Dreadnought Resources Completes Capital Raise to Accelerate Mangaroon Rare Earth Discovery

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) is cashed up to accelerate infill, extensional and discovery drilling at the company’s 100 per cent-owned Mangaroon rare earth project in Western Australia.

Dreadnought Resources reported it has received firm commitments to raise $12 million in an institutional placement of 200 million new ordinary shares at an issue price of six cents per share.

The company said the placement was strongly supported by institutional and sophisticated investors, both domestically and offshore, providing endorsement of Dreadnought’s ongoing progress and exceptional discovery at Mangaroon.

“The rapid progress at the large-scale, high-grade Yin discovery requires an acceleration of our activities,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“As does testing of the potential game changing prospects around Yin which includes the possible source of the regional rare earths being the five carbonatites (C1 to C5).

“An initial JORC Resource at Yin will provide confirmation as to the scale and grade potential at Yin.

“We expect ongoing testing at Yin and our other ironstones to contribute to significant growth of the company’s upcoming maiden JORC Resource.

“The company will also progress activities at its other projects, which are showing considerable promise as ongoing exploration continues.”









Resources Roadhouse Steak Sandwich Showdown

THE CONFERENCE CALLER: If it’s Monday in Kalgoorlie for the annual Diggers & Dealers Gabfest then the smart money moves to The Resources Roadhouse Steak Sandwich Showdown.

Rapidly emerging as a ‘must attend’ event at the annual forum, The Resources Roadhouse showcases junior exploration plays at the Showdown that are unable to elbow their way into the jam-packed three-day program.

While attendees masticate on their steak sandwiches this year, they will hear from the companies featured below.


Austral Resources (ASX: AR1)


Austral Resources recently achieved the production of the first copper cathode at the company’s Anthill copper mine, within the Lady Annie copper project in Queensland.

The production of copper cathode from Anthill completes a phase of intensive mine development and plant commissioning since the company listed on the ASX in November 2021.

Austral is confident this paves the way for it to meet its stated objective of producing copper cathode at a rate of 10,000 tonnes per annum from mid-2022.

Leading up to the cathode announcement, Austral inked reciprocal non-binding exploration earn-in agreements with MIM, a subsidiary of one of the world’s largest mining companies, Glencore.

The deal will be a boon for the company’s upcoming exploration efforts that are being scaled up to discover and deliver new copper ore, including oxide exploration drilling at several prospects.


Cannon Resources (ASX: CNR)


Cannon Resources is working up two nickel projects in the northern Goldfields region of Western Australia, approximately 200 kilometres north-east of Leonora.

The Fisher East project hosts four high-grade nickel sulphide deposits: Musket, Camelwood, Cannonball, and Sabre, all located very close to each other with a combined JORC 2012 Mineral Resource containing 116,300 tonnes of nickel.

Recent assays achieved at the Sabre deposit confirmed the high-grade nickel content of the massive sulphide mineralisation developed on the northern margin of the Sabre channel.

The high-grade nickel mineralisation has over 250 metres of plunge extent and remains open across strike and up and down plunge.

The Collurabbie project contains a JORC 2012 Inferred Mineral Resource of 573,000 tonnes at 1.63 per cent nickel, 1.19 per cent copper, 0.082 per cent cobalt, 1.49 grams per tonne palladium, 0.85g/t platinum at the Olympia deposit.


Caspin Resources (ASX: CPN)


Caspin Resources has made healthy inroads at the company’s Yarawindah Brook and Mount Squires projects in recent times.

At Yarawindah Brook, Caspin has demonstrated evidence of edging closer to a major discovery at the Serradella prospect, where early drilling results encouraged the company to quickly commence planning a follow-up program.

Meanwhile, Caspin has opened a second exploration front at Mount Squires with drilling of the Duchess prospect, which has been on the drawing board for well over 12 months.

Caspin believes this soil anomaly holds unique characteristics unlike anything else in the region and importantly, potentially substantial scale.

Although at a very early stage, Caspin considers the high-risk exploration worth the effort as the potential large rewards could make it all worthwhile.


Dreadnought Resources (ASX: DRE)


Dreadnought Resources’ project portfolio currently boasts three diverse West Australian projects covering a mix of geological terrains and target commodities.

The Tarraji-Yampi copper-silver-gold-cobalt project is located in the West Kimberley, the Mangaroon nickel-copper-PGE-REE-gold project is located in the Gascoyne, and the Central Yilgarn project speaks for itself.

Earlier this year Dreadnought was able to commence exploration activities earlier than anticipated at the Tarraji-Yampi prospect, in the form of a low impact auger sampling system that was specially designed for Taraji-Yampi allowing the company to commence exploration earlier in the season before road access had been re-established.

