- West Australian explorer Dreadnought Resources (DRE) has found four new earth element (REE) ironstones at its Mangaroon Project
- The ironstones were found in the Yin REE camp and expands the area to around 11 kilometres
- A detailed airborne magnetic and radiometric survey will commence later this month
- This survey will assist in identifying new ironstone occurrences and help design drilling programs
- Dreadnought is trading up 5.26 per cent at 4 cents per share at 10:33 am AEST
Dreadnought Resources (DRE) has discovered four new rare earth element (REE) ironstones at its Mangaroon Project in the Gascoyn Region of WA.
The company received assays from rock chips that confirmed the four REE ironstones at the Yin REE camp.
This significantly expands the strike of the emerging Yin REE camp to around 11 kilometres.
The Yin REE camp is about five kilometres southwest of the Yangibana REE project, which is currently under development by Hastings Technology Metals (HAS).
Results from the rock chip samples include 5.65 per cent total rare earth oxide, including 1.61 per cent neodymium and praseodymium.
A detailed airborne magnetic and radiometric survey will commence later this month and is expected to highlight additional anomalies and allow for mapping under shallow cover to trace ironstones.
This survey will help in identifying new ironstone occurrences and for the design of drill programs, expected to commence in the March 2022 quarter.
Managing Director Dean Tuck is pleased with the find and labelled it as an “exciting development”.
“We are excited for the results of the planned magnetic-radiometric survey to assist in further target generation ahead of resource and discovery drilling in the March 2022 quarter,” he said.
“In the interim, the upcoming Kimberley program remains on schedule with field crews mobilising to site in mid-September 2021.”
Dreadnought was trading up 5.26 per cent at 4 cents per share at 10:33 am AEST.