- Dreadnought Resources (DRE) hits its third set of nickel-copper sulphides in drilling in under a month
- The company has wound up its REE campaign for 2023 and is now looking at critical minerals
- Cobalt was also found; all three metals are required in the EV battery market space
- Dreadnought’s overall goal is to firm up projects to then sell to larger majors
- Shares last traded at 5.6 cents
Dreadnought Resources (DRE) has confirmed high-grade nickel-copper-cobalt-PGE sulphide mineralisation through recent drilling at its Mangaroon project in Western Australia.
The company recently completed a 1074-metre reverse circulation (RC) drilling campaign at its Bookathanna North and Money Intrusion targets, revealing visual sulphides along a 400-metre strike.
Notably, Bookathanna North, situated two kilometres away from the Bookathanna target, also exhibits sulphide mineralisation, as does its parent target. This suggests the possibility of additional mineralisation within the two-kilometre stretch between these two points.
The initial drill hole at Bookathanna North intersected a 23-metre thick section of high-grade nickel-copper-cobalt sulphides—metals crucial to the rapidly expanding EV battery market supply chain.
A follow-up drill hole also confirmed a 27-metre sulphide intersection. The company is now embarking on a comprehensive reassessment of its understanding of the Money Intrusion target.
“There are two key outcomes from this program. Firstly, that the Money Intrusion can form high tenor massive sulphides and that the search for additional trap sites is an imperative,” DRE Managing Director Dean Tuck said.
“Secondly, given the high tenor of mineralisation, massive sulphides are not required for high-grade mineralisation and geophysical techniques used to date need to be broadened.
“These assay results have now confirmed observations and interpretations to date, further underscoring the potential of the Money Intrusion to host significant Ni-Cu-Co-PGE sulphide mineralisation.”
The company’s share price surged back in late August when it announced a nickel-copper sulphide drill hit at the Gascoyne-based Mangaroon project, specifically from the Bookathanna North target. Dreadnought then hit a second round of mineralisation weeks later.
The Mangaroon Shear Zone on-site remains of key interest, with geotechs identifying seven new target zones along the formation earlier this month.
DRE shares last traded at 5.6 cents.