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- Dreadnought Resources (DRE) announces new “thick, near-surface” rare earth element assay results from recent drilling work at its Mangaroon project in WA
- The results come from the remaining 66 holes of an 89-hole program completed at the C1-C5 carbonatites in late-2022
- The top results include 0.57 per cent total rare earth oxides (TREO) over a 195-metre interval from just six metres deep
- DRE will now complete a 24-hole resource infill reverse circulation (RC) drilling program at the C3 area as it works to finish its planned 260-hole program
- DRE shares are up 6.25 per cent and trading at 6.8 cents at 12:29 pm AEST
Dreadnought Resources (DRE) has announced new “thick, near-surface” rare earth element assay results from recent drilling work at its Mangaroon project in WA.
The results come from the remaining 66 holes of an 89-hole program completed at the C1-C5 carbonatites. The drill program began at the end of the 2022 season and continues to expose large-scale rare earth element (REE) mineralisation in the area.
DRE said assays had defined an “outstanding” 600-metre by 550-metre zone of REE mineralisation at the C3 discovery, which remains open.
C3 is now subject to a 24-hole resource infill reverse circulation (RC) drilling program, with seven infill holes already completed, having struck broad zones of multi-metals.
New assay results include 0.57 per cent total rare earth oxides (TREO) over a 195-metre interval from just six metres deep, including 24 metres at 1.26 per cent TREO. The company also struck 114 metres at 0,56 per cent TREO from nine metres, including a 10-metre intersection at 0.92 per cent TREO.
DRE Managing Director Dean Tuck said the carbonatites at Mangaroon continued to deliver “significant” REE mineralisation.
“Despite only completing roughly a third of the planned first pass drilling, the large scale of the critical metal opportunity at Mangaroon is already apparent,” Mr Tuck said.
He said the company had two rigs on site to recommence its unfinished first-pass drilling.
Dreadnought also had a diamond rig spinning at the Yin resource and the C3-C4 carbonatites for quality assurance and quality control drilling.
The current Yin ironstone complex estimated resource of 14.36 million tonnes at 1.13 per cent TREO only covers three kilometres of the 43-kilometre strike length and is based on just 2.5 months of RC drilling.
DRE shares were up 6.25 per cent and trading at 6.8 cents at 12:29 pm AEST.
