Growth-focused company Renegade Gold has entered into two agreements – one to acquire the BobJo Property covering 65 ha of nine patented claims and the other to acquire the Keystone Property covering 4 320 ha of 212 unpatented single-cell claims, in the Red Lake mining district of Ontario.

With the addition of these properties, Renegade’s consolidated land position in Red Lake now totals about 94 000 ha, one of the largest exploration portfolios in the district, the company highlights.  

The BobJo property will be advanced as part of the company’s Confederation project, while the Keystone Property expands Renegade’s contiguous holdings between Red Lake Main, Gullrock and Confederation properties, bolstering its position across both the Red Lake and Confederation greenstone belts.

“The Keystone property represents a strategic stretch of the Confederation unit that connects our core Red Lake land with our vast Confederation Belt holdings. This 15 km corridor begins near Red Lake at the Balmer-Confederation contact and extends eastward along highly favourable structural targets and mafic-felsic contacts, which are key to recent Red Lake discoveries.

“The Keystone property provides an excellent bridge between Red Lake and the Birch-Uchi Confederation belt, while also allowing for more efficient claim management,” CEO and president Devin Pickell says.

“The addition of BobJo comes at an exciting time as we renew our focus on building a strong pipeline of exploration targets within the Confederation project. This property lies fully inside of our existing land position, and the historical presence of high-grade gold mineralisation is extremely encouraging. We look forward to solidifying our exploration models and advancing new drill targets in this area,” he adds.

Pursuant to terms of the BobJo agreement, the company must issue to the vendor 750 000 post-consolidation common shares within five business day of receipt of TSX-V approval.

Pursuant to the terms of the Keystone agreement, the company has the option to acquire the Keystone property by issuing a total of three-million post-consolidated common shares and paying $150 000 in cash to the optionor.

Completion of the transactions under two agreements remain subject to approval of the TSX-V.