Dreadnought (ASX:DRE) build on famed Yin discovery

Dreadnought Resources has revealed the highest value rare earth ratios recorded from several new assays at its high-profile Yin discovery, part of its 100% owned Mangaroon project in Western Australia’s emerging Gascoyne region.

These assays have also led to the extension of the Yin Ironstones discovery by another kilometre.

The first pass program has confirmed three additional ironstone discoveries in the Y2 area, which are expected to support resource upgrades and combine with Yin extensions to form the initial Scoping Study.

The metallurgy results suggest that a highly sought-after concentrate can be produced using a standard flowsheet at Yin, and the findings indicate that production could come from a significantly expanded resource.

Dreadnought Managing Director Dean Tuck said the dam was finally burst on assays, and his company stands primed for steady news flow throughout the rest of the year.

“Highlights include: the highest NdPr:TREO ratios seen to date from three new discoveries with a combined ~2.5km strike length – Yin extended ~1km to the south; and high grades from surface at Y2 where a Resource will be delivered,” Mr Tuck said.

“We look forward to expanding the Resource base with significant news flow throughout 2023”

Growth potential

Dreadnought sees true scale potential from its Ironstone discoveries, with an initial 14.36Mt @ 1.13% TREO resource covering three of 43 kilometres of the strike, achieved from just two and a half months of RC drilling.

A 40-kilometre-long exploration target with a top-end of 100Mt at 1.3% TREO has been estimated for the top 150 metres of the Ironstone Complex, and results will keep coming in from the extension and first pass broad-spaced drilling program, which continues to turn.

And there is room beyond Yin; Mangaroon’s C1-C7 carbonatites are shaping into a regional source of rare earth alongside significant high-grade gold potential and a JV area host to outcropping high-tenor Ni-Cu-PGE blebby sulphides.

In the pipeline

Drilling results from Mangaroon will be coming through to December, with resource upgrades scheduled for this month and at year’s end.

This month, FLEM results from Thunderer and Orion and a nickel review of its Central Yilgarn assets is also expected, providing plenty of presentation material ahead of conference season at Noosa and Diggers & Dealers.

Plan view showing hole locations over the current 3km long Resource

DRE.AX

DREDNOUGHT FPO [DRE]

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DREDNOUGHT FPO [DRE]

Sector: Basic Materials

Industry: Other Industrial Metals & Mining

Employees:

Dreadnought Resources Limited operates as mineral exploration company in Australia. It primarily explores for copper, nickel, gold, silver, cobalt, platinum group elements, rare earth elements, iron ore, and base metals. The company was formerly known as Tychean Resources Limited and changed its name to Dreadnought Resources Ltd in February 2019. Dreadnought Resources Limited was incorporated in 2006 and is based in Osborne Park, Australia.

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