- Rock chip sampling program at Lady Agnes prospect returned up to 5.99% Cu and 1.28g/t Au.
- The sampling program has delineated a 100m strike for drill-testing over Lady Agnes.
- Renegade is planning to drill test near-surface copper oxide mineralisation and sulphide IP anomaly.
- RNX continues its field program at lady Agnes and Tulloch prospect, with more base metal assays still pending.
Renegade Exploration Limited’s (ASX:RNX) geology team has identified a 100m copper strike on the Lady Agnes prospect on the project tenement.
Besides that, the assay result from the recently undertaken rock chip sampling program returned high-grade values of copper and gold. The results have added further value and information to help with planned drilling program over the prospect.
The rock chip samples have returned values up to 5.99% Cu and 1.28g/t Au. A drilling campaign is being planned to test the near-surface copper oxide mineralisation and upper portion of the interpreted sulphide IP anomaly.
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Lady Agnes plan view (Image source: Company update, 21 April 2022)
Commenting on the rock chip sampling result, Renegade’s Chairman Mr Rob Kirtland said, “The rock-chip sampling program has successfully enabled our geology team to identify a 100m copper strike at Lady Agnes. The objective now is to drill test the oxide zone and interpreted sulphide anomaly to gain clearer insights on the copper mineralisation potential.”
Renegade’s geology team has established a unique correlation between high-grade copper values and coincident higher-grade gold values at North Isa Project from the sampling program. The Company is optimistic that any future potential gold mining operation on the project will create significant incremental value for shareholders.
Result of the rock chip sampling program at Lady Agnes (Image source: Company update, 21 April 2022)
Renegade planning to drill test sulphide mineralisation on Lady Agnes
The historical drill data suggests that the mineralisation was intersected in a historical LAG1 hole from 273m and intersected a broad zone of copper within the breccia style structure. Renegade is planning to drill nearly 10 RC holes to test sulphide mineralisation from circa 100-150m.
Lady Agnes cross-section showing interpreted IP and LAG1 and drilling target zone (Image source: Company update, 21 April 2022)
Mining operations in the past focused on higher-grade oxide deposits, while more recent development (1960s–2000s) involved drilling and geophysics. Mt Isa Mining drilled several deeper holes along the Western Fault to test for larger ore deposits. The drill hole LAG1 was drilled adjacent to the Lady Agnes Mine.
Renegade believes there is potential for copper sulphide mineralisation within the major alteration zone, which has a corresponding IP anomaly. Renegade’s proposal is based on its geological and geophysical interpretation.
Pipeline and Tulloch prospects have witnessed several exploration programs with little drilling. The rock chip sampling program resulted in further information, which is being incorporated into the historical data and includes reprocessing existing geophysical data to identify prospective drill targets.
Renegade continues its field programs at the North Isa Project. The exploration activities include soil sampling, mapping and interpretation of historical data at the Lady Agnes, Pipeline and Tulloch prospects.
Related read: Renegade (ASX:RNX) shares trade at new 52-week high
Shares of RNX were trading at AU$0.012 at the early hours of trade on 21 April 2022, with a market cap of AU$10.55 million.