- Dreadnought Resources (DRE) receives the first batch of assays from wide-spaced drilling at its Yin prospect within its Mangaroon project in the Gascoyne Region of Western Australia
- Assays extend the thick mineralisation one kilometre south from DRE’s three-kilometre-long Yin resource, with three additional ironstones producing the highest TREO ratios to date of up to 46 per cent
- DRE says the new ironstones and its Yin extensions underpin future resource upgrades in the December 2023 quarter to support an initial scoping study
- Dreadnought plans to continues drilling across Yin ironstones and its C1-C7 carbonatites
- DRE shares are down 5.56 per cent, trading at 5.1 cents at market close
Dreadnought Resources (DRE) has received the first batch of assays from wide-spaced drilling at its Yin prospect, part of the company’s Mangaroon project in the Gascoyne Region of Western Australia (WA).
Assays confirmed thick mineralisation extends the one-kilometre anomaly south of the initially discovered three-kilometre-long Yin Resource.
Results include 20 metres of 2.15 per cent TREO and 4.9 kilograms per tonne of neodymium oxide and praseodymium oxide from 67 metres.
Furthermore, results from the first pass, wide-spaced drilling confirmed three additional ironstones at Y2 and north of the Yin Resource, which produced the highest total rare earth oxide (TREO) ratios identified to date of up to 46 per cent.
The company announced these new ironstones and its Yin extensions underpin future resource upgrades in the December 2023 quarter, including a significant indicated resource to support an initial scoping study.
“The dam has finally burst on assays with steady news flow now ongoing through 2023,” Dreadnought Managing Director Dean Tuck said.
“We look forward to expanding the Resource base with significant news flow throughout 2023.”
Dreadnought is planning to continue with first-pass wide-spaced drilling across Yin ironstones and its identified C1-C7 Carbonatites, with infill resource drilling due to commence this month.
The company is awaiting the results of more than 6000 samples, anticipated to be received on an ongoing basis throughout 2023.
Dreadnought reported it remains on track to update its Yin ironstone resource throughout June and July, and in the December 2023 quarter.
DRE shares were down 5.56 per cent, trading at 5.1 cents at market close.