Renegade (ASX: RNX) starts transient electromagnetic survey at copper promising Lady Agnes prospect

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Renegade (ASX: RNX) starts transient electromagnetic survey at copper promising Lady Agnes prospect

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 Renegade (ASX: RNX) starts transient electromagnetic survey at copper promising Lady Agnes prospect
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Highlights:

  • Renegade Exploration Limited’s recent drilling and the updated geological and geophysical interpretations hint towards further copper sulphide mineralisation at the Lady Agnes prospect of North Isa Project.
  • A down hole transient electromagnetic survey has kicked-off at the Lady Agnes prospect, which is considered prolific for copper mineralisation.
  • The survey is set to examine past evidence of higher-grade copper zones for mineralised conductors.
  • The survey results will be combined with past drilling results, historical auger results (recently digitised), and a forthcoming infill auger sampling programme, all in a bid to define additional targets for next round of drilling.

Renegade Exploration Limited (ASX: RNX) has started a down hole transient electromagnetic (DHTEM) survey at its North Isa Project in order to test the promising potential of high-grade copper mineralisation at the Lady Agnes Prospect of the said project.

An Australia-based company for mineral exploration and development, Renegade’s North Isa Project sits immediately north of Glencore’s George Fisher Mine.

Per Renegade director, Mr Robert Kirtlan, the DHTEM survey will be directed towards

  • identifying mineralised conductors within the sulphide system, and
  • providing data that will be used together with the upcoming planned infill auger sampling in order to identify additional drill targets.

Drill results in recent past

The following are the initial reported results for LARC22-03, based on 4m composite sampling:

Further upon the one-metre sampling for the higher-grade section above, the following results were obtained for LARC22-03:

Please refer to the following plan view map of recent drilling together with auger results:

Source: Company update, 21 October 2022

Lady Agnes prospect’s copper potential

With the recent drilling, coupled with the updated geological and geophysical interpretations, as per RNX the potential for further copper sulphide mineralisation has been found at Lady Agnes.

These new zones occur both within the current IP anomaly and, importantly, also outside it. Follow-up field work is in progress. Further, if necessary, more geophysical programmes will be conducted to figure out targets for the next round of drilling at the North Isa Project.

In the historical diamond drill-hole, LAG1, mineralisation starts from 273m and intersects a broad zone of copper within a breccia style structure. This structure is one of the more common mineralisation hosts in the area.

The company’s recent drilling programme was designed to test sulphide mineralisation from a depth range of nearly 50m‑150m above the deeper big zone of mineralisation intersected in LAG1 in the early 1980s. The results have proved the system is robust, and step-out drilling is required following the current work programmes.

Lady Agnes prospect is located at the flexure of Paroo thrust, which separates the basement Eastern Creek Volcanics and Mt Isa Group sediments. Historical mining revolved around higher-grade oxide resources, while the more recent works (1960s-2000s) involved drilling and geophysics studies.

RNX stock price last traded at AU$0.006 as on 18 October 2022. 

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