Renegade Exploration reports high-grade copper at Cloncurry Project, Queensland

Renegade Exploration Limited (ASX: RNX) has announced new high-grade copper (Cu) rock chip results at its Cloncurry Project in Queensland, Australia, indicating a potential extension of copper mineralisation for up to 800 meters. This development suggests that the mineralisation could extend west from the Great Australia Mine, through the Taipan deposit-Paddock Lode mine, to the Company’s Mongoose prospect.

Renegade Chairman, Robert Kirtlan, expressed optimism regarding the new findings. Rock chip samples, including results of up to 20.7% Cu and 2.20g/t Au, demonstrate the Cloncurry Project’s enormous potential. The discovery of a large gossanous zone, stretching over 250 meters north-south and previously undrilled, has been particularly noteworthy.

Significant Copper Mineralisation Extension Discovered by Renegade Exploration at Cloncurry Project

New Discoveries at Cloncurry Project Enhance Mining Prospects

The newly identified ‘Mongoose West’ prospect, along with other mineralised gossanous zones further west, indicates a massive potential for a major mineralised trend. These discoveries come ahead of the announcement of a maiden resource for Mongoose, expected before the end of the year. Renegade is confident that this westward continuation of surface expression will bolster the development of this resource.

In addition to Mongoose, new mineralisation has been identified at Cloncurry Queen, around 800 meters south of Mongoose, which may be a separate structure. The area is abundant with mineralisation and has potential to become a significant source of both oxide and sulphide mineralisation for commercialisation.

Significant Drill Results and Future Plans

Renegade’s first program at Mongoose involved approximately 2,000 meters of reverse circulation (RC) drilling, producing high-grade sulphide copper intersections. These results included notable intersections like 10 meters at 5.4% Cu and 0.88g/t Au. A second program further tested surface oxide mineralisation and deeper sulphide zones to determine extensions and orientation of the recently discovered mineralised sulphide zones.

Mongoose is part of the Carpentaria Joint Venture (CJV) between Glencore plc and Renegade. In January 2023, Renegade reached an agreement with Glencore to excise the Mongoose Project and sole risk future expenditure, which will increase Renegade’s interest in EPM8588 with continued expenditure.