Rincon Resources Limited (ASX: RCR) reported its Q3 2024 exploration update. At the West Arunta Project, reverse circulation (RC) drilling at Avalon confirmed shallow supergene REE mineralization, averaging 1,100–2,440 ppm TREO, though the absence of carbonatite downgraded the target. Sheoak and K2 yielded significant TREO intercepts, including 2 meters @ 6,164 ppm TREO and 8 meters @ 1,397 ppm TREO, indicating potential syenitic intrusive association.
At Pokali East, infill drilling validated the IOCG copper model with highlights such as 212 meters @ 0.23% Cu and 4 meters @ 3.87% Cu. The company also identified a copper corridor for further exploration. Meanwhile, soil sampling began at the Laverton gold project, with results expected in November 2024. Rincon secured a AU$129,313 WA Government refund and signed a new land access agreement. Following the resignation of its Managing Director, Rincon ended the quarter with a cash balance of AU$4.01 million.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
