THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) is set to commence drilling activities at the company’s Illaara and Rocky Dam gold and VMS projects near Kalgoorlie in Western Australia.
Dreadnought Resources is primed for the drilling to test nine high-quality gold and VMS targets at Illaara and Rocky Dam following a placement, raising $500,000 at 0.4 cents per share.
Drilling will commence at Illaara on the Rodney, Warspite, Bismarck and Reindler’s VMS targets, all of which Dreadnought has identified to contain outcropping gossans and conductive EM plates.
Drilling will then proceed to Metzke’s Find to infill 250m of strike beneath the deepest workings associated with a 15 degree bend in the mineralised structure where previous drilling intersected 2m at 6.8g/t gold and 4m at 1.9g/t gold.
Once this drilling has been completed, Dreadnought will undertake additional target definition work within the Illaara Central Corridor, Metzke’s Corridor and Rocky Dam followed immediately by additional RC drilling scheduled for July/August 2020.
“Dreadnought, in its first 12 months of operations, has been extremely active, with over 80 per cent of its funds going into the ground,” Dreadnought Resources managing director Dean Tuck said in the company’s announcement to the Australian Securities Exchange.
“Dreadnought has acquired and consolidated significant landholdings over prospective under-explored terrain and defined thirty drill ready targets while drilling nine previously defined targets.
“This funding will be used specifically to test nine of our highest ranked targets commencing in late May 2020.”