Join our daily newsletter At The Bell to receive exclusive market insights
Exploration work conducted last year by Dreadnought Resources (ASX:DRE) at its Tarraji-Yampi project in Western Australia – which hosts copper, gold, silver and cobalt – has extended mineralisation of the company’s Orion deposit in particular, despite holdups due to bad weather, bush fires and rig breakdowns.
Dreadnought received results from 11 reverse circulation (RC) holes to 1,289 metres, together with two diamond holes which went to 530.3m which were drilled last year, and these provided the company with a stronger understanding of the mineralisation present at Orion.
Most crucial to extending mineralisation – in this case to 100 metres – were the two diamond holes, with intersections of laminated, brecciated and semi-massive sulphides revealed. Intercepts includ 4.20 metres at 1.0 percent copper, 15.1 grams per tonne gold, and 0.01 percent cobalt from 213m at one hole, and 1.35m at1.0 percent copper and 0.01 percent cobalt from 198.6m.
The diamond drilling was co-funded by the Exploration Incentive Scheme (EIS) run by the Geological Survey of Western Australia (GSWA).
However, due to the operational challenges, Dreadnought was not able to complete its objectives of proving the scale potential of Tarraji-Yampi’s mineralisation and testing Orion’s depth parameters.
Managing director Dean Tuck said he was still pleased with what the company had achieved during the exploration work.
“The 2023 drilling program in the Kimberley was challenging and cut short due to unseasonable weather, bush fires and rig breakdowns,” he said.
“However, the program still delivered an extension to the Orion mineralisation and confirming mineralisation and or identifying significant off hole conductors from many of the holes drilled.
“And, thanks to the GSWA’s co-funded Exploration Incentive Scheme diamond holes drilled at Orion, there has been significant advancements in the understanding of the mineral systems active at Tarraji-Yampi including that Orion is a copper-gold-volcanogenic massive sulphide (VMS) system, similar to Degrussa in the Bryah Basin, which will improve our targeting and follow up programs.”
Dreadnought is trading at 2c.
