Dreadnought Resources (ASX:DRE) unearths high-grade gold at Star of Mangaroon, Gascoyne Region

Australia’s Gascoyne Region is poised to reclaim its golden heritage as Dreadnought Resources (ASX:DRE) reveals a high-grade, shallow gold resource at the historic Star of Mangaroon site.

With 84% of the resource already in the Indicated category, this marks a pivotal step in revitalising a site that has largely lain dormant since its discovery in the mid-20th century.

The Highlights

• Resource Strength: A JORC-compliant resource of 56,600 tonnes at 12.8 g/t gold, yielding 23,300 ounces.
• High Metallurgical Recoveries: Test work demonstrates exceptional gravity and CIL recoveries of up to 99%.
• Self-Funded Strategy: Dreadnought aims to use this resource as a springboard for further exploration, reducing reliance on external funding.

“The Star of Mangaroon has delivered a high-grade resource that supports the prospects for commercialisation,” stated Dean Tuck, Managing Director of Dreadnought Resources. “High grades, near-surface ore, and excellent recoveries provide a strong foundation for our self-funded explorer strategy.”

Historical Significance

Discovered in 1956 by Allan McDonald, the Star of Mangaroon was once the Gascoyne’s leading gold producer.

Between 1960 and 1983, it yielded 7,464 ounces at an impressive 34.8 g/t, extracted predominantly from underground workings.

Since acquiring the site in 2022, Dreadnought has drilled 47 RC and six diamond holes, unearthing mineralisation within 110 metres of the surface.

Despite the site’s rich history, large swathes remain unexplored at depth and along strike—a tantalising prospect for future development.

A New Approach

Rather than traditional mining, Dreadnought plans to outsource development, haulage, and processing, a strategy increasingly popular in Western Australia.

This approach allows for minimal capital outlay, ensuring cash flow can fuel exploration of nearby targets like Popeye and Pritchard Well.

“This resource is a game-changer,” noted one analyst. “It’s not just about the gold in the ground but the innovative approach to extracting value while building exploration momentum.”

Looking Ahead

The next 12 months are pivotal. A scoping study for an open-pit operation is due in Q1 2025, with commercial agreements targeted for mid-year.

By late 2025, the Star of Mangaroon could transition into production, paving the way for discoveries that could redefine the Gascoyne as a gold hub.

Why It Matters

The Star of Mangaroon is not just another gold deposit; it represents a shift in how junior miners operate—leveraging high-grade resources to fuel broader ambitions.

For investors and stakeholders, it’s a reminder that in the world of gold exploration, the story often lies as much in strategy as in grade.

As Dreadnought continues to unearth the secrets of this historic site, the question isn’t whether the Gascoyne will shine again but how brightly.

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