Renegade Exploration (ASX:RNX) has identified significant graphite rich zones along with new rare earths and uranium prospects within the Carpentaria joint venture (CJV) following a desktop review of historical geological data.
Renegade Director Robert Kirtlan says the graphite discovery at Tommy Creek within EPM 12561 is particularly exciting as given the mapping, sampling plus prior drilling it has potential to be large.
“When China added graphite to their mineral export restrictions we immediately planned and carried out reconnaissance work at the beginning of the wet season on the permit as previous work completed had highlighted its prospectivity for not just graphite but rare earths, uranium, and copper.
We were delighted to uncover a potentially significant graphite prospect at Tommy Creek which covers over 3km-square, as well as outstanding rare earth and uranium potential at the Beacon and Boundary prospects.”
EPM 12561 is part of the Carpentaria joint venture (CJV) between Glencore (LON:GLEN) and Renegade, whose stake is currently 23.03%. Renegade has approached the joint venture partner to excise the permit and include it with EPM 8588 which Renegade is operating and sole funding to increase its interest.
Renegade Exploration is an Australian minerals exploration company developing a portfolio of advanced copper and gold projects in north-west Queensland. Renegade’s immediate primary focus is the Cloncurry Project located in mining infrastructure-rich Cloncurry.
In January 2023, Renegade reached an agreement with Carpentaria JV partner Mount Isa Mines (ASX:MIM) to become sole operator and funder of the project, which is very advanced in terms of exploration activity. The company has expanded its north-west Queensland operations with a 75% interest in a JV on the North Isa Project.
More recently, Renegade has applied for a number of permits in the Barcaldine region. The company’s Aramac tenements cover the previously discovered Toolebuc formation which is host to vanadium deposits to the north in the Julia Creek and Richmond areas.
Write to Adam Orlando at Mining.com.au
Images: Renegade
