Renegade’s 3D modelling has generated a bevy of exciting targets. Pic: Getty Images
Renegade primes shallow drilling at Greater Mongoose after generating more targets
Mining
share
- Renegade Exploration’s 3D modelling generates more IOCG targets at Greater Mongoose
- High priority Mongoose Deeps target found to reside primarily within wholly-owned EPM28972
- Company’s upcoming drilling will initially focus on shallow targets 100-500m from surface – beginning in the next few days.
Special Report: 3D modelling of airborne magnetic surveys over the Greater Mongoose prospect within Renegade Exploration’s Cloncurry project in Queensland has generated a number of exciting targets.
This comes after the modelling indicated the high priority Mongoose Deeps target lies primarily within its wholly owned tenement EPM28972 and starts 400-500m closer to surface. It is also proximal to the new modelled gravity anomaly.
Greater Mongoose is a substantial mineralised area covering up to 1km2 with high-grade copper-gold outcrops and drill intercepts located along strike from the neighbouring Great Australia Mine.
Previous reverse circulation drilling and field work had confirmed the presence of significant copper-gold mineralisation ranging from surface down to 200m.
Renegade Exploration’s (ASX:RNX) modelling also generated a second magnetic anomaly north of Mongoose that starts from a depth of 300-500m.
Closer to surface brecciated zones discovered in the recent deep diamond hole also validates the new 3D modelling work.
“The new 3D model has not only helped the siting of the RC holes for the imminent drilling program, but has also provided new targets for deeper diamond drilling in the future,” chairman Robert Kirtlan said.
“Targeting mineralised zones in IOCG systems is notoriously difficult. The Renegade team and its advisors are very encouraged with the updated magnetic model and how it relates to the geology and mineralisation observed at Mongoose.
“The model has generated both shallow and new deeper targets which have been validated by the recent deep diamond drill hole which encountered a substantial brecciated and mineralised zone from around 300m.
“Our team is generating quality data and now we just need that little bit of luck to encounter commercial mineralised zones to add to the current Mongoose deposit.”
Mongoose Deeps
Samples taken from the Mongoose Deeps hole RMD001, which intersected an Ernest Henry style IOCG breccia zone, were sent for magnetic remanence analysis at Curtin University.
When the magnetic remanence (residual magnetism) was incorporated into the model, the original Mongoose Deeps anomaly shifted significantly to the north and was raised closer to the surface.
And it is far from the only target.
While Mongoose Deeps is – rightly – the highest priority target due to it being a magnetite-rich breccia pipe similar in size, shape, and magnitude to the nearby world-class Ernest Henry copper mine, it is far from being the only target.
Drilling by the company across Greater Mongoose has also produced a number of significant intersections, allowing it to define an inferred resource of 3.1Mt at 0.55% copper and 0.07g/t gold.
The road ahead
RNX’s upcoming drilling, now slated to begin within the next few days, will initially focus on shallow targets 100-500m from surface.
It will also apply for the upcoming 2025 round 9 CEI grants run by the Queensland Government to assist with funding future deeper testing.
This article was developed in collaboration with Renegade Exploration, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
