Dreadnought Resources (ASX:DRE) defines initial gold resource at Metzke’s Find deposit, WA

• Dreadnought (DRE) defines an independent indicated and inferred mineral resource estimate (MRE) for its Metzke’s Find gold deposit of 14,900 ounces at 6.8 grams per tonne (g/t) gold
• Of this resource, 10,700 ounces of gold fall under the ‘indicated’ category and 4200 under the ‘inferred’ category
• DRE Managing Director Dean Tuck says the Metzke’s Find MRE represents the first-ever resource over any part of the Central Yilgarn project
• The company says the initial high-grade, near-surface MRE forms a starting point for additional discoveries and further growth across the Central Yilgarn project
• DRE shares are trading at 6.2 cents at 11:46 am AEST

Dreadnought (DRE) has defined an initial indicated and inferred mineral resource estimate (MRE) for its Metzke’s Find gold deposit within its Central Yilgarn Project in WA.

The deposit’s resource sits at 68,400 tonnes at 6.8 grams per tonne (g/t) gold for 14,900 ounces of gold.

Of this resource, 10,700 ounces of gold fall under the ‘indicated’ category and 4200 under the ‘inferred’ category

DRE noted that mineralisation at Metzke’s Find deposit occurred at or near the surface.

The company’s MRE is based on reverse circulation and diamond drilling conducted since the company purchased the project in 2020, targeting workings and results from sparse historic drilling.

The mineralisation in the area remains open at depth and dips to the north.

DRE Managing Director Dean Tuck said the Metzke’s Find MRE represented the first-ever resource declared over any part of the Central Yilgarn project, which covers four greenstone belts.

“The initial shallow and high-grade resource over Metzke’s Find is a solid foundation for future discoveries and growth within the widely unexplored Central Yilgarn project,” Mr Tuck said.

“We continue to view Central Yilgarn as having significant potential for gold and nickel which will be progressed in the background while we continue to focus on rare earths at
Mangaroon.”

The company said the initial high-grade, near-surface MRE at Metzke’s Find formed a starting point for additional discoveries and further growth across the Central Yilgarn project.

Following the consolidation of the Central Yilgarn Project in late 2022, a detailed review nears completion, which outlines a renewed focus on nickel and gold across the Illaara, Yerilgee, Evanston and South Elvire greenstone belts in 2023.

The gold and nickel potential of the wider Central Yilgarn project is currently under review, with further gold and nickel-focused explorations set to commence throughout 2023.

DRE shares are trading at 6.2 cents at 11:46 am AEST.