Dreadnought Resources greets Monday Market with Mangaroon Double Header
THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) burst out of a self-imposed trading halt with an announcement double banger from the company’s 100 per cent-owned Mangaroon rare earth project in the Gascoyne Region of Western Australia.
The first announcement concerned assays received for an additional 35 RC holes from 120 drilled at the Yin ironstone discovery that have continued to confirm thick, high-grade, rare-earth element (REE) mineralisation.
“Yin continues to deliver exceptional REE results that exceed expectations for the ironstones of the Gifford Creek Carbonatite Complex,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.
“We look forward to receiving the remaining assay results from the 120 RC holes drilled to date which will comprise our initial JORC resource at Yin.
“Importantly this initial JORC resource will only cover approx. three kilometres of the approx. 16 kilometres of strike of the Yin Trend.
“We are also excited to announce in a parallel announcement the discovery at Sabre (formally known as Y3) and look forward to drilling the C1-5 carbonatite targets.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
The company’s second announcement was about Sabre, where RC drilling has intersected thick, rare earth element (REE) mineralisation over some 1km strike that is open in all directions.
Dreadnought has interpreted Sabre to be a 2-3km long REE bearing ironstone swarm that both outcrops and extends under shallow cover.
First pass, wide spaced drilling at Sabre and Y8 (possible extension of Sabre) is expected to finish in mid-September 2022.
“The significant scale potential of the Mangaroon rare earth project continues to be underscored with thick mineralised REE ironstones at the Sabre discovery (the prospect formally known as Y3),” Tuck said.
“With two Rare Earth discoveries in hand now at the Mangaroon REE Project we look forward to continuing the discovery drilling program with additional drilling at Sabre, Y8 and then the C1-C5 carbonatite targets all commencing this month.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE
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Web: www.dreadnoughtresources.com.au
