Renegade Exploration will start a reverse circulation drilling program of up to 2000m next week at its Greater Mongoose prospect near Cloncurry.

The program will test new copper targets generated from a drone magnetic survey and the recent Mongoose Deeps diamond hole, partly funded by $300,000 backing under the Queensland Government’s Collaborative Exploration Initiative (CEI).

Related: Rock chips return high-grade copper, gold for Renegade

This discovered the presence of an Ernest Henry-style IOCG-style magnetic breccia, Renegade chairman, Robert Kirtlan said.

“We’ve reconciled our diamond drill results against new intense magnetic data provided by our recent drone survey to improve our understanding of this promising IOCG system, and pinpoint locations for our next round of drilling, due to begin next week,” Mr Kirtlan said.

“Aside from the Deeps target which is located beneath the Mongoose copper deposit, our new Magazine and Tank prospects headline a number of potentially shallow targets which we’re very much looking forward to drilling.

“Our updated working model has mineralisation closer to surface so we are using a powerful reverse circulation rig which will get to at least 500m and is cheaper and faster than our previous diamond hole.”

Drilling at Mongoose in 2023 allowed Renegade to complete a maiden inferred mineral resource estimate.

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

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