THE DRILL SEARGENT: Dreadnought Resources (ASX: DRE) is starting to get results from drilling undertaken on the Yin ironstone complex within the company’s 100 per cent-owned Mangaroon project in the Gascoyne Region of Western Australia.
Dreadnought Resources received the first assays for 2023, which its reported to have confirmed thick mineralisation extends approx. one kilometre south from the initial 3km-long Yin Resource.
The company released a JORC Inferred Resource of 14.36 million tonnes at 1.13 per cent total rare earth oxide (TREO) in December 2022 covering only 3kms of the 43kms of strike within the Yin ironstone complex.
Dreadnought said results from first pass, wide spaced drilling have confirmed three additional ironstones at Y2 and north of the Yin Resource which have produced the highest neodymium/praseodymium (NdPr):TREO ratios it has identified to date.
The company expects these new ironstones and the Yin extensions will underpin Resource upgrades in the December 2023 quarter including a healthy Indicated Resource component to support an initial Scoping Study.
Latest results include:
YINRC172
22m at 2.01 per cent TREO, 7.7 kilograms per tonne of Nd2O3+Pr6O11 (38 per cent NdPr:TREO) from surface, including 12m at 3.1 per cent TREO, 12kg/t of Nd2O3+Pr6O11 (39 per cent NdPr:TREO) from 6m; and
YINRC173
15m at 1.31 per cent TREO, 4.5kg/t of Nd2O3+Pr6O11 (34 per cent NdPr:TREO) from 61m, including 7m at 2.23 per cent TREO, 7.8kg/t of Nd2O3+Pr6O11 (35 per cent NdPr:TREO) from 68m.
“The dam has finally burst on assays with steady news flow now ongoing through 2023,” Dreadnought Resources managing director Dean Tuck said in the company’s ASX announcement.
“Highlights include: the highest NdPr:TREO ratios seen to date from three new discoveries with a combined approx. 2.5 kilometres strike length; Yin extended approx. 1km to the south; and high grades from surface at Y2 where a Resource will be delivered.
“We look forward to expanding the Resource base with significant news flow throughout 2023.”
