Rincon Resources has advanced its strategic partnership with Greatland Resources through a staged farm-in and joint venture agreement, while delivering promising drilling results that extend the Hasties gold-copper deposits near the Telfer mine.
- Multi-stage farm-in JV agreement with Greatland Resources on Telfer South tenements
- Greatland can earn up to 75% interest by funding exploration and mining decisions
- Recent drilling extends Hasties Main deposit mineralisation by 150m along strike
- Updated Mineral Resource Estimate for Hasties expected by end of Q1 2026
- Crackerbox Gold Project acquisition completed; exploration planning underway
Strategic Joint Venture with Greatland Resources
Rincon Resources Limited has taken a significant step forward in its Telfer South Project by entering a multi-stage farm-in and joint venture agreement with Greatland Resources. This partnership covers a substantial portion of Rincon’s tenements adjacent to Greatland’s established Telfer gold-copper mine in Western Australia. Under the agreement, Greatland can earn an initial 51% stake by investing $2 million in exploration, with the potential to increase its interest to 75% by fully funding a decision to mine. Rincon retains a joint venture position and will benefit from toll-processing ore at Greatland’s Telfer plant, positioning both companies to leverage existing infrastructure efficiently.
Encouraging Drilling Results at Hasties Deposits
During the December quarter, Rincon completed a 14-hole reverse circulation drilling program targeting the Hasties Main gold-copper deposit, located just 10 kilometres south of the Telfer mine. The drilling successfully extended near-surface mineralisation by approximately 150 metres along strike, confirming that the deposit remains open laterally and at depth. Highlights include high-grade gold and copper intersections such as 23 metres at 1.05 grams per tonne gold and 28 metres at 0.95% copper. These results underpin Rincon’s strategic goal to substantially increase the Mineral Resource Estimate (MRE), which currently stands at 870,000 tonnes grading 0.96 g/t gold and 0.26% copper.
Upcoming Resource Update and Geophysical Survey
Rincon plans to deliver an updated MRE for the Hasties deposits by the end of the first quarter of 2026, incorporating the latest drilling data and new density measurements. Complementing this, the company has initiated a MobileMT Helicopter geophysical survey designed to image deeper mineralisation targets beneath the known deposits. Although results from this survey are pending, they are expected to refine exploration targets and guide future drilling campaigns.
Crackerbox Gold Project Acquisition and Exploration Plans
In addition to progress at Telfer South, Rincon has completed the acquisition of the Crackerbox Gold Project in the Murchison Gold Field, Western Australia. While no fieldwork was conducted during the quarter pending title transfer, internal data reviews have identified promising mineralised shear zones and high-grade historic drill intercepts. The company is preparing for exploration activities focused on the Mt Maitland South prospect, which features mineralised structures open to further expansion.
Financial Position and Outlook
Rincon reported cash outflows from operating and investing activities during the quarter, ending with a cash balance of approximately AUD 1.24 million. The company anticipates a reduction in expenditure as it transitions to the next phase of exploration. While no immediate plans for capital raising were disclosed, the farm-in agreement with Greatland provides a pathway for funding exploration and development activities at Telfer South.
Bottom Line?
As Rincon advances its joint venture and exploration programs, upcoming resource updates and survey results will be critical to defining its growth trajectory.
Questions in the middle?
- How will Greatland’s increasing stake influence Rincon’s operational control and future earnings?
- What impact will the pending MobileMT geophysical survey have on exploration targeting and resource expansion?
- Can Rincon secure additional funding to sustain exploration beyond current cash reserves if needed?