Renegade Exploration says assays from recent drilling at Greater Mongoose have returned excellent gold mineralisation and confirmed the broad copper mineralisation at the site.

A reverse circulation (RC) drilling program was completed across six holes totalling about 1300m at the Cloncurry district project in October, targeting a number of shallow prospects identified by previous drilling and new magnetic data.

Assay results included:

• RMG035- 107m at 0.51 per cent copper and 0.09g/t gold (from 55m) including; 5m at 2.09 per cent copper and 0.3g/t gold (from 60m), 7m at 1.13 per cent copper and 0.15g/t gold (from 116m)
• RMG036 – 89m at 0.45 per cent copper and 0.08g/t gold (from 16m) including; 11m at 1.01 per cent copper and 0.19g/t gold (from 39m), 13m at 0.62 per cent copper and 0.12g/t gold (from 89m).
• Individual high-grade results from those two holes included 0.62g/t gold and 1.25 per cent copper (RMG036 40-41m), 0.57g/t gold and 2.14 per cent copper (RMG035 64-65m), and 0.40g/t gold 1.99 per cent copper (RMG036 43-44m).

“Renegade has now completed 40 holes for over 6,500m of drilling at Mongoose to date,” Renegade chairman Robert Kirtlan said.

“We are delighted that the assay results are in line with the expectations set by the portable XRF device.

“Where we become excited is the general tenor of the gold mineralisation, with high-grade gold being associated with high-grade copper.”

Related: Renegade boasts best Mongoose intervals to date

He said the company was finalising two Queensland Government CEI round 9 funding grant applications.

“The CEI grant programs are a tremendous initiative by the Queensland Government that enables junior explorers to explore high-risk high-reward targets,” Mr Kirtlan said.

Renegade’s Greater Mongoose prospect at its Cloncurry Copper Project is a substantial mineralised area located along strike from the neighbouring Great Australia Mine.

It is part of the Carpentaria Joint Venture (CJV) between Glencore and Renegade, whose stake is currently about 35 per cent.

Renegade reached an agreement with Glencore last year to excise the Mongoose Project (EPM8588) and sole risk future expenditure. Renegade’s interest in EPM8588 will increase with expenditure.

The Mongoose inferred resource currently stands at 3.1Mt at 0.55 per cent copper and 0.07g/t gold for 17.0Kt copper and 7.3koz gold (0.25 per cent copper cut off).

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