Overview
Located just south of Cloncurry, Mongoose is a primary target given significant historical gold intercepts and its location along strike from the neighbouring Great Australia Mine and Taipan Deposit.
The project was first discovered in 2013 with drilling confirming it as an extension to the neighbouring Paddock Lode mine and Taipan deposit.
Figure 1: Renegade Exploration Tenement Map
Geology
Mongoose is hosted by dolerite-gabbro-porphyritic basalts of the Toole Creek Formation. The mineralised zone is dominated by magnetite-actinolite-albite-chlorite altered, sheared and brecciated dolerites.
The mineralisation is both primary and supergene in nature. The supergene zone is defined by the presence of malachite, chrysocolla, chalcocite, and cuprite. The fresh, primary (hypogene) copper mineralisation is defined by chalcopyrite with accessory pyrite.
Figure 2: Mongoose Project Map
Maiden Mineral Resource Estimate
A maiden resource has been delineated for Mongoose of: 3.1 Mt @ 0.55 % Cu and 0.07 g/t Au for 17.0 Kt of Cu and 7.3 koz of Au at 0.25% Cu cut off.
The estimates are constrained within an optimal pit. The mineralisation is open along strike and at depth. Considerable scope for resource increase, Mongoose West target has potential to significantly increase the Cu-Au mineralisation. Renegade developed the resource within 12 months of commencing work.
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)
• 5m @ 1.7% Cu and 0.42g/t of Au from 20 m (MGX005)