- Renegade Exploration (ASX:RNX) will drill two 250m deep holes targeting large coincident magnetic induced polarisation (IP) anomaly at Edgarda copper-cobalt prospect.
- The prospect is part of the Carpentaria Joint Venture (CJV) and is in close proximity to various discoveries by Carnaby Resources.
- As per the company update, the drilling program will commence next month.
The company will commence the drilling next month, and the campaign will include drilling two exploratory holes each of 250m in depth.
Drilling to test a large coincident magnetic/ induced polarisation (IP) anomaly at the Edgarda copper-cobalt prospect located 60km southeast of Mount Isa.
Source: © 2022 Kalkine Media®, data source: company update
First hole: This hole will target underneath the historical Edgarda mine, with recorded dimensions as 400m length, 15m width, and 8m depth. The mine is 9km from Carnaby Resources’ Mount Hope copper discovery. This area is completely undrilled to date.
Second hole: This hold will target beneath the best historical drilling result of 23m @ copper: 0.3% and cobalt: 626ppm (EDG006RC).
Source: Company update
Background: Edgarda copper-cobalt prospect
The prospect is part of Renegade’s 23.03% CJV with Glencore plc. CJV covers a package of advanced copper and gold projects in Queensland’s Cloncurry and Duchess mining districts of Queensland.
Click here to know more on the company's other projects and developments.
The prospect hosts Corella formation’s (Eastern Fold Belt) highly sheared and altered calc-silicate rocks. It lies in proximity (lies within 9km) to three recent discoveries by Carnaby Resources, which includes:
- Nil Desperandum lying 7 km South-West, 41m @ 4.1% copper
- Lady Fanny lying 5km East-West, 68m @ 2.4% copper
- Mount Hope lying 8 km North-West, 60 m @ 3.1% copper
Source: Company’s update
An extensive coincident magnetic-chargeable-resistive-soil (copper/cobalt) anomaly was delineated during the early 2000s based on the work completed by the CJV.
Additionally, the coincident anomalies made CJV opt for a nine-hole 2,230m of reverse circulation and diamond drilling program during 2007/2008. The drilling program, which was entirely orientated towards the east, has intercepted large zones of copper-cobalt mineralisation:
- 52m @ copper: 0.22% & cobalt: 382ppm (from 32m) including:
23 m @ copper: 0.3% & cobalt: 626ppm (from 33m),
- 40m @ copper: 0.21% & cobalt: 309ppm (from 92m), &
- 20m @ copper: 0.20% & cobalt: 286ppm (from 94m)
Source: Company update