Rincon Resources Validates High-Grade Targets and Advances West Arunta JV

Historic High-Grade Assays Extend Telfer South Mineralisation

Rincon Resources (ASX:RCR) has bolstered its exploration narrative with the validation of an additional 478 historic rock chip samples from Newcrest Mining's 1990s campaigns, confirming high-grade gold and copper mineralisation at the Telfer South Hasties prospect in Western Australia. These assays reveal gold grades up to 10.5 g/t and copper up to 0.13%, extending the Hasties Zone strike length to over 1.1 kilometres and leaving it open for further discovery.

Beyond Hasties, the Padion target, situated roughly 4 kilometres northeast, also shows promise with historic rock chips grading as high as 10.9 g/t Au and 1.5% Cu, supported by new surface geochemical data. Rincon has supplemented this dataset with 103 new rock chip samples from the Hasties Zone, with assays pending, aiming to refine and infill historic results.

Mobile MT Survey Unveils Deep, Undrilled Targets

Complementing the surface sampling, Rincon completed an 89 line-kilometre Mobile Magnetotelluric (MobileMT) airborne survey across Telfer South. The geophysical data highlighted a significant deep resistive body located more than 200 metres below surface, aligned with the Hasties Zone strike and previously untested by drilling. Additionally, near-surface resistive anomalies coincide with historic high-grade rock chip locations, suggesting potential continuity of mineralisation at depth.

The survey also identified resistive zones at the Padion prospect, with discrete anomalies earmarked for ground follow-up. These geophysical insights have sharpened drill targeting ahead of the company's planned reverse circulation (RC) drilling campaign.

Drilling Programmes Ready to Test Extensions

Rincon has completed site preparations for a 2,500-metre RC drilling programme focused on testing extensions within the 1.1-kilometre Hasties mineralised corridor. Drilling is scheduled to continue through the end of 2026, aiming to validate and expand the mineral resource base. This work is part of a broader farm-in and joint venture agreement with Greatland Resources (ASX:GGP), which provides access to over 200 square kilometres of tenements in the region.

West Arunta JV Deal Advances Rincon’s Strategic Focus

In a material corporate development, Rincon executed a binding Heads of Agreement to divest 90% of its West Arunta project to Maverick Minerals Australia. The deal includes upfront consideration of $600,000 and deferred payments of $500,000, structured partly in cash and partly as Maverick shares subject to shareholder approval. Rincon will retain a 10% participating interest, free carried until a mining decision is made, allowing the company to focus resources on its core Telfer South and Crackerbox projects.

The transaction remains subject to customary conditions precedent, with completion anticipated within two months. This JV arrangement aligns with Rincon’s strategy to crystallise value from non-core assets while advancing its primary exploration targets.

Crackerbox and Other Assets Await Next Steps

At the Crackerbox Gold Project in the Murchison Goldfield, Rincon finalised internal planning and data interpretation during the quarter, preparing for drilling at two priority targets pending access agreements. These targets include the Maitland South shear zone, which has historic intersections of alteration and sulphide mineralisation, and the Maitland Main target featuring pyrite-bearing Banded Iron Formation with historic workings.

The Monument project, divested earlier from the Laverton portfolio, saw no field activity this quarter.

Financial Position Supports Exploration Momentum

Rincon reported exploration expenditure of approximately $332,000 for the quarter, predominantly directed at Telfer South and Crackerbox. The company ended the period with a cash balance of $3.3 million, bolstered by recent capital raises and the pending West Arunta JV proceeds. Payments to related parties, mainly director remuneration, amounted to around $105,000.

With over six quarters of funding estimated at current burn rates, Rincon appears well-positioned to sustain its exploration programs and advance toward resource definition milestones.