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.