Junior explorer Dreadnought Resources (ASX
RE) confirms high-grade Rare Earths Discovery at YIN Project
What does the lab say?
Thick,high-grade rare-earth mineralisationat the first drill line on the Yin rare earth ironstones confirmed by laboratory assays with significant intercepts including:
- YINRC005: 35m @ 2.75% TREO from 94m, including 15m @ 4.08% TREO from 105m
- YINRC001: 34m @ 2.59% TREO from surface, including 10m @ 6.05% TREO from 11m
- YINRC002: 31m @ 1.73% TREO from 24m, including 7m @ 3.47% TREO from 29m
- YINRC003: 21m* @ 2.01% TREO from 50m, including 11m @ 3.11% TREO from 58m (does not include a 4m cavity from 54-58m – otherwise a 25m thick intercept)
Pleasingly and as expected the laboratory assays confirm pXRF as an important exploration and field tool.
Assaysof to 16.12% TREO with an average NdPr ratio of ~30%, nearly double the global average and similar to the Hastings Technology Metals Ltd (ASX.HAS, Mkt Cap $450m) world-class Yangibana Rare Earths Project located ~25kms away.
Infill drilling at Yin has commenced with an initial JORC Resource in the December 2022 quarter.
Extensional RC drilling is ongoing with a diamond rig commencing in late July 2022.
Dreadnought Resources Managing Director, Dean Tuck, commented:
“Drilling at Yin continues to exceed expectations. With a second rig mobilising to site this month, we are confident that Yin will produce a substantial initial JORC Resource by the end of 2022. Once drilling at Yin is complete, the rigs will move to the Y3 ironstone and C1-C5 carbonatites. We are seeing genuine scale here with runs already on the board and 66 further anomalies with to be assessed by September 2022.”
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