Of seven quality targets identified, two were noted to be associated with outcropping mineralisation with others (OR3 and OR4) both associated with untested Fixed Loop EM conductors.

More recently, Dreadnought declared confirmation of genuine REE scale potential following RC drilling at the Yin prospect within the Mangaroon project after drilling identified mineralised ironstones over three kilometres of strike remaining open in all directions and at depth.

The company has to date, completed 67 RC holes, which besides providing confirmation of the REE ironstones, also include further evidence of parallel lodes along strike.


Miramar Resources (ASX: M2R)


Miramar Resources holds projects in the Eastern Goldfields, the Murchison and Gascoyne regions of WA.

The company’s portfolio of exploration projects has potential for new gold discoveries within trucking distance of existing operations and for the discovery of nickel-copper-platinum group element (PGE) mineralisation.

Three projects in the Eastern Goldfields are considered to hold potential for new gold discoveries within proximity to existing mining and/or processing operations:

Gidji JV (80%): a strategic land position within the Boorara Shear Zone, 15km north of Kalgoorlie;
Glandore: an underexplored project with high-grade drill results 40km east of Kalgoorlie; and
Randalls: a folded BIF adjacent to Silver Lake Resources’ Mt Belches gold operations.

The company has been actively exploring the Gidji JV Project since listing on the ASX in October 2020, resulting in the identification of several new targets which it believes could host a major gold discovery.


Peak Minerals (ASX: PUA)


Peak Minerals’ diversified multi-commodity portfolio of quality, under-explored Australian copper and gold assets is centred around prospective known copper and gold producing regions.

A focus of late has been the company’s Green Rocks project near Meekatharra in WA, which incorporates the existing Copper Hills and Lady Alma prospects.

A recent Phase 2 air core drill program confirmed the presence of intrusions at other targets, including Tal Val, Target C and Target B.

At Target B, broad zones of highly encouraging nickel intercepts were identified below the regolith/fresh rock interface.

Follow up RC and diamond drilling is now underway with the RC component looking to intercept shallow targets between a depth of 300 – 375m, particularly at Target B.

The holes are also targeting prospective geology and geochemical anomalies found during air core drilling and EM surveys at Rixon and Lady Alma.

The holes will be surveyed using DHEM to further resolve conductors, particularly those picked up by Moving Loop Electromagnetics (MLEM).


Meeka Metals (ASX: MEK)

Meeka Metals has a dual focus across the company’s 100 per cent-owned portfolio of Western Australia-based assets where it is exploring for gold and rare earths.

Meeka’s number one asset is the Murchison gold project in the Murchison Gold Fields that hosts a large high-grade 1.1 million ounces of gold JORC Resource, which the company is actively growingas it progresses toward production.

Meeka also owns the Circle Valley project in the Albany-Fraser Mobile Belt (home to the Tropicana gold mine that historically produced 3 million ounces of gold), where it has identified gold in four separate locations presenting a potential growth opportunity.

The company’s second focus is its Cascade rare earths project, from which it recently announced a neew batch of high-grade rare earth assays that have continued to affirm widespread rare earth mineralisation while displaying very high proportions of the valuable magnet rare earths, which is an important determinant in the economics of these deposits.


Turaco Gold (ASX: TCG)


Turaco Gold has the Eburnea gold project in central Cote d’Ivoire and three advanced and highly prospective projects in northern Cote d’Ivoire.

Recent activity resulted in gold assay results from its first reconnaissance style drilling undertaken at the Bouake North prospect, within the Eburnea project.

Turaco Gold had previously identified a large 7km by 4km gold-in-soil anomaly at Bouake North via auger drilling across the entire anomaly defining six in-situ gold anomalies.

Subsequent reconnaissance style drilling has to date tested just two of these targets and has returned high-grade, shallow gold.

Elsewhere within the portfolio, gold assay results were achieved from diamond core and AC drilling at the Nyangboue prospect, within the 89 per cent-owned Boundiali project in northern Côte d’Ivoire.

These assay results confirmed extensions to previously drilled mineralisation at the Nyangboue prospect, along with a new parallel zone of mineralisation at surface over 400 metres in strike.

Mineralisation remains open in all directions at Nyangboue.



In these wild and wacky days of COVID, The Roadhouse likes to have reserves on hand should anything untoward happen to our presenting guests. Below are a couple of contenders who may get a run as medical subs, should the need arise.


Sunshine Gold (ASX: SHN)


Sunshine Gold has a portfolio of quality gold and copper projects in Queensland comprising a 100 per cent interest in the Ravenswood West gold-copper-rare earth project, the Triumph gold project, the Hodgkinson gold copper project, and the Investigator copper project.

Recent activity involved RC drilling at the Bank copper-gold-silver-molybdenum prospect at Ravenswood West.

