Rincon Resources Ltd
- ASX Code: RCR
- Market Cap: $8,877,895
Rincon Resources Starts RC Drilling at Telfer South Gold-Copper Project
Rincon Resources (ASX: RCR) has commenced Reverse Circulation (RC) drilling at its 100% owned Telfer South Gold-Copper Project in Western Australia's Eastern Pilbara, with an initial programme of approximately 3,500 metres across the Hasties Zone and Frenchman's Prospect. According to the ASX announcement dated 24 August 2026, the project sits 10 km south of the Telfer Gold Mine, with the current campaign aimed at extending known mineralisation and testing additional gold-copper targets.
For investors, the importance of this update is straightforward. Rincon is moving from target generation and resource definition into active field execution. The company has stated that results from the campaign are expected to contribute to a revision of the current Mineral Resource Estimate (MRE) at Hasties, meaning upcoming assays could directly affect the scale of the project already defined on the books.
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Two Targets Are Now Being Drill Tested
The drilling programme outlined in the announcement is split between Rincon's main resource growth area and a secondary prospect with prior copper-gold intersections.
Hasties Zone: Focus on a 1.1 km Mineralised Corridor
The Hasties Zone is the priority target in the current update. It includes the Hasties Main and Hasties South-East gold-copper deposits, which Rincon said sit within a 1.1 km corridor of mineralisation.
An initial 20 drill holes are planned for Hasties, totalling around 2,000 metres. Furthermore, the company noted that additional holes may be added as work progresses, indicating scope for follow-up if geological observations support it.
At Hasties Main, drilling is intended to test extensions to the northwest and southeast. Target selection draws on a mix of 2025 drill results, historic rock chip samples, Newcrest's early 1990s geological mapping, and Rincon's 2024 Induced Polarisation (IP) geophysical survey.
At Hasties South-East, the company is targeting strike extensions in both the southeasterly and northwestern directions, including areas highlighted by historical rock chip work.
The Central Area within Hasties will see only limited drilling for now. Rincon noted that a Heritage Survey is nearing completion, which is expected to open access to more drill locations later this year.
Frenchman's Prospect: A Parallel Structure With Prior Mineralised Hits
The second target is Frenchman's Prospect, located approximately 700 m northwest of the Hasties Zone on a parallel prospective horizon. Rincon has planned 8 drill holes here for approximately 1,500 metres.
Importantly, the prospect is not being drilled from a standing start. Previous drilling returned both gold and copper intersections that support further follow-up work.
Key historical results cited in the announcement are summarised below:
| Drillhole | Interval | Au Grade | Cu Grade | From |
|---|---|---|---|---|
| 21STRC032 | 5 m | 1.74 g/t Au | – | 118 m |
| 21STRC032 | 4 m | 0.91 g/t Au | 0.12% Cu | 107 m |
| 21STRC032 incl. | 1 m | 2.34 g/t Au | – | 107 m |
| HWR029 (historic) | 39 m | – | 0.2% Cu | 8 m |
| HWR029 incl. | 1 m | 0.58 g/t Au | 2.4% Cu | Within interval |
| HWR029 | 5 m | 1.12 g/t Au | 0.65% Cu | 85 m |
| HWR029 incl. | 3 m | 1.45 g/t Au | 1.1% Cu | Within interval |
These intercepts do not establish a resource. However, they do provide evidence that Frenchman's hosts mineralisation worth systematic follow-up. If current drilling confirms continuity or identifies additional zones, the prospect could become more material within the broader Telfer South picture.
"Reverse Circulation drilling has now commenced at our 100% owned Telfer South project, just 10 km south of the operating Telfer Gold Mine," said Michael Griffiths, Technical Director.
Griffiths added that the company's goal is to maintain an active drilling programme through to year end, grow the Hasties resource base, and evaluate Frenchman's along with other prospects such as Padion, located about 4 km north-east of the Hasties Zone.
Understanding RC Drilling and Why It Matters
For non-specialist investors, RC drilling is one of the most common exploration methods used to test mineral targets quickly and at relatively modest cost compared with deeper, more detailed core drilling.
In simple terms, an RC rig uses a rotating drill bit and compressed air to lift rock chips back to the surface through the drill rods. Those chips are collected in intervals, logged by geologists, and sent for laboratory analysis to determine whether they contain gold, copper, or other metals.
Why Does RC Drilling Matter in an ASX Exploration Update?
- It provides direct subsurface information rather than surface-only indications
- It can test several target areas efficiently within one field campaign
- It helps define extensions to known mineralisation
- It can support future resource updates if enough useful geological data is generated
At Telfer South, the method is being used to answer practical questions. Does the Hasties mineralisation continue beyond the current resource boundary? Can Frenchman's develop into another meaningful mineralised zone?
A Short Glossary for Investors
Some technical terms in the announcement are worth clarifying:
- Strike extension: The continuation of a mineralised body along its horizontal length
- g/t Au: Grams of gold per tonne of rock
- % Cu: Percentage of copper in the rock by weight
- IP survey: A geophysical method that helps identify rocks containing sulphide minerals, which can be associated with copper and gold systems
- MRE: Mineral Resource Estimate, a formal estimate of the amount and grade of mineralisation based on available data
- Indicated Resource: A resource category with a higher level of confidence than inferred material
- Inferred Resource: An early-stage resource category based on more limited drilling and geological data
The Existing Hasties Resource Already Gives the Project Substance
This drilling campaign is not occurring at a greenfields target with no existing inventory. Rincon referred to the Hasties Gold-Copper Mineral Resource Estimate, originally announced on 10 February 2025, and stated that the current exploration results are expected to form part of a future revision.
