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- Dreadnought Resources (ASX:DRE) uncovers three new areas containing REE mineralisation along the 17-kilometre Gifford Creek Carbonatite
- The company carried out first pass, wide-spaced RC drilling, which intercepted up to 1.24 per cent TREO across 24 metres from 60 metres
- Other critical minerals, such as high-grade niobium, phosphate and scandium were found, and less than 25 per cent of the carbonatite has now been explored
- In 2024, Dreadnought will RC drill these high-priority areas using co-funding support from the Geological Survey of Western Australia’s Exploration Incentive Scheme
- DRE shares are up 1.54 per cent, trading at 3.3 cents at 11:17 am AEDT
Dreadnought Resources (ASX:DRE) has discovered three new areas containing rare earth (REE) mineralisation along the 17-kilometre Gifford Creek Carbonatite.
This significant find is part of the company’s Mangaroon project in Western Australia.
First-pass, wide-spaced reverse circulation (RC) drilling of the Carbonatite yielded results including up to 1.24 per cent total rare earth oxides (TREO) across 24 metres from 60 metres depth. Notably, 25 per cent of the mineralisation within this high-grade zone comprised praseodymium and neodymium, valuable permanent magnets.
Furthermore, Dreadnought unearthed other critical minerals, including high-grade niobium, phosphate, and scandium.
These discoveries add further value to the project’s overall potential. Despite exploring only four zones, which represent less than 25 per cent of the Carbonatite intrusion, the results are already promising.
“With four zones of mineralisation already identified and only ~25% of the intrusion tested by wide-spaced, first-pass drilling we remain confident of the potential for a significant, high-grade discovery,” DRE Managing Director Dean Tuck said.
“Through detailed surveys and our knowledge of the current resource, we have “fingerprinted” potentially high-grade zones.”
In 2024, Dreadnought plans to RC drill these high-priority areas with co-funding support from the Geological Survey of Western Australia’s (GSWA) Exploration Incentive Scheme.
DRE shares were up 1.54 per cent, trading at 3.3 cents at 11:17 am AEDT.
