Man with magnifying glass
Adobe Stock
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

Rincon Resources (ASX:RCR) has announced its possible discovery of niobium and rare earth element (REE) mineralisation at its Avalon and Sheoak targets.

Both niobium and REE mineralisation was detected by a hand-held pXRF machine “associated with syenite intrusions” at both areas of interest. “Some elevated REE elements were detected,” the company wrote on Monday.

Full fledged assays are on the way with samples from recent drilling either in Perth or en route to assay labs. A batch of samples pulled from an RC drill run are at the capital while diamond drill hole samples are in tow.

The company also reported on Monday recent drilling at both targets “confirmed that gravity anomalies … appear to be caused by … dense mafic to ultramafic volcanic host rocks.”

All in all, geotechs are hopeful the company has just found indication of a carbonatite-hosted REE system on-site. Further data will be needed to confirm that one way or the other.

“A hand-held pXRF unit was used in the field to assist in determining geology and to detect Nb and REEs and has revealed the presence of a potentially large alkaline intrusive complex of syenite intrusions and related alteration,” Rincon MD Gary Harvey said.

“We are aware that syenites and carbonatites coexist in calc-alkaline intrusive complexes that host significant Nb-REE deposits globally.

“This is very encouraging, and our challenge now is to determine if this coexistence occurs within Rincon’s West Arunta Project area.”

RCR last traded at 3.9cps.

RCR by the numbers
More From The Market Online
Tariff concept

Week 14 Wrap: Tariffs tank markets as expected; will Rio Tinto ditch LSE?; EU ETFs soar

Let's start with the obvious one: Trump's wave of "Liberation Day" tariffs have finally come, and…
The Market Online Video

HotCopper Highlights for Week 14 – Mesoblast, Cettire, Neurizon & more!

Good Afternoon and welcome to this edition of HotCopper Highlights, I’m Jonathon Davidson. Let's get into…
Flag of Spain

Elementos publishes robust DFS for Oropesa tin project

Elementos Ltd has seen its shares rise more than 2% following its release of a definitive…
The Market Online Video

Friday’s HotCopper Trends: Mesoblast dodges tariffs, Orthocell’s FDA tick | April 4, 2025

The ASX has been down 1.5% at 7,739 points this morning.