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- Dreadnought Resources (DRE) defines five strong electromagnetic conductors within the Money intrusion at its Mangaroon project in WA
- The conductors were uncovered via a fixed loop EM survey and show potential for high grade mineralisation
- Two of the five conductors found at the Bookathanna North target were significantly higher than the conductors tested in the 2022 drill program
- Follow up drilling of the conductors is slated for July
- DRE shares were last trading at 6.1 cents at 4:55 pm AEDT
Dreadnought Resources (DRE) has uncovered positive geophysical results at the Money intrusion within its Mangaroon project in the Gascoyne region of Western Australia.
The company received geophysical results from a recently completed fixed loop electromagnetic (FLEM) survey over the area.
The survey defined five strong electromagnetic (EM) conductors, which the company said are consistent with high tenor, massive and net textured sulphide bodies, showing potential for high grade mineralisation.
Of note were two conductors at the Bookathanna North target which were significantly higher than conductors tested in the 2022 drill program.
The conductors are interpreted to represent a massive sulphide accumulation in a shallow keel position.
The company said the confirmation of a fertile magmatic nickel, copper, platinum group elements system within the intrusion highlights the potential for multiple deposits.
“Our second FLEM survey, which incorporated our learnings from the initial drilling program, has been a resounding success defining five conductive bodies at two targets with significantly higher conductance than the targets drilled in 2022,” Dreadnought’s Managing Director, Dean Tuck said.
The survey was funded by First Quantum Minerals Ltd, which is earning up to 70 per cent of the project.
First Quantum has now committed to a 1000 metre reverse circulation program over all five conductors, with all drill holes to be surveyed to test the intrusion at depth.
The drilling program is expected to kick off in July 2023.
DRE shares last traded at 6.1 cents at 4:55 pm AEDT.
