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Heading into Q2 of the calendar year, Dreadnought Resources (ASX:DRE) has reverted back to 100% ownership of its Mangaroon nickel copper play.
This follows First Quantum Minerals (FQM) pulling out of the project “as it seeks to direct cashflow toward major projects associated with its operations.”
Dreadnought chief Dean Tuck thanked FQM for assisting the microcap ramp-up the development timeline on-site.
“We would like to acknowledge the good working relationship we have enjoyed with First Quantum Minerals,” Tuck said.
“Notwithstanding our success to date, there remains a substantial amount of unfinished business along the ~45km long mineralised Money Intrusion.
“We have barely touched targets at High Range, Lumpy’s, Lumpy’s South and the Money Intrusion South. Sulphide Ni-Cu discoveries are rare, and we expect to build on the success to date with another well-credentialed party.”
Across its tenure FQM assisted in finding 2km of outcrop target part of the larger 45km long ‘Money intrusion,’ and electromag studies along a 24km section.
RC drillers also hit nickel in 18 of 28 holes sunk on-site in an October 2023 exploration run.
Dreadnought shares last at 1.8c.
