Dreadnought (ASX:DRE) boost Yin 40%
July 5, 2023Dreadnought Resources increased its high-quality REE resource by a whopping 40 per cent at its Yin Ironstones discovery from within a wholly owned and largely untapped Mangaroon Project in the West Australian Gascoyne.
DRE’s site has some of the most impressive TREO ratios in the world, making it a highly sought-after resource. Surprisingly, only 10 percent of the Yin Ironstones have been explored so far in this year of discovery, and there are still numerous rare earth discoveries within Mangaroon that have yet to be included.
$0.013Dreadnought Managing Director Dean Tuck said the substantial increase on its initial resource paved the way for growth throughout the year.
“The upgraded independent Resource confirms Yin as a high-grade and high Resource intensity deposit. Both material factors in a project’s economics,” Mr Tuck said.
“Yin continues to demonstrate one of the highest NdPr:TREO ratios in the world. We are proud of how much has been achieved in such a short space of time and are looking forward to continuing to build on this later in 2023,” he added.
Room to grow
The Yin Ironstone Complex has already shown genuine scale potential. Dreadnought has an Exploration target in place for up to 100Mt and 1.3 per cent TREO for the top 150 metres of its ironstone discovery.
First pass RC drilling along another 16 kilometres of Yin is almost complete, and Dreadnought expect an ironstone resource update in December including higher NdPr:TREO discoveries at Y2 and Yin North and an increased indicated component to support plans for an initial Scoping Study.
The company is turning towards the prospect of mining at Mangaroon, with broad zones of flat to moderate dipping mineralisation in parallel lodes, a strong resource intensity, and positive metallurgy from easily processed monazite combining into an attractive proposition.
Rare earth ratios
Not all rare earths are created equal, and mineralisation at Yin contains a ratio of valuable NdPr over 50 per cent higher than the global average.
Another ratio critical to the sector is the sheer quantity produced by China, and the rare earth superpower has a history of weaponising supply chains. China has previously threatened cutting off rare earth exports to other nations and has already put bans on two metals vital to the semiconductor industry.
Newsflow
Discovery focused drilling is ongoing over the carbonatites at Mangaroon, and Dreadnought expect more assays from the C3 carbonatite this month, with an initial resource on track for August, and more metallurgical results to come in through the year before Yin’s December update.
The company also expects drilling to soon begin at Tarraji-Yampi, where exploration has yielded no less than 14 lookalikes of its high-grade Cu-Ag-Au-Co Orion prospect, with some even more robust than the high-grade Cu-Ag-Au-Co discovery which put Dreadnought on the map as an explorer to watch.
Dreadnought is seeing increasing levels of downstream interest in Mangaroon, and while its focus is locked on mining operations, it could potentially collaborate with other industry participants if a value opportunity arises.
Dreadnought’s Claudia Tomkins and Sam Busetti inspect pXRF results
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