Rincon

Rincon Resources (ASX:RCR) has received preliminary rock-chip sampling results from recent site reconnaissance at the Pokali, Kiwirrkurra IOCG project.

Rincon says results continue to demonstrate significant potential of the IOCG system at Pokali including 5.75g/t Au, 5.71% Cu and 5.25g/t Ag at Pokali East, and 2.87g/t Au, 1.2% Cu and 5.07g/t Ag at Pokali South.

It also says an independent review is underway of a comprehensive multi-element suite, including Niobium and rare earth elements.

Following the announcement, shares of Rincon Resources (ASX:RCR) were up 12%.

Rincon Resources (ASX:RCR) has entered into an agreement to acquire 100% interest in six new granted exploration tenements in the Laverton Gold Project, Laverton District, WA.

This acquisition will expand the project footprint from 49km2 to 81km2, increasing the potential for new gold discoveries in the area.

The acquisition includes a cash consideration of $25,000 to Mr Peter Gianni and $125,000 worth of Rincon shares to Mining Equities Pty Ltd, as well as a 1.0% Net Smelter Return Royalty in favour of Mining Equities Pty Ltd.

Rincon will commence an in-depth review and interpretation of all publicly available datasets ahead of prioritising targets for future drill programs.

Following the announcement, shares of Rincon Resources (ASX:RCR) were unchanged at $0.095.

Rincon Resources (ASX:RCR) has applied for six new tenements in the Laverton-Mt Weld area of Western Australia, with the goal of expanding the Laverton project footprint and the company's presence in the Laverton district.

Rincon Resources says the tenements are located within 15km of Mt Weld, which is one of the world's biggest producers of neodymium and praseodymium.

The new tenements are seen as prospective for Carbonatite related rare earth element (REE) mineralisation, as it follows the discoveries of two carbonatite-hosted niobium-REE deposits in the West Arunta Region of WA by WA1 Resources (ASX:WA1).

Rincon Resources says it intends to carry out a comprehensive multi-element geochemical sampling program once the tenements are granted.