Dreadnought (ASX:DRE) dig in to massive Money sulphides

Dreadnought (ASX:DRE) dig in to massive Money sulphides

November 8, 2023 Off By Rueben Hale

Dreadnought Resources has returned more assays confirming a new sulphide system at the earn-in nickel-copper-cobalt 3PGE portion of Mangaroon as it begins more drilling alongside major miner First Quantum Minerals in the West Australian Gascoyne.

All assays have now been received from the ten-hole campaign into the Bookathanna North and High Range prospects and a seven-hole campaign will now begin, with eyes already on more RC and diamond drilling alongside DHEM and MLEM surveys for the new year.

A 23m @ 0.50% Ni 0.51% Cu 0.02% Co 0.49g/t 3PGE strike was the highlight of this round, and all holes into the keel of the Bookathanna North intrusion successfully struck mineralisation.

It backs up a dozen-hole program which intersected mineralisation in all holes two and a half kilometres to the south, with another seven to come this year along the 45-kilometre Money Intrusion.

Dreadnought Managing Director Dean Tuck said the company was pleased to be beginning a new round of drilling following up on another successful program.

“With assays now in hand, we have confirmed that thick near surface sulphide mineralisation with high grade massive and semi massive sulphides exists within the Money Intrusion,” Mr Tuck said.

“Confirming a new Ni-Cu-Co-3PGE sulphide system and opening up an entirely new search space is extremely exciting as we continue to explore and unlock the potential of the Money Intrusion.

“Every program continues to teach us more about this new system and we look forward to re-assessing the entire Money Intrusion, including follow up geophysics later this month and into 2024.”

Despite the scarcity of fertile Ni-Cu-Co-3PGE sulphide systems, outcropping nickel sulphides identified at Mangaroon in the early 1960’s were never followed up until the arrival of Dreadnought, who have since proven up high tenor mineralisation and outcropping blebby sulphides across the intrusion.

The large majority of holes have either assayed and shown visual or pXRF evidence of Ni-Cu-Co-3PGE sulphides and Dreadnought has confirmed mineralisation at three prospects as it continues tapping into the camp-scale potential of its earn-in portion of Mangaroon.

Significant results

  • REYRC013: 23m @ 0.50% Ni 0.51% Cu 0.02% Co 0.49g/t 3PGE from 36m including:
    2m @ 3.32% Ni 2.88% Cu 0.12% Co 1.46g/t 3PGE from 45m
  • REYRC014: 22m @ 0.18% Ni 0.24% Cu 0.01% Co 0.24g/t 3PGE from 34m including:
    7m @ 0.30% Ni 0.44% Cu 0.02% Co 0.38g/t 3PGE from 41m
  • REYRC018: 53m @ 0.15% Ni 0.22% Cu 0.01% Co 0.08g/t 3PGE from 5m including:
    1m @ 0.29% Ni 1.50% Cu 0.01% Co 0.11g/t 3PGE from 47m
  • REYRC019: 10m @ 0.36% Ni 0.45% Cu 0.02% Co 0.18g/t 3PGE from 76m including:
    2m @ 1.15% Ni 1.30% Cu 0.06% Co 0.36g/t 3PGE from 78m

DRE Mangaroon Map

Plan view map

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