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Dreadnought Resources (ASX: DRE) – a multi-metal explorer with a suite of projects across Western Australia – has begun its first focused campaign of drilling on four high priority gold targets at its Central Yilgarn project.
Earlier exploration by Dreadnought on the targets in question – Viper, Leghorn, Chicken Little and Honey – has revealed intercepts such as 15 metres at 1.5grams per tonne gold from 12 metres, including 3 metres at 6.7grams per tonne from 12 metres (Viper) and 48 metres at 0.7 grams per tonne gold from 27 metres including 21 metres at 1.3 grams per tonne from 54 metres (Leghorn).
Honey is a somewhat different proposition, being a shallow historical working with mineralisation similar to Maximus Resources’ Wattle Dam deposit near Kambalda.
The exploration work will include 15 holes and 1,800 metres of drilling, with results to be reported in June.
Dreadnought managing director Dean Tuck said a recent boost to the gold price meant the company was well positioned to be defining its project’s mineralisation now.
“We are excited to commence drilling at Central Yilgarn, in particular, testing our compelling targets at Viper, Leghorn, Chicken Little and Honey,” he said.
“This program is the first of several targeting high-grade gold opportunities within our portfolio.
“Our strategy of consolidating high-quality gold opportunities in a time of subdued gold prices is lining up perfectly with the gold price recently reaching all-time highs. We look forward to the results of this program in June 2024.”
Dreadnought was up almost 6 per cent trading just under 2c in early trade.
