DRE 5.26% 1.8¢ dreadnought resources ltd

From the talk I did hear C6 being drilled soon. Post talk...

  1. 3,099 Posts.
    lightbulb Created with Sketch. 8472
    From the talk I did hear C6 being drilled soon. Post talk chatting with DT may not be as soon as interpreted from the talk.

    Initially the drilling is starting at south Yin. Has started! No visuals yet as cloud cover on the most recent 5 day satellite pass (13/2) next pass 18th should show progress if cloud free. [adjust date]

    https://hotcopper.com.au/data/attachments/5059/5059399-071f978c2c7eff76596529d6ea3dff4b.jpg
    Open circles are various prepared or planned sites from 2022. Yellow not prepared along the southern Yin Trend, Red (Y1 2) prepared but probably not drilled. White not drilled after poor results on the SW fork of Yin (assumption).
    Not certain where drilling is going to be done - South Yin is my idea of what this area is - probably in this image.

    This is only going to be a few holes for scoping purposes - 6 comes to mind but will see.

    After this the current single RC rig will move up to Yin for infill drilling for MRE update etc.

    At some point other rigs will join the fray.

    Initial plans mentioned included going from Yin infill up to C1-5 area. and then down to C6. If this is what happens then maybe a little while for C6 drilling but not too far off.

    Whirlwind description by DT on plans which will get interesting when multiple rigs on site.

    =================
    DRE may become miners but definitely not chemists!

    DT makes two statements in the talk. One seemed to suggest DRE would do some digging. When asked subsequently DT said that the early mining and producing a concentrate is something that is being considered - my impression something he would like to do perhaps. This concentrate would have multiple markets in WA where the more complex alchemy of rare earth metals could be expanded. Iluka; LYC Kal: Exmouth HAS? all options.
    The cost would not be small $100M (?mentioned) but less than HAS set up. The above is my interp and paraphrasing of comments from DT.

    ================
    Logistics- Some sharing with HAS and their new airstrip which will make DRE site access easier. Currently flight to Exmouth and a 5 hour drive - Effectively 2 days per swing.
    Upgraded camp...? think it was mentioned and an obvious change as the 2022 program morphed into a 'gentle monster' with great outcomes for DRE on the REE front. 2-3 months planned to a major drill campaign.

    The sharing with HAS is part of something DT likes doing and it is extending to exploration ideas with neighbours. May have limits, probably does, but each own their ground and snippets can help.

    This is happening at Bresnahan for the conceptual and practical side with some input from the Browns Range team on unconformity style a la Wolverine etc.

    ===================
    The two highest grade REE samples from Bresnahan came somewhat fortuitously. They were using a helicopter to maximise coverage in a limited window of available time and this site was one that was easy to land at between two areas of interest.
    Apparently samples in the 0.1-0.3% TREO range would likely to have be enough for initial proof of concept but 1%+ definitely was.

    Some more surveys in the next 6 months which will lead to a decision whether to retain ground or not. Lots of prospective land to test so not an easy task.

    =================
    REE lab facilities now in Perth. First of two trains?
    Should reduce turnaround time especially when combined with filtering the samples using PXRF so that less background ones get sent for assay. This reflects the confidence in the XRF readings. Not total but getting there.

    ================
    Auger sampling at Yampi;
    Two phases with the first reported as a batch using the same (?) XRF machine.

    The second phase along with the first batch are all now in process of going to the lab for analysis.
    DT mentioned 5 PXRF machines were used and getting consistent/reliable readings for the second batch was not feasible. Numbers - yes though what they meant could not be reported with any degree of certainty.

    ============================
    Comments about upside or downside made on HC are for the individual posters.

    Basically too early to make meaningful comments at this stage when assays are not available and numerous studies need to be completed.

    Haven't read the Lassonde thread since this morning. Issues in that will come out in due course.

    I did ask DT about the distribution of TREOs in the reported holes for C3 infill. "Early days with more drilling to come but they may represent a bulk mining zone to the depth of drilling" paraphrased very roughly. Can't say I necessarily agree from the limited announced info but that's only partial data with more studies to be conducted which DT has a better feel for.

    =========================
    Illaara - Newexco looking at the Ni potential. Maybe one day this belt may be more 'loved'.

    Last edited by salpetie: 16/02/23
 
watchlist Created with Sketch. Add DRE (ASX) to my watchlist
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.