- Dreadnought Resources (DRE) identifies new REE-hosting ironstones on-site at its Mangaroon project in Western Australia
- The company’s latest RC drill run returned at least one result below 100 metres in depth, showing more than 6kg/t of high-value REEs
- The company is progressing towards a December 2023 resource upgrade
- That upgrade will inform a subsequent scoping study for the project
- Dreadnought shares last traded at 5.1 cents
Dreadnought Resources (DRE) has announced the conclusion of its latest reverse circulation (RC) drill run across some 18 kilometres of its 43-kilometre-long Yin trend prospective for rare earth elements (REEs).
The results come from the company’s Mangaroon project, located in the Gascoyne Region of Western Australia.
Dreadnought has now identified 16 kilometres of mineralised ironstones with eye-catching REE results logged.
The company reported one 24-metre-wide intersection at 1.14 per cent total rare earth oxides (TREO) – reflecting 2.3kg/t of high-value rare earths neodymium and praseodymium (NdPr).
Within that 24-metre section was a five-metre wide pocket at 4.2kg/t of neodymium and praseodymium.
The company also hit a smaller brief pocket within a larger result of two metres at 3.6 per cent TREO, equalling 6.4kg/t neodymium and praseodymium at 68 metres depth.
Dreadnought will now conduct infill drilling to further understand its 16-kilometre REE-proven zone ahead of a resource update due by December 2023.
This will then allow the company to publish an initial scoping study.
RC drilling continues to take place at the C1-C5 carbonatite targets on-site, and the company has confirmed that all targets extend over an additional three-kilometre area not previously known to the company.
“Over the past month we have completed the infill drilling for the December 2023 resource update for Yin,” DRE Managing Director Dean Tuck said.
“Drilling at C1-C5 has now extended the carbonatites to nine-kilometre by one kilometre and is ongoing.”
Since it first discovered the best rare-earth drilling intercepts in 35 years at its Yin ironstone complex, Dreadnought has minted two JORC resources of more than 20 million tonnes.
The company has also published an exploration target of up to 100 million tonnes along a 43-kilometre trend; logged three REE targets at Sabre, Y8 and Y2 – and further logged niobium targets at the C3 and C5 carbonatite targets.
Dreadnought Resources shares last traded at 5.1 cents.