DRE 4.55% 2.3¢ dreadnought resources ltd

Ann: Further Gold Consolidation - Mangaroon Project, page-8

  1. 1,919 Posts.
    lightbulb Created with Sketch. 775
    https://hotcopper.com.au/data/attachments/4437/4437202-d6da06053d6cb2a1227bb5152f5457fc.jpg

    Added the above tenement to google maps as per below
    https://hotcopper.com.au/data/attachments/4437/4437230-838f9beaaf29904dc71780853ce09ffb.jpg
    https://www.google.com/maps/d/u/0/viewer?mid=1eGz44S4JVbPOU0_nWhMzT8UTRQnMkr71&ll=-23.859452408930903%2C115.71022759996607&z=11

    We know that Star of Mangaroo produced gold. https://www.mindat.org/loc-291070.html

    "Discovered by Allan McDonald in 1956, who was the local pastoralist on the Mangaroon Station. The assayer wrote on the bottom of the original report 'If you don't start working this, I'll come up and do it myself'.

    McDonald with veteran prospector and shearer, Ernie Munns, sank two shafts in 1960, and began carting ore to the nearest state batteries at Peak Hill and then Meekatharra, 300 kilometres away along rough back roads. The first 34 tonnes came in at 145 ounces, then further 60 tonnes 251 ounces, 95 tonnes 237 ounces, and next five crushings produced 868 ounces. It proved a very rich mine, with $20,000 (A) earned in the first 4 years in 1960's figures from 1400 ounces of gold.

    McDonald claimed there was no alluvial gold in the area, although unverified later oral accounts disagree with this. Mining continued until 1983 producing a total of 464 ounces of gold from 357 tonnes of ore, at a rich 34.87 g/t Au. The buildings and large amount of machinery left indicates later possible company involvement but no details could be found.

    Geology is in short supply and often relates to surrounding country rock. The area contains paragneiss, migmatites, and paraschists of the Morrisey Formation, complexly folded around north-west axes. The Star of Mangaroon deposit is a shear related, stacked system of high grade auriferous quartz veins, dipping 50 degrees east. The ore system is 200 metres long, by 2-4 metres wide. Thin hematite veins cut the ore zone."

    Summary, we know there is gold, DRE now have the potential to own the tenement to the south. the big problem is when do they get the time to drill. VMC is interested in the area as shown from one of their announcements in December last year relating to Gold:

    https://hotcopper.com.au/data/attachments/4437/4437299-c8a09d851ae1ae23ab1078087359238b.jpg
    If you do your research VMC are also looking at PGE and REE on their same tenements.


 
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