Dreadnought (ASX:DRE) set for Bresnahan consolidation
Dreadnought Resources is set to fully acquire two small tenements to fill a gap in its large Bresnahan territory and consolidate its heavy rare earth-focused project up to 4700 prospective square kilometres in the Ashburton Region of Western Australia.
Early reconnaissance sampling produced results with notable levels of light and heavy rare earths, a good-looking NdPr to TREO ratio and more importantly, associated pathfinder elements similar to the unconformity deposits at Browns Range.
The Northern Minerals-owned collection of deposits at Browns Range represents one of the largest and easily processed xenotime deposits outside of Chinese borders, holding uncommonly large proportions of the high-value heavy end of the rare earth suite.
Dreadnought also consider Bresnahan’s prospectivity for gold, silver, and tin to be similar to the Paulsens Gold Operation which sits along strike and once formed the foundation of Northern Star Resources and its $11.8 billion market cap.
While the 20 square kilometres of new territory looks small on paper, Dreadnought Managing Director Dean Tuck said the acquisition would close a significant gap in its tenement position.
“We already have a dominant position in the region and we see these tenements as important to our short and long term strategy for Bresnahan. We will be including existing and future targets on the tenements into our existing work programs in the region,” Mr Tuck said.
There has been limited exploration at Bresnahan for anything but uranium, and Dreadnought consider its consolidated territory to be a significant first mover opportunity to explore for heavy rare earths and mesothermal gold.
Dreadnought have a full calendar running through to its Yin resource update at the end of the year and will have the next results out of Bresnahan next month after completing target generation and definition work at its consolidated asset.
Plan view geology map
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