Ann: Mongoose drilling delivers best copper intervals to date, page-8

A major copper discovery at Renegade Exploration’s Cloncurry project has transformative potential for both the company and the Cloncurry region. As an emerging copper-gold producer, Renegade’s results at Greater Mongoose, which reflect significant copper mineralization in every drill hole, underscore its prospects for further discoveries. Each intersection not only strengthens Renegade’s resource base but also adds momentum to its efforts to define a large, economically viable deposit. Given the company’s proximity to Evolution Mining’s large-scale Ernest Henry copper-gold operation, a breakthrough of similar magnitude at Mongoose could attract greater attention from investors and potential development partners, accelerating Renegade's journey towards production.

For the Cloncurry region, an IOCG (Iron Oxide Copper-Gold) discovery of this scale would boost economic activity, job opportunities, and long-term infrastructure development, further enhancing its reputation as a strategic copper district. The Queensland Government’s support through CEI funding reinforces the region’s appeal for exploration investment, potentially sparking further mineral development in north-west Queensland. With Renegade’s latest results showing high-grade intersections, the company has a unique opportunity to leverage this government support and continue aggressive exploration, capitalizing on promising geological similarities to Ernest Henry.

The focus on vectoring towards copper-rich zones, especially with the advanced understanding of Mongoose Deeps, is crucial for guiding drill programs effectively. The recent drilling has provided valuable insight into magnetic alteration zones, which serve as key indicators for copper mineralization, helping Renegade hone in on high-potential areas. By targeting these zones, Renegade can strategically advance towards deeper, potentially richer copper concentrations, optimizing resource definition efforts at Mongoose and enhancing the project’s appeal as a sizable future copper-gold asset.