How Rincon and Greatland’s JV Could Transform Telfer South’s Gold-Copper Future

Strategic Partnership in the Paterson Province

Rincon Resources (ASX, RCR) has formalised a significant farm-in and joint venture agreement with Greatland Resources (ASX, GGP, AIM, GGP) over a substantial portion of its Telfer South tenements. This multi-stage, multi-year deal grants Greatland the right to earn up to a 75% interest by funding exploration and development expenditures, marking a pivotal step in unlocking the potential of this highly prospective gold-copper region in Western Australia.

The agreement covers approximately 200.8 square kilometres of Rincon’s tenement package, strategically located just south of Greatland’s world-class Telfer gold-copper mine. Rincon retains full ownership of the Hasties Main and Hasties SE deposits, situated only 10 kilometres from the Telfer mine, where it plans to intensify exploration efforts and update its mineral resource estimates in 2026.

Unlocking Value Through Expertise and Infrastructure

Greatland’s Managing Director Shaun Day highlighted the strategic advantage of the partnership, noting the proximity of the JV ground to Greatland’s existing South-East Hub project and the Telfer mill, one of Australia’s largest and most cost-effective processing facilities. The ability to toll process ore mined under the joint venture at the Telfer infrastructure presents a significant operational and economic benefit for both parties.

Rincon Chairman David Lenigas emphasised the value of Greatland’s local expertise and operational capabilities, which are expected to accelerate drilling and discovery activities far beyond what Rincon could achieve independently. This collaboration allows Rincon to focus its resources on advancing the Hasties deposits while benefiting from Greatland’s momentum on the broader exploration ground.

Structured Farm-In Stages and Future Prospects

The farm-in agreement is structured in four stages, beginning with an initial $300,000 exploration commitment by Greatland within the first year. Subsequent stages require Greatland to spend $2 million to earn a 51% interest, an additional $2 million to increase to 70%, and sole funding to a decision to mine to reach 75%. Rincon will contribute pro rata or dilute, with a dilution threshold converting its interest to a 1% net smelter royalty if it falls below 10%.

This phased approach balances risk and reward, providing clear milestones for exploration progress while preserving Rincon’s exposure to upside potential. The joint venture’s success hinges on forthcoming drilling results and the ability to delineate economically viable mineral resources.

Looking Ahead

As Rincon and Greatland embark on this partnership, the Telfer South project stands poised for renewed exploration vigor in one of Australia’s most promising mineral provinces. The collaboration not only leverages complementary strengths but also positions both companies to capitalize on the region’s rich gold and copper endowment.