Dreadnought (ASX:DRE) on the Money for massive Mangaroon sulphides

After early drilling struck a massive visual intercept at the Money Intrusion, Dreadnought Resources have now confirmed high-grade Ni-Cu-Co-PGE Massive Sulphides at the earn-in portion of Mangaroon project in the West Australian Gascoyne.

After early drilling struck a massive visual intercept at Money, Dreadnought Resources have now confirmed high-grade Ni-Cu-Co-PGE Massive Sulphides.

Confirmation of a fertile magmatic system has opened the door along the intrusion, and work has begun to reassess the entire 45 kilometres for multiple deposits and styles of high-grade mineralisation.

Dreadnought Managing Director Dean Tuck said that for the last two years, work programs at Money had focused on confirming the fertility, high tenor, and potential to form sulphide accumulations.

“This program has been a major leap forward confirming massive and semi-massive sulphides within thick halos of disseminated and net textured sulphides at a trap site within the Money Intrusion. These assay results have now confirmed observations and interpretations to date, further underscoring the potential of the Money Intrusion to host significant Ni-Cu-Co-PGE sulphide mineralisation,” Mr Tuck said.

Mr Tuck added that the program had two key outcomes.

“Firstly, that the Money Intrusion can form high tenor massive sulphides and that the search for additional trap sites is an imperative,” he said.

“Secondly, given the high tenor of mineralisation, massive sulphides are not required for high-grade mineralisation and geophysical techniques used to date need to be broadened.”

Forward plan

The return of thick, high tenor mineralisation including significant palladium, gold, and cobalt credits has demonstrated that massive sulphides are not required for high-grade mineralisation at Mangaroon and Dreadnought believe it may have missed some significant targets.

It has spurred a reassessment across the entire 45-kilometre Money Intrusion, with IP and DHEM surveys, geophysics and drilling all planned for 2023, and confirmation of a fertile magmatic Ni-Cu-PGE system has opened the door for multiple deposits and styles.

Mineralisation was intersected over 400 metres of strike and remains open in all directions, and results are due soon from the rest of the ten-hole RC program across both Bookathanna North and the High Range prospect.

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