Renegade Exploration Limited (ASX: RNX) has identified high grade and thick mineralization at multiple targets across its Yandal East Gold Project. The discovery comes after the company completed airborne drilling program late in 2018 with total 62 holes for 7,189m focusing on the follow up of mineralization identified during the inaugural program in mid-2018. It included three high priority follow-up targets, Wards, Mizina South, Millrose Extension, and one original target, Strip Well.
In today’s media release, the company stated that thick mineralization was identified at Ward including intervals of 20m @ greater than 1 g/t Au. At the Ward Prospect, the company completed 19 holes for 2,207m, drilled along strike from significant mineralization identified in the inaugural aircore program earlier in 2018.
Renegade explained Mizina South as one of the most exciting targets drilled in the inaugural aircore program at Yandal East in July 2018. It led to a follow up drilling in November 2018 with 15 holes for 1,717m. This region has returned as high as 5.74 g/t grade gold with best results including 1m @ 5.74 g/t Au from 83m, 1m @ 4.11 g/t Au from 113m and 6m @ 1.67 g/t Au from 80m.
The original Mizina target was 7km long extending between the known mineralized areas of Ward and Cowza along the same regional structure, the Celia Shear. The company told that the region has an abundance of cross-cutting structures, geological complications, and disruptions in magnetic features. Also, the mineralization at Mizina South reportedly remains open in both directions with the potential for the discovery of high-grade mineralization in both directions. The company further intend to complete further work in 2019 to know the developing potential of both, the Mizina South and the greater Mizina area.
The company’s next target was Millrose Extension which was first drilled in mid-2018. The drilling results revealed that Millrose Extension remains a geologically exciting area with sulphide-bearing mafic schists, felsic schists and both silicification and quartz veining increasing towards a granite body.
On the front of Strip Well, the company completed 6 holes for 860m as a preliminary test of the target to investigate the geology in the area so future programs can be more effectively targeted. However, Renegade did not identify any significant mineralization during the scout drilling at Strip Well. In today’s trading session, RNX stock price has gone up as much as 33.33% to last trade at $0.004 on 18 January 2019. Over the past 12 months, the stock has witnessed a negative performance change of 76.92%.
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