- Dreadnought Resources (DRE) receives two drilling grants worth a combined $440,000 for its Mangaroon and Tarraji-Yampi projects in Western Australia
- The co-funded grants were awarded under the WA Government’s Exploration Incentive Scheme (EIS)
- At DRE’s Mangaroon project, up to $220,000 will go toward drilling the Yin REE ironstone complex at depth, with diamond drilling to commence in July 2023
- At the Tarraji-Yampi project, the remaining $220,000 will go towards drilling at the Orion massive sulphide deposit, with diamond drilling to begin in October 2023
- Shares in DRE are down 4.62 per cent and trading at 6.2 cents at 10:39 am AEST
Dreadnought Resouces (DRE) has been awarded two drilling grants worth up to $440,000 for efforts at its Mangaroon and Tarraji-Yampi projects in Western Australia.
The two co-funded grants were received under the Western Australian Government’s Exploration Incentive Scheme (EIS).
With 74 applications in total, Dreadnought was one of 36 successful applicants.
Dreadnought Managing Director Dean Tuck said the company was “delighted” to receive the two drilling grants.
“The program is highly competitive, and the awarding of these grants further recognises the technical merits of the Mangaroon REE and Tarraji-Yampi Orion discoveries,” he said.
“A previous EIS grant helped with the Mangaroon REE discovery, and we are again thankful to the Geological Survey and the State of Western Australia for continuing to support explorers in our pursuit of discovery.”
The EIS funding is managed by the Geological Survey and Resource Strategy Division of the Department of Mines, Industry Regulation and Safety (DMIRS).
At the company’s Mangaroon REE project, the grant of up to $220,000 will go toward drilling the Yin REE Ironstone Complex at depth, with diamond drilling to commence in July 2023.
At its Tarraji-Yampi copper-gold-silver-cobalt project, the grant of up to $220,000 will go toward drilling the Orion massive sulphide deposit at depth, with diamond drilling to begin in October 2023.
Shares in DRE were down 4.62 per cent and trading at 6.2 cents at 10:39 am AEST.