Dreadnought (ASX:DRE) drilling strikes early success at Mangaroon

Dreadnought Resources has confirmed more ironstones and expanded known carbonatites on its first pass program to convert an exploration target into a hulking JORC resource at its fully owned Mangaroon Project in Western Australia’s Gascoyne Region.

Exploration of the Yin Ironstone Complex, already home to a JORC resource of 14.36Mt @ 1.13% TREO from just three kilometres, aims to blow that figure out of the sky with drilling targeting up to 100Mt at 1.3 per cent total rare earth oxides.

Previous drilling confirmed thick and shallow dipping mineralised ironstone along the strike of its Yin Resource, mineralised carbonatites stretching beyond the original interpretation of wide mineralisation and a complex mafic-ultramafic intrusive suite with potential similarities to the highly unusual Palabora Complex.

Dreadnought’s Managing Director Dean Tuck said with its first pass expected to wrap up next month; the company remains on track for multiple resource updates and a stream of news through the year.

“Drilling continues across multiple fronts targeting Resource growth south of Yin, discovery drilling at Y2 and confirming the >800m extension to the C5 carbonatite,” Mr Tuck said.

“In addition, encouraging observations from the C6 carbonatite support either a Palabora style opportunity, or perhaps Ni-Cu-PGEs with drilling ongoing.”

Mangaroon stands as a genuine scale opportunity, with high-grade multi-metal potential for the most in-demand metals of the rare earth suite alongside phosphorus, niobium, titanium and scandium, shaping up into an attractive mining proposition with positive metallurgy results and growth potential stretching beyond the Yin Ironstones as global powers make rare earth an imperative.

Dreadnought has its backing from the West Australian Government. Both organisations now look to the Gascoyne as a new region to stamp their authority in the critical minerals supply chain.

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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