Rincon Drills 1,350m at South Telfer, Acquires Crackerbox Project with 25km Strike
Rincon Resources advances its Western Australia exploration with new drilling at South Telfer and full acquisition of the Crackerbox Gold Project, while refining targets at Laverton.
- 14 RC drill holes completed at Hasties Main deposit, testing extensions beyond initial resource
- 100% acquisition of Crackerbox Gold Project with promising historic gold and copper results
- 48-hole air-core drilling and UAV magnetic survey completed at Laverton to refine gold targets
- Mining lease conversion underway for Hasties Southeast deposit
- Cash balance of $2.09 million and $97,520 raised via option entitlement offer
South Telfer Drilling Pushes Resource Boundaries
Rincon Resources has made significant strides at its South Telfer Project, located just 10 kilometres south of the established Telfer Mine. The company completed 14 reverse-circulation drill holes totalling 1,350 metres at the Hasties Main deposit, aiming to test a strike extension of approximately 600 metres, well beyond the original 200-metre footprint of its maiden mineral resource estimate announced earlier this year. While assay results are still pending, these efforts are expected to underpin an updated JORC-compliant resource estimate and support ongoing metallurgical test work.
In parallel, Rincon is progressing the conversion of tenement P45/1319, which hosts the Hasties Southeast deposit, into a mining lease. This step is crucial for advancing towards potential development and production phases.
Crackerbox Acquisition Bolsters Portfolio with High-Grade Potential
In a strategic move, Rincon secured 100% ownership of the Crackerbox Gold Project in the Murchison Goldfield, about 90 kilometres north of Meekatharra. The 62-square-kilometre project encompasses two major mineralised shear zones with a combined strike length exceeding 25 kilometres. Historical drilling has revealed encouraging intercepts, including 13 metres at 2.53 grams per tonne gold from shallow depths, and rock chip samples have returned gold grades exceeding 20 grams per tonne alongside notable copper values.
The geological setting is complex, featuring multiple structural episodes and a tectonic boundary between the Pilbara and Yilgarn cratons, which enhances the prospectivity for various deposit types including Banded Iron Formation-hosted gold and volcanogenic massive sulphides. Rincon’s recent rock chip sampling has confirmed these historic results, reinforcing the potential for near-surface, high-grade mineralisation that could provide early cash flow.
Laverton Drilling and Geophysics Refine Exploration Targets
At the Laverton Project, Rincon completed a 48-hole air-core drilling program covering nearly 2,900 metres, targeting two gold prospects west of Laverton township. The drilling intersected a variety of rock types, including Banded Iron Formation, and was complemented by a detailed UAV magnetic survey spanning 400 line kilometres. This survey revealed structural features and demagnetised zones closely associated with gold mineralisation, providing a refined geological framework for future exploration.
Although assay results showed only anomalous gold values, the data will inform a Stage 2 drilling campaign aimed at the highest-priority targets, with additional heritage and soil sampling planned to support this next phase.
West Arunta and Financial Position
No field activity was reported for the West Arunta Project during the quarter, as Rincon focuses on compiling detailed 2024 data to evaluate next steps, particularly in light of recent positive copper price movements. Financially, the company ended the quarter with a cash balance of $2.09 million and raised nearly $100,000 through a loyalty option entitlement offer. Related party payments amounted to $60,000, consistent with existing director remuneration agreements.
Rincon’s methodical approach across its four Western Australian assets reflects a commitment to systematic exploration and resource definition, positioning the company to unlock value through disciplined advancement of its gold and copper prospects.
Bottom Line?
With assays pending and mining lease progress underway, Rincon’s next moves will be critical to translating exploration into tangible resource growth.
Questions in the middle?
- When will the assay results from the South Telfer drilling be released, and how might they impact the resource estimate?
- What is the timeline and likelihood for the mining lease conversion at Hasties Southeast to be approved?
- How will Rincon prioritize and fund the next stages of drilling across its multiple projects given current cash reserves?
