South Telfer

The South Telfer Project consists of six exploration licences and two prospecting licences covering approximately 540km2 and greater than 40km strike of prospective geology known to host significant gold and copper mineralisation. The project area has seen previous, yet limited exploration completed by Newcrest Mining (ASX: NCM) which identified significant outcropping gold and copper mineralisation at the Hasties Prospect and bedrock gold anomalism at Westin.

South Telfer Gold-Copper Project tenement location plan, Paterson Province WA

Hasties Prospect

Rincon completed its maiden Reverse Circulation (RC) drilling program in August 2021 at the Hasties Prospect with a total of 27 holes for 4,944m. The drilling program aimed to confirm historical drilling results completed by Newcrest, as well as first pass testing for extensions to the existing shallow copper-gold mineralisation at both Hasties Main and Hastie South-East (SE) Zones. The Hasties mineral system, comprising both zones, is associated with a significant anticline fold hinge zone currently known to extend over 1.4km in strike length.

Plan of the Hasties Prospect showing location of Phase 1 drillholes

Rincon is highly encouraged with the results from its maiden drill program at Hasties, which expanded the mineralised footprint and confirmed the presence of wide, shallow zones of copper-gold mineralisation, including significant high-grades zones up to 17.4g/t Au and 5.31% Cu.

At Hasties Main Zone, broad Cu-Au intervals of up to 94m (21STRC012) downhole width, including 62m @ 1.06 g/t from 4m in 21STRC018 and 22m @ 1.83 g/t from 8m in 21STCR019 were intercepted. Mineralisation occurs above the base of oxidation and hosted in highly weathered sulphidic-quartz vein arrays and breccia zones.

Hole ID From To Width Au (g/t) Cu (%)   From To Width Au (g/t) Cu (%)
Significant Mineralised Zones (≥ 10m width and ≥ 0.2g/t Au) Including Significant Intersections* (≥ 2m width and ≥ 1.0g/t Au or ≥ 0.85% Cu)
21STRC001 31 82 51 0.41 0.29   48 55 7 1.09 0.64
21STRC002 46 89 43 0.33 0.78   46 54 8   1.14
incl. 52 54 2   2.9
  59 80 21 0.37 1.08
incl. 60 64 4   2.49
  71 74 3 0.98 1.86
incl. 72 74 2 0.91 2.75
21STRC003 5 56 51 0.56 0.18   31 34 3 7.18  
incl. 31 32 1 17.4  
  46 49 3   1.29
21STRC010 0 48 48 0.69 0.05   7 11 4 1.37  
  33 45 12 1.13  
            66 74 8 1.06 0.51
          incl. 72 74 2 0.62 1.74
            84 86 2 0.31 1.76
21STRC011 0 42 42 1.17 0.26   0 12 12 2.53  
  13 16 3 0.33 1.11
  19 20 1 0.24 1.76
  31 35 4 1.35 0.48
  39 41 2 1.41  
            63 65 2   1.24
            95 100 5   0.99
          incl. 98 99 1   3.06
21STRC012 7 101 94 0.64 0.58   8 11 3 1.59  
  19 27 8 1.58  
  32 37 5 1.6  
  51 55 4 1.79  
  57 61 4 0.34 5.31
  87 95 8 0.71 2.64
21STRC013 124 156 32 0.6 0.43   128 136 8 1.18 0.58
  132 135 3 1.78 1.22
incl. 138 140 2 0.78 1.18
21STRC016 20 78 58 0.64 0.24   39 45 6 1.68  
  55 56 1 4.71  
  58 66 8 0.35 1.12
incl. 58 61 3 0.35 2.48
98 154 56 0.6 0.14   104 106 2 1.48  
  118 125 7 1.04 0.39
  138 142 4 1.6  
21STRC017 133 176 43 0.38 0.35   148 165 17 0.37 0.83
incl. 148 153 5 0.52 1.75
21STRC018 4 66 62 1.06 0.32   6 13 7 1.44  
  21 30 9 2.94  
incl. 25 30 5 4.23  
  34 38 4 1.49  
  42 46 4 1.56  
  47 55 8 0.37 1.2
  57 60 3 0.67 1.49
21STRC019 8 30 22 1.83 0.02   9 16 7 1.49  
incl. 10 12 2 2.86  
  19 30 11 2.6  
incl. 20 26 6 3.85  
21STRC022 1 61 60 0.72 0.04   6 10 4 1.85  
  20 33 13 1.24  
incl. 20 23 3 2.47  
  44 46 2 2.66  
            66 71 5   1.01
124 142 18 0.53 0.02   124 128 4 1.4  
21STRC025 142 154 12 0.65 0.39   148 152 4 0.97 1.06

Geological interpretation indicates steep dipping mineralised structures are controlling gold mineralisation whilst copper mineralisation appears to be primarily controlled by fold structures within a preferred rock type. The overall mineral system has been broadly defined over a combined strike up to ~700m long, over 100m depth starting from surface, and widths up to 50m near surface. Importantly, mineralisation remains open in all directions.

Schematic section E – E’ showing 21STRC012, 21STRC016-017 & 21STRC025-026

The Company commenced a Phase 2 drilling program at the Hasties Prospect in December 2021.  The program comprises up to 5,000m of combined RC and Diamond (DD) drilling and includes granted EIS co-funding for one DD hole to test the Hasties Deep Target.

The Hasties Deeps Target is an interpreted intrusive folded dolerite sill at about 300m depth, forming the core of an anticline bounded by a major north-west trending shear along the eastern limb zone. The Company is targeting Telfer Dome (quartz-dolomite-sulphide reef and breccia/stockwork) and Havieron (sulphide and breccia) style Cu-Au mineralisation, potentially associated with the contact zone between the dolerite sill and overlying sediments, particularly the anticline axis zone which may be a trap for upward migrating gold bearing fluids, analogous to Telfer, providing significant additional exploration potential for Hasties.

The Phase 2 program has seen seven RC holes completed to-date with two areas tested, a 300m extension zone along strike to the northwest of the Hasties Main Zone and a new target at Frenchman’s. The Phase 2 drilling program is expected to be complete during Q1 CY2022.

3D Schematic view showing Hastie Prospect with copper-gold grade shells and “Hasties Deeps” Target at depth
Plan of the Hasties Prospect showing location of Phase 2 drillholes

Other Targets

Twenty-one VTEM targets have been identified and ranked according to various characteristics. Of these twenty-one targets:

  • Nineteen, including five high-priority drill targets, are associated with the highly prospective Hasties–Grace shear hosted gold-copper trend; a known mineralised corridor trending northwest and south-east which passes through all Rincon’s tenement areas.
  • An additional two VTEM targets, both high-priority drill targets, are located proximal to the Westin Prospect, along the Dolphy–Westin Trend.

The plans to commence air core drilling testing of VTEM targets along the Hasties-Grace Trend in 2022.

South Telfer Project showing location of VTEM and resistivity targets and high-priority drill targets
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