Overview
Renegade’s flagship Cloncurry Project is made up of exploration tenements EPM28972 (RNX 100%), and EPM8588 (RNX 35.34% | Glencore plc 64.66%) which has Renegade increasing its interest with further expenditure.
In January 2023, Renegade reached an agreement with Carpentaria Joint Venture (CJV) partner Glencore plc via its subsidiary Mount Isa Mines to become sole operator and funder of EPM8588.
The project is located near the established mining town of Cloncurry in north-west Queensland and hosts a number of advanced copper prospects including Mongoose Deeps, Mongoose West, Tank, Magazine and Mt Glorious.
Cloncurry Project Map
Mongoose Deposit
Mongoose is a primary target with significant historical copper-gold intercepts and is along strike from the neighbouring Great Australia Mine and Taipan Deposit. Renegade has now completed 40 holes for over 6,500m of drilling at Mongoose to date to determine the potential for near term mining with the initial target being near surface copper oxides and shallow sulphide zones.
Inferred JORC resource
3.1Mt @ 0.55% Cu and 0.07g/t Au for
17.0Kt of Cu and 7.3Koz of Au @ 0.25% Cu cut-off
Greater Mongoose Mineralised Precinct
Renegade’s Greater Mongoose mineralised precinct covers up to 1 square kilometre with high grade copper-gold outcrops and drill intercepts located along strike from the neighbouring Great Australia Mine.
In November and December 2024, Renegade announced drilling at the Mongoose Mineralised Zone had delivered the best copper intervals to date together with strong gold mineralisation.
Drilling was completed across six holes totalling approximately 1,300m in October and targeted a number of shallow prospects throughout the zone including Mongoose Deposit, Tank, Magazine, Mongoose Deeps, and Mongoose West, which were identified by previous diamond drilling and geophysical surveys.
RMG035 assay results:
- 107m @ 0.51% Cu & 0.09g/t Au (from 55m) including:
- 5m @ 2.09% Cu & 0.3g/t Au (from 60m)
- 7m @ 1.13% Cu & 0.15g/t Au (from 116m)
RMG036 assay results:
- 89m @ 0.45% Cu & 0.08g/t Au (from 16m) including:
- 11m @ 1.01% Cu & 0.19g/t Au (from 39m)
- 13m @ 0.62% Cu & 0.12g/t Au (from 89m)
Individual high grade gold copper results:
- 0.62g/t Au & 1.25% Cu (RMG036 40-41m)
- 0.57g/t Au & 2.14% Cu (RMG035 64-65m)
- 0.40g/t Au & 1.99% Cu (RMG036 43-44m)
Cross section looking west, showing the new holes RMG035 and RMG036 at Mongoose.
The Greater Mongoose mineralised zone at the Cloncurry Project consists of a number of high priority targets led by the Mongoose Deeps magnetic anomaly which lies beneath the Mongoose copper deposit. The anomaly is a magnetite-rich breccia pipe which is similar in size, shape, and magnitude as the nearby world-class Ernest Henry copper mine.
The recent drilling was targeting close to surface magnetic anomalies and potential de-magnetised zones in and around the Greater Mongoose area. The drilling at Tank returned a large section of very high magnetite that shows evidence of brecciation.
This is the second magnetite rich breccia zone encountered by Renegade in the area. The magnetite rich zone contains broad pyrite alteration and towards the base of the unit returned broad chalcopyrite mineralised zones. Additional magnetite altered zones were also encountered at Mongoose West along with zones of copper sulphides. A deep RC hole was also completed to test the possible westward extension of the mineralisation down towards a deep gravity anomaly. The hole was extended down to 500m and encountered several zones of copper mineralisation and highly red rock-magnetite altered dolerites. This alteration provides additional evidence of a very large hydrothermal system existing at Mongoose.
Greater Mongoose plan view map showing the recent drill hole locations and the drone-based magnetics (analytic signal).
Mongoose Deeps Prospect
The Mongoose Deeps magnetic anomaly is a highly attractive target which is located beneath the Mongoose copper deposit. In July, the company announced it had discovered a large Iron Oxide Copper Gold (IOCG) breccia system at Mongoose Deeps similar in size, shape and magnitude to the nearby world class Ernest Henry Mine, after its maiden drill hole reached a target depth of 1,612m.
The pipe is not exposed at surface, so is a blind target. What is seen at surface are copper mines, deposits, and occurrences which are hosted in highly fractured, and faulted dolerites.
Similarities to Ernest Henry include very-high magnetite shear zones, followed by crackle breccia with bird’s wing textures, massive pyrite zones, and polymictic brecciation with magnetite and sulphides (pyrite-chalcopyrite).
The magnetic breccia zone encountered was significantly higher than the modelling suggested, which will enhance future exploration. Around 400m of core was cut for copper, gold and cobalt analysis.
Renegade received a $300,000 state grant to assist with funding the drilling of Mongoose Deeps, which was the maximum amount available in round 8 of the Queensland Government’s Collaborative Exploration Initiative (CEI).
Cross section looking SW, showing conceptual target and proposed CEI 9 2025 application drill hole.
Mt Glorious Prospect
Mt Glorious is located just 7km west of both Mongoose and the Cloncurry townsite and lies 500m south from the Barkly Highway.
Mt Glorious was mined up until approximately 2015 with limited availability of records. Mt Glorious consists of three pits, South Pit, Main Pit and North Pit. From the sampling completed to date, field mapping and observation of the geological settings it appears the ore grade was high.
Previous Drilling
The work completed by the CJV during the early 2010’s delineated an extensive coincident magnetic-chargeable anomaly. Based on the coincident anomalies, CJV completed 3,988.1 m of reverse circulation (RC) and diamond drilling over 21 drill holes during 2013/2014. This drilling is exclusively orientated towards the south and has intercepted large zones of Cu-Au mineralisation at surface and depth including;
• 44 m @ 1.7 % Cu & 0.17 g/t Au from 2 m (MGX009)
• 11 m @ 1.2 % Cu & 0.31 g/t Au from 20 m (MGX019)
• 6 m @ 1.0 % Cu & 0.34 g/t Au from 98 m (MGX017)
• 15 m @ 1.6 % Cu & 0.32 g/t Au from 174 m (MGX002)
• 10 m @ 0.95 % Cu & 0.12 g/t Au from 8 m (MGX011)
• 28 m @ 0.66 % Cu % 0.067 g/t Au from 105 m (MGX010)
• 5 m @ 1.7% Cu and 0.42g/t of Au from 20 m (MGX005)
Renegade Exploration Tenement Map