- Dreadnought Resources (DRE) has been awarded a $125,000 Exploration Incentive Scheme grant to co-fund drilling at Chianti-Rufina
- Chianti-Rufina is part of the Tarraji-Yampi Project which is located 85 kilometres from Derby in Western Australia
- Chianti-Rufina was first defined in 1972 and is prospective for magnetic anomalies and soil anomalies
- Dreadnought also has another EIS co-funded grant of $125,000 for its Illaara Gold-VMS Project
- Company shares are up a steady 16.7 per cent and are currently trading for 0.7 cents each
Dreadnought Resources (DRE) has been awarded a $125,000 EIS (Exploration Incentive Scheme) grant to co-fund drilling at Chianti-Rufina.
Chianti-Rufina is part of the Tarraji-Yampi Project which is located 85 kilometres from Derby in Western Australia.
Three types of mineralisation occur at the project, volcanogenic massive sulphide (VMS), Proterozoic copper-gold (IOCG), and magmatic sulphide nickel-copper-PGE (platinum group element).
Multiple high priority nickel, copper, and gold targets have been identified via VTEM (versatile time domain electromagnetic) surveys, surface sampling, and historical drilling.
Chianti-Rufina was defined in 1972 by Australian Consolidated Minerals, and since Dreadnought acquired the project in 2019, a fixed loop electromagnetic survey (FLEM) has been completed.
This FLEM survey identified two strong EM targets which were drilled in late 2019 and intersected highly magnetic massive sulphide mineralisation.
Seven FLEM targets have now been identified, each associated with outcropping gossans, magnetic anomalies, and soil anomalies.
These targets will be drilled once restrictions to enter the Kimberly are lifted and permits are finalised.
This grant is managed by the Geological Survey and Resource Strategy Division of the Department of Mines, Industry Regulation and Safety to revitalise exploration.
Dreadnought also has another EIS co-funded grant of $125,000 for its Illaara Gold-VMS Project.
Company shares are up a steady 16.7 per cent and are trading for 0.7 cents each at 3:25 pm AEST.