The resource, across different gold cut-off grades, is outlined below.
| Cut-off | Classification | Tonnes | Au Grade | Cu Grade | Contained Au | Contained Cu |
|---|---|---|---|---|---|---|
| 0.3 g/t Au | Indicated | 633,000 | 1.03 g/t | 0.28% | 21,100 oz | 1,733 t |
| 0.3 g/t Au | Inferred | 237,000 | 0.75 g/t | 0.23% | 5,700 oz | 553 t |
| 0.3 g/t Au Total | 870,000 | 0.96 g/t | 0.26% | 26,800 oz | 2,286 t | |
| 0.5 g/t Au | Indicated | 567,000 | 1.11 g/t | 0.28% | 20,100 oz | 1,557 t |
| 0.5 g/t Au | Inferred | 187,000 | 0.84 g/t | 0.24% | 5,000 oz | 459 t |
| 0.5 g/t Au Total | 754,000 | 1.04 g/t | 0.27% | 25,200 oz | 2,016 t | |
| 1.0 g/t Au | Indicated | 195,000 | 1.92 g/t | 0.27% | 12,000 oz | 515 t |
| 1.0 g/t Au | Inferred | 40,000 | 1.59 g/t | 0.35% | 2,000 oz | 139 t |
| 1.0 g/t Au Total | 235,000 | 1.86 g/t | 0.28% | 14,100 oz | 654 t |
For investors, the main point is that Hasties already has a defined resource base, and the current RC drilling is aimed at extending it. The 1.0 g/t Au cut-off case, averaging 1.86 g/t Au, also shows there is a higher-grade portion within the broader mineralised inventory.
That does not guarantee a larger MRE. However, according to the company, the current exploration data is expected to contribute to a revision, which makes the upcoming assays especially relevant.
What Investors Should Watch Next
The ASX update outlines a pipeline of near-term catalysts tied to the current campaign and nearby targets.
Near-Term Activity at Telfer South
| Milestone | Status | Timing Indicated in the Announcement |
|---|---|---|
| RC drilling at Hasties Zone | Underway | Current |
| RC drilling at Frenchman's Prospect | Planned within current campaign | Current |
| Heritage Survey completion | Nearing completion | Near-term |
| Additional drilling in Central Area | Potential, pending access | Later this year |
| Assay results | Pending | After drilling |
| MRE revision contribution | Expected by company | Subject to results and data availability |
| Padion target follow-up | Flagged by management | Potentially later this year |
A few points stand out from this pipeline.
First, Rincon said the total 3,500 m programme is expected to expand as work progresses. That means the listed metres may not represent the full scale of activity if targets respond well.
Second, the Heritage Survey matters because it affects access to other parts of the Hasties Zone and nearby areas. In practical terms, that may influence how much drilling can be completed later in 2026.
Third, management again highlighted Padion, a target around 4 km north-east of Hasties, with historical rock chip results of up to 10.9 g/t Au and 1.5% Cu. Padion is not described in the announcement as part of the current RC programme but remains part of the broader exploration pipeline.
The Broader Project Context Includes Greatland Tenements Exposure
Rincon also placed the drilling update within the context of its Farm-In and Joint Venture agreement with Greatland Resources (ASX: GGP, AIM: GGP). According to the announcement, the agreement covers 200.8 km² of Rincon-owned exploration tenements, as previously announced on 18 December 2025.
The company described the Telfer South-Hasties project area as comprising two exploration licences and two prospecting licences covering roughly 15 km², with several parallel structures across geology known to host gold and copper mineralisation.
This is relevant because it indicates that current drilling at Hasties is part of a wider exploration footprint rather than a single isolated occurrence. At the same time, investors should distinguish between the 100% owned Telfer South project referenced in the drilling update and the broader tenement arrangements covered by the Greatland farm-in.
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Why This Drilling Update Matters for ASX Gold and Copper Investors
For ASX resource investors, Rincon's update is important for four practical reasons:
- Drilling is active now, which means the project has moved into a results-driven phase
- Hasties already has a defined MRE, so drilling success could feed into a more substantial resource statement rather than merely proving first-pass prospectivity
- Frenchman's offers secondary discovery potential, supported by earlier copper-gold hits
- The project sits near the Telfer mining district, which supports the regional geological case, even though it does not guarantee exploration success
The announcement does not overstate what RC drilling will deliver, and that is an important distinction. Results still need to be generated, assays still need to be reported, and any MRE revision will depend on the quality and scale of the new data.
In addition, the campaign sets up a clear sequence of potential news flow over the remainder of 2026. For investors tracking the gold and copper exploration space, Rincon's Telfer South programme represents a well-structured near-term catalyst pipeline worth monitoring closely.
"Rincon has begun a 3,500 m RC drilling programme at Telfer South, centred on resource growth at Hasties and follow-up testing at Frenchman's Prospect. With an existing 26,800 oz gold and 2,286 t copper resource at the 0.3 g/t cut-off, plus management indicating the results are expected to contribute to an MRE revision, the next assay releases are likely to be the key indicators of whether Telfer South can grow in scale."
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