- Dreadnought Resources (ASX:DRE) unveils its latest nickel-copper-cobalt-3PGE assays from Mangaroon in Western Australia
- Drilling remains ongoing at Bookathanna North
- Dreadnought expects Bookathanna drilling to expand in scope
- The company reported results today from a 10-hole RC drill program
- Shares last traded at 3.3 cents
Dreadnought Resources (ASX:DRE) has unveiled a fresh batch of assay results from its Mangaroon project in Western Australia.
Specifically, today’s results come from the Bookathanna North and High Range prospects.
Dreadnought specifically focused on the Money Intrusion on-site – that being a target named after a type of geological phenomenon, intrusions.
Toronto-listed First Quantum Minerals, subject to an earn-in agreement Dreadnought offered it, was involved in the latest drilling.
Geotechnical success
Drilling into the keel of that intrusion, the company hit the battery and tech metals it was after.
Today’s results cover drillholes from a 10-hole RC program targeting nickel-copper-cobalt and platinum group element (PGE) mineralisation.
The company has intersected lower-middle grades of all target minerals in question from depths less than 100 metres.
Headline results
Dreadnought has reported a 23-metre thick intersection grading at 0.51 per cent nickel; 0.51 per cent copper, and 0.49 grams per tonne of PGE.
That read included a 2-metre thick pocket of much higher grade: 3.32 per cent for nickel, 2.88 per cent copper, and 1.46g/t PGE.
That higher-grade pocket sits at 45 metres depth.
Cobalt was also reported across drill results announced today.
Focus on the Money
The company is now overseeing an ongoing seven-hole wide-spaced RC drill run at Bookathanna North, from where today’s results were plucked.
Dreadnought expects that campaign to progress to a full-fledged diamond bit drill run.
The company will also turn to fresh geophysics surveys, set for completion before the start of 2024.
“We are pleased to have recommenced RC drilling at Bookathanna North with our partners First Quantum Minerals,” Dreadnought Managing Director Dean Tuck said.
“With assays now in hand, we have confirmed that thick near-surface sulphide mineralisation with high-grade massive and semi-massive sulphides exists within the Money Intrusion.”
The way Mr Tuck sees it, this confirms the potential of the Money Intrusion and opens up a whole new place on-site to start drilling.
Shares last traded at 3.3 cents.