Rincon Resources Limited (ASX:RCR) has been successful in its application for a grant of a maximum of A$150,000 towards diamond drilling costs at Kiwirrkurra, under Round 24 of the Western Australian Government Exploration Incentive Scheme (EIS Grant).
The EIS Grant will co-fund the diamond drill testing of two high-priority IOCG-style targets at the Pokali Prospect at Kiwirrkurra.
The company has executed a Mineral Exploration and Land Access Deed of Agreement (DOA) with the Tjamu Tjamu (Aboriginal Corporation) Registered Native Title Body Corporate at its Kiwirrkurra Project, located in the West Arunta Region of Western Australia, 600km west of Alice Springs.
This is an integral step for the company as it looks to commence its maiden 3,000m RC and diamond drilling programme at the Pokali Prospect.
With the DOA now finalised the company now awaits a Ministerial Entry Permit and the completion of Heritage surveys prior to the commencement of the planned program.
High-Priority Drill Targets at Pokali
The Pokali Prospect is an underexplored, IOCG-style target, which outcrops and is mineralised from surface. Wide spaced historical drilling at Pokali is relatively shallow in context to the potential size of the copper mineral system. This is based upon broad copper mineralised zones in previous drilling, surface geochemical anomalism, strong magnetic, gravity geophysical signatures.
Several previous drillholes reported elevated copper mineralisation (+1.0% Cu grades) at end-of- hole with mineralisation remaining open at depth and requiring follow-up. Minimal exploration activity has been conducted at Pokali since 2012.
Re-modelling of the historical IP data at Pokali showed several apparent coincident resistivity and chargeability anomalies, which have not been properly tested by historical drilling.
Thirteen priority targets have been identified within the project area, including two high-priority IOCG-style drill targets at the Pokali Prospect.
The company has planned a maiden 3,000m RC and diamond drilling program to test the two high- priority IOCG-style targets at Pokali and subject to all necessary statutory approvals, and heritage survey clearance, drilling at Pokali is scheduled to commence 2nd Quarter 2022.
Drilling aims to resolve untested semi-coincident gravity and magnetic anomalies at depth which are interpreted to be concealed copper-gold IOCG mineralised systems within the large Pokali system.
For further information please visit: https://www.rinconresources.com.au/
