s immediate focus is on receiving and interpreting the pending assay results from Hasties Main, which will inform an updated JORC Mineral Resource Estimate. Subject to these results and regulatory approvals, the company plans to initiate a second stage drilling program aimed at expanding the resource both laterally and at depth.

Simultaneously, the Mobile MT survey will provide critical data to assess deeper mineralisation potential. At Laverton, further heritage surveys and drilling are planned to test high-priority targets identified through integrated geological and geophysical analysis.

Overall, Rincon’s methodical approach to exploration, combining drilling with advanced geophysical techniques, positions it well to unlock value from its Western Australian gold assets amid a supportive gold price environment.