Renegade Gold Extends High-Grade Mineralization and Discovers New Zone at Newman Todd Project in Red Lake, Ontario
Renegade Gold Extends High-Grade Mineralization and Discovers New
Zone at Newman Todd Project in Red Lake, Ontario
VANCOUVER, BC, May 9, 2024 – Renegade Gold Inc. (TSXV: RAGE, OTCQX: TGLDF, FSE: 070)
(“Renegade” or the “ Company”) is pleased to report additional results from the first phase of drilling at
its advanced Newman Todd Deposit in Red Lake, Ontario. In what constitutes the first major program
targeting below 300 m, drilling has successfully extended high-grade gold mineralization in multiple holes
to a depth of more than 750 m. Of particular note, drilling has also identified a new Hanging Wall (HW)
Zone of high-grade gold that will be prioritized for further drill testing. Mineralization at Newman Todd
remains open to depth and occupies the entire 2.2 km strike length across the property.
Drill Result Highlights
Hole NT-24-012 intersected 14.3 g/t Au over 2.8 m and 8.1 g/t Au over 4.7 m . These results
extend high-grade gold mineralization more than 350 m below the previous drilling horizon
(Figures 1 & 3).
Hole NT-24-015 intersected 9.7 g/t Au over 1.5 m and 7.1 g/t Au over 1.5 m. These results extend
high-grade gold mineralization to a depth of 760 m below surface and follow up on previously
announced step out results including 5.0 g/t over 9.0 m in hole NT-23-002 and 8.7 g/t Au over
20.4 m in hole NT-22-212 (Figures 1 & 2).
New, high-grade HW Zone: Eight holes encountered significant new HW structures including
15.7 g/t Au over 1.0 m in hole NT-23-004, 18.1 g/t Au over 1.1 m in hole NT-23-005 and 7.0 g/t
Au over 2.0 m in hole NT-24-011 (Figure 1).
The ongoing drilling targeting the intersection of the Newman Todd Structure and the Hinge fault continues
to deliver high-grade results at depth. High-grade extensions in multiple drill holes to more than 750 m
demonstrates grade continuity and increased confidence in current geological models, including the
importance of east-west structures ( Figure 4 ). The Renegade technical team continues to refine the
geological model and identify additional intersecting structures that would provide a conduit for high-grade
gold mineralization.
In addition to the success at extending Newman Todd at depth, multiple drill holes have intersected a new,
near surface, high-grade HW Zone ( Table 1). Work is underway to model these new structures and plan
subsequent drilling for further definition. The identification of a new, near surface gold zone is encouraging
to use the new models and data to explore adjacent host rocks to unlock the full potential of discrete gold
domains within the Newman Todd property that was previously considered a low-grade, bulk tonnage
deposit.
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Figure 1. Plan map of the Newman Todd Project showing latest drill results with modelled gold
mineralization projected to surface.
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Figure 2. Cross section A-A’ at the Newman Todd Project looking east, showing recent step out
drilling extending mineralization at depth (NT-23-002 and NT-24-015).
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Figure 3. Cross section B-B’ at the Newman Todd Project looking east, showing recent step out
drilling extending mineralization at depth (NT-24-011 and NT-24-012).
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Figure 4. Newman Todd 3D model showing the Newman Todd Zone and Hinge Fault.
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Table 1. Newman Todd Drill Result Highlights
Hole ID Zone From (m) To (m) Length (m) Au (g/t)
NT-23-004 HW 229.5 230.5 1.0 15.7
NT 519.5 524.0 4.5 1.2
NT-23-005 HW 385.3 386.4 1.1 18.1
NT 466.0 467.5 1.5 4.6
NT-24-006 NT 107.0 109.5 2.5 5.0
NT 143.0 143.5 2.0 2.5
NT-24-008 HW 27.0 34.5 7.5 1.3
NT 174.3 179.6 5.3 1.1
NT-24-010 HW 86.4 99.1 12.7 1.5
Including HW 86.4 88.7 2.3 3.3
NT-24-011 HW 384.0 386.0 2.0 7.2
NT-24-012 HW 331.6 335.5 3.9 3.7
NT 701.8 704.5 2.8 14.3
NT 801.3 806.0 4.7 8.1
NT-24-013 NT 694.9 709.6 14.7 2.5
Including NT 696.8 698.1 1.3 9.0
NT-24-015 NT 757.6 759.1 1.5 9.7
NT 769.3 773.3 4.1 1.9
NT 860.0 861.5 1.5 7.1
Renegade also announces that a total of 3,100,000 incentive stock options have been granted to directors,
officers, consultants and employees of the Company pursuant to the Company’s Long Term Incentive Plan.
The options are exercisable for a period of three years at a price of $0.44 per share and shall vest
immediately.
QA/QC
Drill core is logged and sampled at a secure core processing facility in Red Lake, Ontario. Core samples
from the drill program are cut in half using a diamond cutting saw with half sent for assay at SGS
Laboratories Ltd. in Red Lake, Ontario. The other half is secured and retained at a secure storage facility.
All samples are analyzed for gold using standard Fire Assay-AA techniques. Samples returning greater than
10.0 g/t gold are analyzed utilizing standard Fire Assay-Gravimetric methods. In addition to SGS internal
QAQC procedures, certified reference materials, blanks and duplicates are routinely inserted into the
sample stream as part of Renegades quality control/quality assurance program.
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.
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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
Tel: 604-678-5308
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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that may cause actual results to vary materially include, but are not limited to, inaccurate assumptions concerning the
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