Greatland Eyes 75% Stake in Rincon’s Telfer South via $4 Million Farm-In

A Strategic Alliance in the Paterson Province

Rincon Resources has taken a significant step forward in its exploration ambitions by signing a multi-year farm-in and joint venture agreement with Greatland Resources on a substantial portion of its Telfer South tenements. This partnership leverages Greatland’s ownership and operational expertise of the nearby world-class Telfer gold-copper mine, positioning both companies to accelerate exploration and potential development in one of Western Australia’s most prospective mineral provinces.

Terms That Align Interests and Ambitions

Under the agreement, Greatland can earn an initial 51% interest by committing $2 million in exploration expenditure within three years. A further $2 million spend can increase their stake to 70%, with the option to sole fund to a decision to mine and reach a 75% interest. Rincon will maintain a 49% interest after the initial earn-in and will either contribute pro rata or dilute, with a fallback 1% net smelter royalty if diluted below 10%. Crucially, if mining proceeds and Rincon retains a joint venture interest, ore from the JV will be toll processed at Greatland’s Telfer mill, offering a cost-effective route to production.

Rincon’s Focus on Hasties Deposits

While the joint venture covers approximately 200 square kilometres of Rincon’s tenement package, Rincon retains full ownership of the Hasties Main and Hasties South-East gold/copper deposits located just 10 kilometres south of the Telfer mine. Rincon plans to intensify drilling programs at Hasties throughout 2026, aiming to significantly expand its mineral resource estimate. This dual approach allows Rincon to benefit from Greatland’s regional expertise and infrastructure while advancing its own high-potential assets.

Leveraging Infrastructure and Expertise

Greatland’s Managing Director Shaun Day highlighted the strategic advantage of proximity to the Telfer mill, one of Australia’s largest and most efficient processing facilities. The ability to toll process ore from the joint venture area could materially reduce capital expenditure and accelerate project timelines. Both parties see the Paterson Province as underexplored yet highly prospective, with the JV ground extending the strike of known mineralisation southwards from Greatland’s South-East Hub project.

Looking Ahead

This joint venture marks a pivotal moment for Rincon, providing access to capital, expertise, and infrastructure that could unlock value across its Telfer South holdings. With exploration programs set to ramp up and mineral resource updates on the horizon, the partnership is poised to reshape the development landscape in this prolific gold-copper region.