THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) believes it may have solved a long-time rare earths riddle at the company’s Mangaroon project in the Gascoyne region of Western Australia.
Dreadnought Resources has identified five potentially rare earth element (REE) bearing carbonatite intrusions via a recent aeromagnetic survey.
Outcropping carbonatites have been confirmed within two of the intrusions, which if mineralised, could have potential for large scale REE mineralisation.
Intrusive carbonatite sources that could explain the local proliferation of REE ironstones and the wider Gifford Creek Carbonatite Complex (GCCC) have long been the holy grail of explorers, geological surveys, and academics.
Previously, the carbonatite intrusions were believed to be blind and deep beneath the local REE ironstones.
“For 30 years people have been searching for the ultimate source of the numerous carbonatite dykes and sills associated with the Gifford Creek Carbonatite Complex,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.
“With the acquisition by Dreadnought of modern, high resolution magnetic data, those carbonatite intrusions may have been located.
“Carbonatites are known within Australia and globally to form significant deposits of REE (ex. Mt Weld – Lynas Corporation, Nolan’s Bore – Arafura Resources, Mountain Pass – MP Minerals).
“The identification of large carbonatite intrusives could be significant for the region and we look forward to receiving rock chip assay results and then drilling the carbonatites along with Yin in March 2022.”
TO READ THE FULL ANNOUNCEMENT: CLICK HERE