- Dreadnought Resources (DRE) has intersected thick, shallow gold mineralisation at the Rocky Dam Gold-VMS Project in WA
- Results come from a maiden reverse circulation drilling program that was completed at CRA-North
- The aim of this drilling was to target a gold-in-soil anomaly and confirm the orientation of the mineralisation
- Thick, near-surface oxide gold mineralisation was intersected, grading up to 1.7 grams per tonne of gold
- Dreadnought has dropped 12.5 per cent in mid-morning trade and shares are currently selling for 0.7 cents each
Dreadnought Resources (DRE) has intersected thick, shallow gold mineralisation at the Rocky Dam Gold-VMS Project.
Rocky Dam is located 45 kilometres east of Kalgoorlie in the Eastern Goldfields Superterrane of Western Australia.
The project is prospective for gold deposits and copper-zinc volcanic massive sulphide (VMS) mineralisation.
Today’s results come from a maiden reverse circulation (RC) drilling program that was completed at CRA-North.
This drilling aimed to target a gold-in-soil anomaly located between felsic volcanics and sediments, as well as confirm the orientation of the mineralisation.
A total of seven holes, for 1212 metres, were drilled along a strike length of 300 metres.
Thick, near-surface oxide gold mineralisation was intersected, associated with quartz veining.
Significant results include 45 metres at 0.6 grams per tonne of gold including 9 metres at 1.7 grams per tonne of gold from 18 metres, and 40 metres at 0.2 grams per tonne gold from 19 metres.
Follow-up drilling will now be carried out to drill beneath the mineralisation and target new areas.
“Our maiden drill results at CRA-North are highly encouraging with good widths and reasonable grades,” Dreadnought Managing Director Dean Tuck said.
“The bedrock mineralisation and potentially higher grades are interpreted to sit to the west and at depth beneath the recent mineralisation,” he said.
“The thick shallow oxide mineralisation combined with 300 metres of strike and proximity to Kalgoorlie makes CRA-North an attractive target for further drilling as soon as logistically possible,” he added.
Dreadnought has dropped 12.5 per cent in mid-morning trade and shares are selling for 0.7 cents each at 11.15 am AEST.