This was the first drilling to be carried out for over 50 years at the Bank prospect, from which Sunshine Gold took great encouragement since all five reconnaissance RC holes intersected broad zones of disseminated and vein-hosted sulphides within intensely altered host granodiorite.

As is the usual stories with such excitement these days, assays are expected July-August 2022.

Not to be perturbed, Sunshine Gold has already outlined follow up drilling will be designed to test the porphyry contact and the zone between the soil and IP anomalism and will review the assay data, when it arrives, to refine further targets.


QEM Limited (ASX: QEM)

QEM Limited is exploring, with the view to development of, the company’s Julia Creek vanadium / oil shale project in North Western Queensland.

QEM describes the Julia Creek vanadium / oil shale project as being a unique world class resource with the potential to deliver innovative energy solutions, through the production of energy fuels and vanadium pentoxide.

The project’s JORC 2012-compliant Mineral Resource of 2,850 million tonnes at 0.31 per cent vanadium pentoxide, including 310 million tonnes in the Indicated category, is one of the single largest ASX listed vanadium resources that QEM views as a great opportunity for development.




Dreadnought Resources’ Drilling Confirms 3km Strike of Rare Earth Ironstones at Yin

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) declared confirmation of genuine scale potential following RC drilling at the Yin rare earth element (REE) prospect within the company’s 100 per cent-owned Mangaroon project in the Gascoyne Region of Western Australia.

Dreadnought Resources said the recently conducted drilling had confirmed the genuine scale potential of REEs having identified mineralised ironstones over three kilometres of strike remaining open in all directions and at depth.

The company has to date, completed 67 RC holes, which besides providing confirmation of the REE ironstones, also include further evidence of parallel lodes along strike.

Dreadnought expressed encouragement from 87 per cent of holes drilled to date having intersected mineralisation as confirmed by pXRF in the field.

That initial enthusiasm will need to be checked for now as initial assay results have experienced delay in the lab and are now expected in late July 2022, with further assays expected to follow regularly thereafter.

“Drilling at Yin continues to exceed expectations,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“With a second rig mobilising to site, we are confident that Yin will produce a substantial initial rare earth Mineral Resource by the end of the year.

“Once drilling at Yin is complete, the rigs will move to Y3 and C1-C5 to test additional REE targets.

“We are seeing genuine scale here with runs already on the board and 66 further anomalies recently identified.

“We also expect to confirm high-grade potential with first assays due back in late July 2022.”









Dreadnought Resources Intersects High-Grade Rare Earths at Yin

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) should have a tale to tell at next week’s Gold Coast Investment Showcase following commencement of RC drilling at the REE ironstones and carbonatites, within the company’s 100 per cent-owned Mangaroon project in the Gascoyne Region of Western Australia.

Dreadnought Resources has a drilling campaign of 66 holes underway at the Yin REE ironstone, which has already intersected multiple ironstones from surface with upwards of 50 metres of combined mineralisation to a depth of 180m, with mineralisation remaining open at depth and along strike.

All samples have been analysed in the field by a handheld pXRF unit indicating the tenor of the REE mineralisation and samples have been dispatched to the labs for rush analysis.

Preliminary pXRF results from the first line of drilling at Yin include:

33 metres at 2.5 per cent total rare earth oxides (TREO) from 1m, including 10m at 6.3 per cent TREO from 11m;

17m at 2.2 per cent TREO from 58m, including 9m at 3.3 per cent TREO from 58m;

34m at 2.9 per cent TREO from 95m, including 20m at 4.20 per cent TREO from 104m;

“Drilling of the rare earth ironstones at Mangaroon is off to a fantastic start with every hole of the first drill line intersecting significant thicknesses of mineralised ironstone, Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“The intercepts have exceeded expectations and puts Yin on the path to be a significant REE discovery.

“Samples have been rushed for assay and as drilling progresses, we will provide additional updates.

“To achieve this result nearly one year to the day of our first rock chips results at Yin is a significant accomplishment and a testament to the hard-working Dreadnought team and our positive working relationships with all stakeholders involved.”









Dreadnought Resources Identifies Carbonatite Intrusions

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.”










Dreadnought Resources Identifies New REE Ironstones

THE DRILL SERGEANT: Dreadnought Resources greeted the New World Metals Conference by claiming discovery of four new Rare Earth Element (REE) ironstones at the Yin REE camp within the company’s Mangaroon project in Western Australia.

Dreadnought Resources received assays from recent rock chips confirming four additional REE ironstones, expanding the strike of the emerging Yin REE camp to approx. 11 kilometres.

The company reported the four newly identified prospects (Y3, Y4, Y5 and Y6) are visually and chemically similar to those seen at both Yin and Yangibana.

