- Dreadnought Resources (DRE) receives assays for 59 holes recently drilled at the Yin Ironstone Complex in Western Australia
- The company logged a fresh batch of high-grade rare earths hits
- Key results include a 65-metre thick section at 1.85 per cent TREO comprised of 26 per cent high-value magnet rare earths
- A 36-metre thick section at 2.75 per cent TREO was also logged
- Shares last traded at 4.6 cents
Dreadnought Resources (DRE) has announced the receipt of assay results from a recent drilling campaign at the Yin target within its Mangaroon project in Western Australia.
The campaign involved infill drilling, resulting in the discovery of fresh, high-grade rare earth intercepts.
Fifty-nine drillholes were deployed across the Yin Ironstone Complex, consistently revealing valuable neodymium and praseodymium (NdPr) magnetic rare earths at shallow depths, starting from just three meters.
The company highlighted a number of thick intersections, leading with a 36-metre thick section grading at 2.75 per cent total rare earth oxides (TREO) and comprised of 31 per cent NdPr.
This finding, obtained at a mere three meters’ depth, suggests favourable conditions for reproducing near-surface mineralisation discoveries at Yin.
Within that 36-metre zone, a 12-metre section exhibited a higher grade of six per cent TREO.
Additional notable results from Dreadnought include a 28-metre thick section grading at 2.6 per cent TREO (31 per cent NdPr), a 65-metre segment at 1.85 per cent TREO (25 per cent NdPr) from a depth of 46 metres, and a 48-metre section at 1.5 per cent TREO (29 per cent NdPr) from 27 metre’s depth.
Furthermore, extensional drilling at the Y2 target and a northern target adjacent to Yin have yielded positive NdPr readings.
The company is continuing to conduct first-pass wide-spaced reverse circulation (RC) drilling at the C1-C5 carbonatite targets, separate from Yin, but also proven to contain rare earth mineralisation.
All drill-related activities and assay outcomes will contribute to an upcoming mineral resource update scheduled for December 2023. Additionally, the C3 carbonatite target is anticipated to receive its initial mineral resource assessment this month.
“High-grade NdPr or ‘payable’ results underscore the global significance of Yin … the addition of high NdPr mineralisation north of the current Yin resource remains highly encouraging as we look to include that material in our next resource update,” DRE Managing Director Dean Tuck said.
“With resource drilling nearly complete, we have returned to the C1-C5 carbonatites in search of further zones of high-grade rare earths and niobium and we look forward to additional discoveries within this highly prospective and fertile intrusive complex.”
Dreadnought shares last traded at 4.6 cents.