Renegade Exploration has completed a high-definition drone magnetics survey over 130 line kilometres across the greater Mongoose area at its Cloncurry project in North-West Queensland.

Chairman Robert Kirtlan said the survey was designed to find new targets associated with the Ernest Henry-style IOCG (iron oxide copper-gold) system discovered by the recent Mongoose Deeps diamond drill hole.

It covered two new potential shallow targets, Magazine and Tank prospects, identified from previous magnetics and gravity data.

Related: Mongoose Deeps probe yields Ernest Henry-style discovery

“The part CEI-funded Mongoose Deeps diamond drill hole which discovered the presence of an IOCG- style magnetic breccia zone is the driver for this latest work, which is a precursor to drilling sometime in late September,” Mr Kirtlan said.

“The drone survey is done at 30m height, which provides intense magnetic data to better understand the IOCG system we are working with.

“We do see substantial surface mineralisation as evidenced by the maiden inferred mineral resource estimate at Mongoose we defined late last year.

“However, the bigger prize may be found deeper, so the use of geophysics is the best tool to define a larger feeder system for what we see at surface.”

Renegade Exploration has established a copper-gold resource for the Mongoose prospect of 3.1 Mt grading at 0.55 per cent copper and 0.07 g/t gold.

Mongoose lies on a 2km-long deposit trend which includes the Great Australia Mine, the Orphan Shear mine, the Paddock Lode mine, and the Taipan deposit.

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