Join our daily newsletter At The Bell to receive exclusive market insights
- Dreadnought Resources (DRE) reports further “significant” rare earth element hits from reverse circulation (RC) drilling at its Mangaroon project in WA
- The company says the results, which come from the Yin ironstone complex in the area, have high ratios of neodymium and praseodymium to total rare earth oxides
- Dreadnought plans to use these results to update the mineral resource of the Yin ironstone complex of 14.36 million tonnes at 1.13 per cent TREO
- Looking ahead, DRE plans to continue its exploration work in the area, with a new RC rig and diamond rig scheduled to arrive at the site before the end of March
- Shares in Dreadnought Resources were down 4.41 per cent to 6.5 cents at 10:30 am AEDT
Dreadnought Resources (DRE) has reported another string of “significant” rare earth element (REE) hits from reverse circulation (RC) drilling at its Mangaroon project in WA.
The results come from a 2022 extensional drilling campaign at the Yin ironstone complex in the project area and includes high ratios of neodymium and praseodymium to total rare earth oxides (TREO).
Some of the top assays from the drilling work included a 23-metre hit at 1.28 per cent TREO from 115 metres, along with an 11-metre zone at 2.28 per cent TREO from 120 metres. Other findings included four metres at 3.92 per cent TREO from 125 metres.
Dreadnought said it plans to use these results to update the current Yin mineral resource of 14.36 million tonnes at 1.13 per cent TREO.
DRE Managing Director Dean Tuck said these results were “as expected” and continued to demonstrate the scale potential of the Yin region.
“We look forward to having the additional rigs on site and to recommence the first pass, wide-spaced C1-C7 carbonatite drilling,” Mr Tuck said.
Dreadnought is looking to continue its exploration work in the area, with a new RC rig and diamond rig scheduled to arrive at the site before the end of March. The RC rig will focus on wide-spaced drilling across the C1-C7 carbonatites in the area, while the diamond rig will help support further resource upgrades and metallurgical testwork.
The company is still waiting on assays from 66 holes drilled at the C1-C5 carbonatites in 2022, which are due in March.
Shares in Dreadnought Resources were down 4.41 per cent to 6.5 cents at 10:30 am AEDT.
