Rincon (ASX:RCR) validates IOCG allure of West Arunta

Rincon Resources’ second diamond hole into the Pokali prospect has returned a showing of visible gold and other minerals which confirm suspicions it could play host to a large iron oxide-copper-gold deposit at its West Arunta project in the namesake province of West Australia.

The deep drill hole intersected multiple zones of moderate to intense magnetite alteration with the quartz and sulphide veining holding copper sulphide and chalcopyrite, bornite, chalcocite, native copper, and the gold.

A first diamond hole which intersected multiple zones of sulphide mineralisation with indicative values up to 7.21 per cent copper initially pointed towards the potential for multiple copper enriched lodes.

And the second has confirmed a model for Rincon to work with and put weight behind an IOCG exploration strategy to go in tune with noted potential for niobium and rare earths.

Rincon Managing Director Gary Harvey said the core confirmed a long-standing belief in highly anomalous elements being related to a large IOCG mineral system and provided a major leap forward in its understanding.

“The preliminary observations from the diamond core also explains strong IP chargeability, gravity and magnetic anomalism at Pokali,” Harvey said.

“This second deep diamond hole was aimed at testing geophysical anomalism and the geological host rocks and mineral potential in the main Pokali gravity and magnetic anomaly trend.

“For me to witness core recovered at site containing copper related veining was special. Visual inspection of the drill core confirm that Pokali has potential to host a significant IOCG deposit,” he said.

Harvey added Rincon was now getting the core sent to Perth for detailed analysis and assaying while it progresses the prospect with induced polarisation surveying and more reverse cycle drilling.

Those should be done within a fortnight while assays from the diamond drill are expected to begin arriving late this month as Rincon work on clearing new carbonatite rare earth and niobium targets for imminent drill testing.

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