Renegade Exploration Limited (ASX:RNX) has achieved its full 75% interest in the North Isa Project, located just 25km north of the globally significant Mt Isa Zn-Pb-Ag and Cu mines and 17km north of Glencore’s George Fisher Zn-Pb-Ag mine.
The company has met its $500,000 expenditure commitment and has drilled Lady Agnes and is now completing follow up programs.
Renegade has collated historical and recent data and is interpreting it with a view to generating drill targets in the current financial year.
The North Isa Project holds potential for high-grade copper mineralisation at the Lady Agnes prospect and other advanced prospects.
To earn their full interest in the project, Renegade has issued 10 million ordinary shares to the vendor, and 25 million Performance Rights (converting to ordinary fully paid shares) subject to achieving certain performance milestones within five years.
Following the announcement, shares of Renegade Exploration (ASX:RNX) were unchanged at $0.006.