Renegade Exploration Limited is planning a reverse circulation (RC) drilling campaign up to 3,000m at its Mongoose Project near Cloncurry for later this month after recent rock sampling confirmed the presence of significant copper-gold mineralisation within multiple gossanous zones. Mongoose was first discovered in 2013 and was subject to approximately 4,000m of drilling at that time which confirmed it as an extension to the neighbouring Paddock Lode mine and Taipan deposit owned by True North Copper and part of the Great Australia mining lease. Mongoose is part of the Carpentaria Joint Venture (CJV) between Glencore plc and Renegade, whose stake is currently 23.03%.

In January 2023, Renegade recently reached agreement with Glencore to excise the Mongoose Project (EPM8588) from the CJV and sole risk future expenditure. Renegade's interest in EPM8588 will increase with expenditure. Mongoose is hosted by dolerite-gabbro-porphyritic basalts of the Toole Creek Formation.

The mineralised zone is dominated by magnetite-actinolite-albite-chlorite altered, sheared and brecciated dolerites. The mineralisation is both primary and supergene in nature. The supergene zone is defined by the presence of malachite, chrysocolla, chalcocite, and cuprite.

The fresh, primary (hypogene) copper mineralisation is defined by chalcopyrite with accessory pyrite. The work completed by the CJV during the early 2010's delineated an extensive coincident magnetic-chargeable anomaly. Based on the coincident anomalies, CJV completed 3,988.1m of reverse circulation (RC) and diamond drilling over 21 drill holes during 2013/2014.

This drilling is exclusively orientated towards the south and has intercepted large zones of Cu-Au mineralisation: 44 m at 1.7 % Cu & 0.17 g/t Au from 2 m (MGX009); 11 m at 1.2 % Cu & 0.31 g/t Au from 20 m (MGX019); 6 m at 1.0 % Cu & 0.34 g/t Au from 98 m (MGX017); 15 m at 1.6 % Cu & 0.32 g/t Au from 174 m (MGX002); 10 m at 0.95 % Cu & 0.12 g/t Au from 8 m (MGX011); 28 m at 0.66 % Cu % 0.067 g/t Au from 105 m (MGX010).