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Renegade Exploration to drill for gold near 10 million ounce Jundee project

The company is on track to begin its maiden 25,000 metres drilling program.

Gold bars and nugget
Yandal East Gold Project is in Western Australia’s prolific Yandal Greenstone Belt

Renegade Exploration Ltd (ASX:RNX) started trading on the ASX today after changing its name from Overland Resources Ltd (ASX:OVR).

The change of name, which was approved by shareholders at a general meeting last week, is consistent with Renegade’s gold development focus.

25,000 metres of drilling planned

As it launches the new name, the company will begin a 25,000-metre drilling program at the Yandal East Gold project later this quarter.

The 300 square kilometre project is in proven gold country within the prolific Yandal Greenstone Belt in Western Australia.

Near Jundee Gold Project

It is just 25 kilometres east of Northern Star Resources Ltd’s (ASX:NSR) 10 million ounce plus Jundee Gold Project.

The company recently identified nine high-priority targets within the project covering about 32 kilometres of strike length.

15+ million ounces of gold produced in belt

It is worth noting that the world-class Yandal Greenstone Belt has seen past production exceeding 15 million ounces of gold.

Renegade is well funded for exploration following a $2 million share placement to sophisticated and institutional investors at 1.1 cents per share during the March 2018 quarter.

The company also recently executed an agreement to acquire an exploration licence covering the western edge of the greenstone belt.

The acquisition consolidates and complements the company’s existing holdings and reaffirms the Company’s commitment to the area.

It creates a continuous tenement holding to the south from the Cowza prospect.

Quick facts: Renegade Exploration Ltd

Price: 0.005 AUD

ASX:RNX
Market: ASX
Market Cap: $3.56 m
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Renegade Exploration has drilled only 5/9 high priority targets, already...

Mark Wallace, non-executive director of Renegade Exploration Ltd (ASX:RNX), stops by Proactive Investors to discuss the completion of a 285-hole, 23,789-metre first pass aircore drilling program at the camp scale Yandal East Gold Project in Western Australia. Follow up drilling is already...

on 18/9/18

2 min read