Exploration and project development activity continues across Australia’s resources sector, with Rincon Resources, Terrain Minerals and ABx Group progressing gold, rare earths and critical minerals initiatives through portfolio optimisation, exploration success and technology development.
Rincon reshapes portfolio with West Arunta deal
Rincon Resources has signed a binding heads of agreement with Maverick Minerals Australia to divest a 90 per cent interest in its West Arunta project, allowing the company to focus exploration on its Telfer South gold-copper project and Crackerbox project.
Under the agreement, Rincon will retain a 10 per cent interest in the project through a joint venture and will be free-carried until a decision to mine. The transaction includes $600,000 in upfront consideration, comprising $100,000 in cash and $500,000 in Maverick shares, along with a further $500,000 in deferred consideration linked to the completion of two drilling programs.
The agreement also includes provisions allowing Rincon to regain a majority interest should agreed exploration milestones not be met within specified timeframes.
Technical director Michael Griffiths said the transaction provides immediate value while maintaining exposure to future exploration success.
“This transaction represents an attractive outcome for the Company, securing cash and equity consideration while retaining a 10% free-carried interest in the West Arunta Project,” Griffiths said.
Rincon said the divestment follows the sale of its Laverton project and strengthens its focus on its core exploration assets.
Terrain uncovers broad rare earths system
Terrain Minerals has confirmed a broad clay-hosted rare earth system at its Lort River project in Western Australia, with aircore drilling returning widespread mineralisation and high-grade heavy rare earth intersections.
Assays from 35 aircore holes identified total rare earth oxide (TREO) values exceeding 200ppm in 25 holes, with standout results including 8m at 3349ppm TREO from 27m in hole LTAC028, including 6m at 4230ppm TREO and a peak 3m interval grading 5568ppm TREO. The company said the mineralisation contains a strong heavy rare earth component, including dysprosium and terbium, while remaining open at depth in multiple holes.
Terrain has submitted single-metre samples from priority holes for further analysis and plans to follow up with reverse circulation drilling to support resource definition.
Executive director Justin Virgin said the results mark an important step for the project.
“This program does two things for Lort River. First, it confirms the presence of a genuinely broad system, with rare earths in 25 of 35 holes, and secondly it has found a high-grade interval in LTAC028 that we intend to chase,” Virgin said.
ABx Group has outlined indicative operating costs for its proprietary ALCORE process, which aims to produce hydrogen fluoride from aluminium smelter bath and establish an alternative fluorine supply chain in Australia.
The company said the process offers a potential alternative to conventional hydrogen fluoride production from imported fluorspar, a raw material facing tightening global supply and rising prices. ABx believes the technology could improve domestic supply security while delivering attractive operating economics and supporting the development of a local fluorochemical industry.
Managing director and chief executive officer Dr Mark Cooksey said the assessment highlighted the strategic value of the process.
“This economic assessment indicates the ALCORE process has the potential to underpin an alternative strategic fluorine supply chain in Australia,” Cooksey said.
BFluor Chemicals director Chris Potgieter said the technology could produce hydrogen fluoride at a competitive cost while providing a platform for broader fluorochemical manufacturing in Australia, including import replacement opportunities such as aluminium fluoride for the aluminium industry.
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