Dreadnought (ASX:DRE) going deep in WA
Dreadnought Resources has banked $440,000 to advance drilling exploration to expand on last year’s exciting rare earth discovery and other promising exploration at its Mangaroon Projects, covering 5,300 square kilometres of vastly underexplored dirt in Western Australia’s Gascoyne Region.
Exploration Incentive Schemeco-funding courtesy of the WA government will help pay to explore further last year’s high profile Yin rare earth discovery with deep diamond drilling aiming to catapult the existing 14.36Mt @ 1.13% TREO resource to be on the higher side of between 50,000 to 100,000-tonnes.
Dreadnought Managing Director Dean Tuck said the project’s technical merits had been recognised.
“A previous EIS grant helped with the Mangaroon REE discovery, and we are again thankful to the Geological Survey and the State of Western Australia for continuing to support explorers in our pursuit of discovery,” Mr Tuck said.
The money will also come in handy to further explore Orion. This Cu-Ag-Au-Co-Zn massive sulphide system has returned numerous significant intercepts from a Tarraji-Yampi Project.
The site has returned no less than nine more look-alike targets considered to be as good or better, and co-funded holes will test beyond the limits of the electromagnetic survey, which modelled the anomaly to extend beyond 400 metres of strike and to 500 metres at depth.
The company has a heady news flow coming in, the initial resource from its Metzes Find gold project, alongside more assays from Yin, is coming this month, and May will bring results of a nickel review with Newexco and metallurgical results from its ironstone discovery.
$0.017
DREDNOUGHT FPO [DRE]