Renegade Exploration’s (ASX:RNX) recent reverse circulation (RC) drilling programme has returned the best drilling intercepts to date at the Greater Mongoose mineralised zone, part of the Cloncurry Project in Queensland.
Drilling tested new anomalies throughout the zone identified by recent diamond drilling and geophysical surveys including the Mongoose Deposit, Tank, Magazine, Mongoose Deeps, and Mongoose West.
“To intercept significant copper mineralisation in every single drill hole is a remarkable achievement. These results are the best that Renegade have drilled at Mongoose to date, this is particularly significant as we have completed 40 holes for over 6,500m of drilling. The highly mineralised holes reported above have opened up a new area of mineralisation and will add size to the Mongoose Deposit,” Chairman, Robert Kirtlan, said.
“Each and every hole we drill in the Greater Mongoose Area adds to our understanding of the very large IOCG system which we believe has remarkable similarities to the Ernest Henry Cu-Au deposit. We are currently interpreting the new data generated from the drilling and will plan our next programmes around this.”
“The deeper 500m RC hole went well with no major technical issues with either the drill rig or water. This indicates that we may be able to go even deeper with the relatively cheaper RC drilling, perhaps beyond 600m. We have seen more of the Ernest Henry style alteration and brecciation1 which gives serious encouragement to continue looking for something bigger within the Greater Mongoose Area”.
“The QLD Government CEI funding amount of $330,000 has been received and together with current cash and the small loan facility in place, Renegade is well placed financially to continue work on the current Greater Mongoose programmes.”
