Dreadnought Resources (ASX:DRE) strikes bonanza gold at Star of Mangaroon

Dreadnought Resources (ASX:DRE) has again lit up the exploration map in the Gascoyne, with drilling at the aptly named Star of Mangaroon yielding some of the richest gold assays seen in recent WA campaigns.

Highlights

• 7m @ 46.7 g/t Au from 27m, including 2m @ 103.8 g/t Au (hole SOMRC073).

• 12m @ 20.6 g/t Au from 3m, including 2m @ 112.9 g/t Au (hole SOMRC078).

• 3m @ 65.1 g/t Au from 93m, including 1m @ 162.8 g/t Au (hole SOMRC077).

• Resource currently sits at 23,300oz @ 12.8 g/t Au, with assays from 14 more holes still pending.

Infill Pays Off

The company’s 41-hole infill program has pulled together thick, shallow and high-grade results that are expected to materially boost the existing 23,300-ounce resource.

Crucially, mineralisation has been confirmed in areas previously thought mined out, while the system remains open to the north and at depth.

An upgraded resource and mine plan are flagged for later this quarter, alongside fresh drilling at both Star of Mangaroon and nearby prospects such as Steve’s Reward and Lesgo.

Strategy and Outlook

The Mangaroon project covers a vast 5,000km² and is being advanced under Dreadnought’s “self-funded explorer” model.

By outsourcing haulage and processing, management intends to transition into cashflow without the dilutive burden of equity raisings. This is a model that has worked for other WA juniors in a buoyant gold price environment.

The exceptional grades are complemented by strong metallurgy, with earlier testwork delivering gold recoveries averaging nearly 97 per cent.

This combination of high head grades and robust processing metrics positions Star of Mangaroon as more than a mere small-scale dig.

Management View

Dreadnought Resources Managing Director, Dean Tuck, summed up the sentiment:

“Infill drilling has delivered stand-out results from the Star of Mangaroon. These results are expected to positively impact on the current resource, mine plan and project economics. Drilling is set to commence in early September and will involve additional holes at the Star of Mangaroon as well as follow-up work on nearby prospects.”

The Bigger Picture

With five historical mines scattered across the shear zone and dozens of gold occurrences yet to be properly tested, Mangaroon has the makings of a modern camp-scale field.

Dreadnought’s willingness to deploy contemporary geophysics and geochemistry across areas neglected by the patchwork ownership of the past is already paying dividends.

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