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Renegade Exploration Ltd: THE INVESTMENT CASE

Renegade Exploration encouraged by aircore drilling success at Yandal East Gold Project

Thick mineralisation is identified at multiple sites and new high-priority targets are generated.
Drilling at Yandal East project
Three more targets are expected to be drilled next quarter

Renegade Exploration Ltd (ASX:RNX) has identified thick mineralisation at multiple sites and generated five new high-priority targets in aircore drilling at the Yandal East Gold Project in WA.

There were 285 holes completed for 23,789 metres in the first pass aircore drilling program with promising results received from the Mizina, Mizina South, Ward and Millrose Extension prospects.

READ: Renegade Exploration continues major drill program at Yandal East Gold Project

One drill hole at Mizina South had mineralisation greater than 1.0 g/t gold over 75 metres.

It included 11.5 metres at 0.80 g/t from 117 metres, 1 metre at 2.56 g/t from 89 metres and 1 metre at 1.34 g/t from 51 metres.

Gold grades up to 4.61 g/t were intersected at Ward and up to 2.56 g/t at Mizina.

Only five targets tested

Only five of the original nine large, high-priority targets have been tested.

Renegade plans to drill another three of five new additional targets generated during the aircore program in consultation with expert consultant Jon Hronsky, of Western Mining Services.

Location of Yandal East and priority targets and prospects.

This work is expected to begin during the December quarter at an estimated cost of less than $250,000 with a $132,000 grant payment approved for processing by the EIS coordinator.

Other highlights from the inaugural aircore program are:

- 10 metres at 0.95 g/t from 78 metres, including 6 metres at 1.40 g/t from 82 metres;
- 4 metres at 1.55 g/t from 61 metres;
- 4 metres at 1.36 g/t from 64 metres; and
- 1 metre at 1.84 g/t from 38 metres.


The company has gained a vast amount of knowledge and data as a result of the drilling program.

A better understanding of the geology and mineralisation in the target areas has generated five new high-priority targets.

These are within the original, larger target areas previously developed in conjunction with Jon Hronsky.

Closer spaced drilling recommended

He has subsequently reviewed the recent results and assisted in the assessment of the five new targets and recommended closer spaced drilling over these targets.

READ: Renegade Exploration reveals positive maiden gold drilling results from Coralie Jean

Renegade said it was excited to be able to drill these new targets so soon after their identification. The new targets all contain known mineralisation, structural and geological complexity and include Ward, Mizina North, Mizina South, Millrose Extension and Coralie Jean South.

There are plans to drill Ward, Mizina North and Millrose Extension in the upcoming quarter with drilling to follow at the other targets thereafter.

Regional location, tenement ownership and basement geology of the Yandal region.

Prolific region

Yandal East is within the well-endowed gold region known as the Yandal Greenstone Belt, 70 kilometres northeast of Wiluna.

The region has historically produced in excess of 10 million ounces of gold and Renegade’s permits are adjacent to and along strike in both directions from the Millrose deposit containing 309,000 ounces at 2.4 g/t.

Apart from Yandal East, Renegade also owns 90% of the Yukon Base Metal Project within the highly prospective Selwyn Basin, Yukon Territory, Canada.

This project hosts a JORC measured, indicated and inferred mineral resource of 12.6 million tonnes at 6.0% zinc equivalent.

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