DRE 5.56% 1.7¢ dreadnought resources ltd

PS: A post almost longer than the announcement evolved. A lot...

  1. 2,951 Posts.
    lightbulb Created with Sketch. 7706
    PS: A post almost longer than the announcement evolved. A lot packed into this project and DRE as a whole. GLTAH

    ===============================

    A good start with results at Nelson reflecting 1980s work by EZ and BHP.

    IMO assays and DHEM will be critical to further success given the visuals seem to mention only limited base metal (Pb-Zn-Cu) and no photos of them. This does not mean too much as these VMS systems can be very difficult to explore with 'bread crumbs' sometimes needing to be followed up to find economic zones (see PDF below).

    At Nelson the intersection in NERC002 is in a hole drilled roughly 180 degrees differently to the other five holes. If the system is sub vertical this does not make much difference. However, if stratigraphy is west dipping (5 holes drilled East) then the hole drilled West could be drilling partially down dip giving an exaggerated down hole length versus true thickness.

    https://hotcopper.com.au/data/attachments/4232/4232880-0817e01b966b627ab42b14bca9aa096d.jpg
    At Golden Grove Pb anomalies tended to be closer to deposits with Zn/Cu/Ag being more 'smeared' in the weathering profile. This is Illaara so it remains to be seen what geochem means in this environment.

    Putting today's drilling onto Google Earth is a standard practice, for me, to give some context in an evolving GIS approach. Very preliminary for DRE where I began on Illaara a couple of weeks back transposing the prospects and some drilling in a first pass. Also spotted the first 3 Trafalgar holes on Sentinel satellite imagery but then became distracted until now.

    https://hotcopper.com.au/data/attachments/4232/4232958-cf27cb2fbe57d6b2457c45fa408f1dd2.jpg
    The white circles are prospects roughly located from DRE plans. Nelson (N) is a couple of Kms out so quite a bit of correcting to be done from the first pass. Not certain why I relocated Lawrence Find (LF) a bit to the south - perhaps something in open files?.
    https://hotcopper.com.au/data/attachments/4232/4232985-9a2cec04bf8112423a1ea9ab85f171f6.jpg


    Peggy Sue is equally problematic when looking at this DRE map where it plots north of Nelson but, the text says drilling extends PS 500m east.
    The pegmatite system appears to be very extensive in southern Illaara with indications it extends at least 3 Kms to the east to Trafalgar. Proof of concept will come from assays on these 9 holes with 10-34m pegmatite intersections (horizontal and sub vertical). What would be economic and how long to turn into a mine? Li market in 5+ years time? Good start anyway on what appears to be a very large system of Li bearing pegmatites.

    Nelson on GE - detail.
    [Check if EZ/BHP drilling, if any, is available]
    PS 500m to west. LF?
    https://hotcopper.com.au/data/attachments/4233/4233054-59266f0a7cf73414cb2b5e8c862e6b83.jpg

    Trafalgar - detail
    https://hotcopper.com.au/data/attachments/4233/4233065-1fdc437fe759aa1f64f034211037afd9.jpg
    T 1-3 actual sites.
    Blue lines are miscellaneous license boundaries for possible Fe access??
    IT 1-3,?? Sentinel interpreted sites late March 22 (+-15m or better).
    Drill targets have strong magnetic signature with EM plates so magnetite and/or pyrrhotite were always likely to be intersected. The connectivity of Po/Py in the visual would account for the EM signature if extensive (probably is).
    https://hotcopper.com.au/data/attachments/4233/4233085-d2b1ca0033f521bcb4440374aba1d126.jpg

    ================================
    I did work at Golden Grove (GG) not long after EZ left the JV there in the late 1980's, apparently to focus on the Elura base metal mine (now? Endeavor Mine) in NSW. Whether this corporate change impacted Nelson is probably lost in history to most. 30 Mt was mined from Elura which was on care and maintenance in 2020.
    GG is still going and provided a platform for a very broad case study of what may be involved in looking for VMS in the Yilgarn in this PDF. Hopefully generic enough to just change the company name(s) to suit exploration in WA.

    VMS DEPOSITS.pdf



 
watchlist Created with Sketch. Add DRE (ASX) to my watchlist
(20min delay)
Last
1.7¢
Change
-0.001(5.56%)
Mkt cap ! $59.72M
Open High Low Value Volume
1.7¢ 1.8¢ 1.7¢ $112.4K 6.610M

Buyers (Bids)

No. Vol. Price($)
23 4753868 1.6¢
 

Sellers (Offers)

Price($) Vol. No.
1.7¢ 1073005 11
View Market Depth
Last trade - 12.39pm 16/05/2024 (20 minute delay) ?
Last
1.7¢
  Change
-0.001 ( 2.86 %)
Open High Low Volume
1.8¢ 1.8¢ 1.7¢ 1739521
Last updated 12.24pm 16/05/2024 ?
DRE (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.