Renegade Gold Expands Drill Program to 25,000 m in Red Lake; Targets New High-Grade Zones
Renegade Gold Inc. announces the expansion of its drill program at the Newman Todd gold deposit in Red Lake, Ontario, from 10,000 m to 25,000 m to target new high-grade zones. The drilling will focus on high-grade extensions along the 2.2 km deposit strike, with potential for additional mineralization at depth. Step out drilling has already encountered high-grade results. The company will also ramp up exploration activities in the vicinity of West Red Lake Gold's Madsen Mine and other regional properties to identify new drilling opportunities.
Expansion of drill program to 25,000 m enhances the potential for discovering new high-grade zones at Newman Todd gold deposit.
Encounter of high-grade mineralization, including 8.35 g/t Au over 3.5 m and 5.0 g/t Au over 9.5 m, at depth indicates significant mineralization potential.
Ramping up of exploration activities in the Red Lake area to refine targets and identify new opportunities shows commitment to maximizing exploration success.
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Vancouver, British Columbia--(Newsfile Corp. - April 30, 2024) - Renegade Gold Inc. (TSXV: RAGE) (OTCQX: TGLDF) (FSE: 070) ("Renegade" or the "Company") is pleased to announce an expansion of its current drill program from 10,000 m to 25,000 m at the Newman Todd gold deposit in Red Lake, Ontario (Figure 1). Drilling will target multiple high-grade extensions along the 2.2 km deposit strike. While previous drilling has focused on widespread mineralization within the upper 300 m of the deposit, the latest analysis by Renegade geologists indicates strong potential for additional high-grade mineralization at depth. Step out drilling encountered high-grade mineralization, including 8.35 g/t Au over 3.5 m at a depth of 400 m below surface and 5.0 g/t Au over 9.5 m at a depth of 550 m below surface (Figure 2) (see Renegade news release dated February 26, 2024).
Additionally, the program will include follow-up drilling at the Rivard Zone, approximately 400 m west of the deposit. The Rivard holes will focus on a high-priority target area where prior drilling returned results such as 355.0 g/t Au over 1.0 m (RV-02-03).
In conjunction with the drilling expansion at Newman Todd, Renegade Gold will ramp up exploration activities adjacent to West Red Lake Gold's Madsen Mine and across its regional properties, all of which contain highly prospective structures known to host gold mineralization in the Red Lake area. Planned activities include airborne magnetic and LiDAR surveys and detailed mapping and sampling at the prospect scale, starting in late spring 2024. These activities are designed to refine existing targets and identify new drilling opportunities.
Figure 1. Plan map of the Newman Todd Project showing drilling and modelled gold mineralization projected to surface.
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Figure 2. Cross section at the Newman Todd Project showing recent step out drilling extending mineralization at depth (NT-23-002).
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The technical content of this news release has been reviewed and approved by Dale Ginn, P.Geo., the Executive Chair and director of the Company and a Qualified Person pursuant to National Instrument 43-101.
About Renegade Gold Inc.
Renegade Gold Inc. is a growth focused company engaged in the business of acquisition, exploration and development of mineral properties located in the Red Lake Mining District of Northern Ontario. As part of its regional-scale consolidation strategy, the Company has assembled one of the largest prospective land packages in and around the Red Lake Mining District in proximity to major mines and deposits, as well as along the Confederation Lake and Birch-Uchi greenstone belts. The 89,600 hectares prospective and diversified exploration portfolio has significant potential for gold and critical minerals on trend with the major structures hosting known gold occurrences in the Red Lake mining district today.
For further information, please contact:
Renegade Gold Inc.
Nav Dhaliwal
President, CEO and Director
info@renegadegold.com
Tel: 604-678-5308
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note regarding Forward-Looking Statements
Statements contained in this press release that are not historical facts are "forward-looking information" or "forward-looking statements" (collectively, "Forward-Looking Information") within the meaning of applicable Canadian securities legislation and the United States Private Securities Litigation Reform Act of 1995. The words "anticipate," "significant," "expect," "may," "will" and similar expressions are intended to be among the statements that identify Forward-Looking Information. Forward-Looking Information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those implied by the forward-looking information. In preparing the Forward-Looking Information in this news release, the Company has applied several material assumptions, including, but not limited to, assumptions that general business and economic conditions will not change in a materially adverse manner and all requisite information will be available in a timely manner. Factors that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the exploration for and development of mineral deposits, currency fluctuations, unanticipated operational or technical difficulties, risks related to unforeseen delays; general economic, market or business conditions, regulatory changes; timeliness of regulatory approvals, the risks of obtaining necessary licenses and permits, changes in general economic conditions or conditions in the financial markets and the inability to raise additional financing. Readers are cautioned not to place undue reliance on this Forward-Looking Information. The Company does not assume the obligation to revise or update this Forward-Looking Information after the date of this release or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.
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