Business
Operational Update for Rincon Resources
Operational Update for Rincon Resources.
About this update from Gunsynd Plc
[{"type":"text","content":"\n \n \n \n Gunsynd plc\n \n \n \n \n \n \n \n \n (\"Gunsynd\" or the \"Company\")\n \n \n \n \n \n \n Operational Update for Rincon Resources Limited\n \n \n \n \n \n \n \n \n \n \n \n Gunsynd Plc (AIM: GUN, AQSE: GUN)\n is pleased to announce a positive operational update\n for one of its investee companies, Rincon Resources Limited (\"Rincon\") (ASX: RCR), an ASX listed Australian gold and base metals exploration company.\n \n \n \n \n \n The Board of Gunsynd was very pleased to see that Rincon\n received a preliminary high-level report from independent consultant Resource Potentials highlighting the similarities between Rincon's Pokali Prospect and an exciting new Niobium Rare Earth (REE) discovery by WA1 Resources Limited (ASX: WA1) located about 87km NW of Pokali. The Pokali target is located within Rincon's 100% owned Kiwirrkurra IOCG Project, located in the West Arunta Region of Western Australia.\n \n \n \n \n \n As well as being used in the steel industry predominantly as a micro alloy with iron, Niobium (Nb)\n , along with other refractory elements such as tantalum, is also used in nickel and nickel iron superalloys, particularly for applications requiring strength and heat resistance. Uses for such superalloys include turbine blades in jet engines within the aeronautic industry, and gas turbines in the energy industry. Australia's niobium resource is confined to a small number of deposits, largely as a by-product or co-product of rare earth element (REE) or rare earth element-zirconium mineralisation in peralkaline rocks and carbonatites. Examples of these include the Mount Weld carbonatite and the Brockman deposits in Western Australia.\n \n \n \n \n \n Rincon has reported that historical drilling and surface geochemical datasets over Pokali were interrogated however most historical activity and geological analysis was focused on IOCG-style copper mineralisation and REE assaying was limited. Therefore, Rincon will be implementing programmes to obtain new multi-element and REE data for analysis to further understand the REE potential of its Kiwirrkurra Project. Rincon has recently received a Consent to Mine endorsement and Ministerial Entry Permit for its granted tenements at the Kiwirrkurra Project, permitting on-ground exploration activities to commence. A site reconnaissan...