Dreadnought will commence a detailed airborne magnetic and radiometric survey later in September that is expected to highlight additional anomalies and allow for mapping under shallow cover to trace the ironstones.

This work will assist in identifying new ironstone occurrences, and for the design of drill programs to commence in the March 2022 quarter.

“It is an exciting development confirming four new REE ironstones over approx. 11 kilometres of strike which make Yin camp scale,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“We are excited for the results of the planned magnetic-radiometric survey to assist in further target generation ahead of Resource and discovery drilling in the March 2022 quarter.

“In the interim, the upcoming Kimberley program remains on schedule with field crews mobilising to site in mid-September 2021.”









Dreadnought Resources Releases Triple Header Announcements

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) kept market watchers interested this week by releasing three ASX announcements covering the company’s diverse portfolio of projects.

Dreadnought Resources’ first announcement of the week covered results of reconnaissance sampling at Rough Triangle, part of the company’s Tarraji-Yampi project in the West Kimberley region of Western Australia.

The company explained that Rough Triangle was identified and mapped by Western Mining Corporation in 1958, at which time it was declared a ‘significant lode’, however, Rough Triangle was not sampled, and no exploration has been undertaken there since.

Dreadnought has now sampled Rough Triangle as part of a project wide reconnaissance program assessing historically mapped mineralisation and more recently generated anomalies.

The sampling confirmed high tenor polymetallic mineralisation, including critical minerals antinomy and bismuth, in addition to copper and silver over approx. 600 metres of strike length.

“We have no shortage of outcropping mineralisation at Tarraji-Yampi,”

“There is certainly nothing more exciting than walking along walls of outcrop with copper staining.

“The confirmation of high tenor antimony, bismuth, copper and silver is highly encouraging for a substantial system at Rough Triangle.

“We will continue to assess additional targets while undertaking our drilling programs at Texas, Fuso, Paul’s Find, Orion and Chianti-Rufina.”


Dreadnought followed up on Wednesday by announcing results from rock chip sampling of pegmatites at Peggy Sue, part of the company’s Illaara project.

Results achieved at Peggy Sue identified multiple, high-grade tantalum clusters and anomalous lithium.

The company believes these rock chip results indicate a potentially large system.

Future work will look to further map and sample the pegmatites to determine the mineral zonation patterns and define drill targets, likely to commence in the December 2021 quarter.

“Identifying these high-grade tantalum clusters from first pass sampling is highly encouraging,” Tuck said.

“Tantalum is a critical metal where security of supply matters and Peggy Sue is ideally situated in a Tier 1 jurisdiction.

“Going forward, we will be looking to extend the mineralisation and define any zonation within these pegmatite swarms with an eye to vector in towards additional tantalum and potential lithium and caesium zones.”


On Thursday, Dreadnought informed everybody that RC drilling has commenced at Chianti-Rufina, which is also part of the Tarraji-Yampi project.

The drilling at Chianti-Rufina is expected to take a week, after which the drill rig will move to Fuso and Paul’s Find copper-gold targets.

FLEM surveys at the Orion nickel-copper-PGE target will be underway at the same time.

Once drilling is complete at Fuso and Paul’s Find, the rig will move to Orion to drill the known EM plates and any additional plates identified by the FLEM surveys.

This program is expected to be completed by the end of July 2021.

“We are embarking on a 21-hole diamond and RC drill program that will test targets over five high-quality prospects, Tuck said.

“To say that we are excited about the potential of this program is an understatement.”






Dreadnought Resources Identifies Outcropping REE at Mangaroon Project

THE DRILL SERGEANT: Dreadnought Resources (ASX: DRE) announced high-grade REE assays from previously unsampled ironstone outcrops at the Yin prospect, within the company’s Mangaroon project in the Gascoyne region of Western Australia.

Dreadnought Resources reported it had achieved rock chip samples from outcropping ironstones at the 2.5 kilometres long Yin prospect that returned assays up to 11.2 per cent Total Rare Earth Oxide (TREO).

The company claimed the results from the Yin prospect exhibit similar characteristics to the nearby Yangibana REE project that is currently under construction and development by Hastings Technology Metals (ASX: HAS).

To date, Dreadnought has identified twelve REE prospects based on thorium radiometric anomalies coincident with apparent ironstone outcrops.

Eleven other REE prospects remain to be inspected and field work is currently being undertaken to assess these prospects in addition to the strike extents of Yin.

“The number of prospects identified, combined with the high-grades of rare earths at Yin has been an interesting development for us at Mangaroon,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.

“Further work is underway to determine the potential scale and implications of this opportunity.

“In the interim, we remain focused on drilling at our Kimberley project with rigs and personnel mobilising on schedule in June 2021.”