- Dreadnought Resources (DRE) announces a mineral resource boost of 40 per cent at its rare earths Yin-Mangaroon project in Western Australia
- The increase of more than 20 million tonnes of ore was made to the indicated and inferred category
- DRE MD Dean Tuck says since hitting the ground at Mangaroon in June 2022, the company is proud of the work its achieved in such a short space of time
- First pass drilling at the site is almost complete with further updates expected in the weeks and months ahead
- Shares in DRE are up almost 10 per cent, trading at 5.7 cents at midday AEST
Dreadnought Resources (DRE) has announced a mineral resource boost of 40 per cent at its rare earths Yin-Mangaroon project in Western Australia.
The increase of more than 20 million tonnes of ore was made to the indicated and inferred category.
DRE Managing Director Dean Tuck said since hitting the ground at Mangaroon in June 2022, the company has been proud of the work its achieved in such a short space of time.
“Since drilling commenced in June 2022, Dreadnought has delivered a substantial increase in the initial resource over just four kilometres of Yin paving the way for further resource growth later in 2023,” he said.
“The upgraded independent resource confirms Yin as a high-grade and high resource intensity deposit.
Grades start at a floor of 0.20 per cent total rare earth oxides (TREO), a fairly strong base for low grades given that concentrations rarely climb over 1 per cent.
The existing resource covers just 10 per cent of the entire Yin rare earths ironstone complex, which at its widest length boasts some 43 kilometres of potential strike.
First pass drilling at the site is almost complete with further updates expected in the weeks and months ahead.
Shares in DRE were up almost 10 per cent, trading at 5.7 cents at midday AEST.