Major Improvements in Deposit PotentialScale ExpansionThe gold...

Major Improvements in Deposit Potential

Scale Expansion

• The gold anomaly has grown dramatically from ~300m x 200m to >2,600m x 600m
• This 13x increase in anomaly size suggests a much larger mineralized system than initially recognized
• The anomaly remains open along strike, indicating potential for further expansion

Grade Validation

• The 770ppb Au soil value is among the highest at the entire Mangaroon project
• Surface rock chips up to 155.5g/t Au demonstrate the system can produce very high grades
• Multiple high-grade intersections (30-155g/t Au) suggest consistent mineralization, not just isolated pockets

Value Indicators

Economic Potential

• At current gold prices (~A$3,800/oz), grades of 30-155g/t Au are extremely economic
• Even modest tonnages at these grades could generate significant value
• The large anomaly footprint suggests potential for substantial tonnage

Comparative Context

• Star of Mangaroon (nearby) has 23,400 oz at 12.8g/t Au - already economic
• Steve's Reward surface grades are 5-12x higher than Star of Mangaroon's average
• If even 10% of the anomaly area contains economic mineralization, it could rival or exceed Star of Mangaroon

Strategic Value

• Located within trucking distance of Star of Mangaroon processing infrastructure
• Could potentially feed existing processing agreements
• Multiple prospects in the area create economies of scale

Key Risk Mitigation

Geological Confidence

• The structural setting (major shear zone splays) is proven to host economic gold deposits
• Historical validation from 1996 discovery (116g/t Au over 80m) provides precedent
• Multiple prospect areas reducing single-deposit risk

Deposit Size Potential

Based on the anomaly dimensions and surface grades, Steve's Reward could potentially host:

• Small-medium deposit: 50,000-200,000 oz (if mineralization averages 2-5g/t over limited depth)
• Large deposit: 200,000+ oz (if high grades continue at depth with good continuity)

Critical Next Steps

The drilling results expected in July 2025 will be decisive. Positive drill results confirming:

• Grade continuity at depth
• Reasonable widths (2-10m)
• Strike continuity
• Multiple parallel zones

...would transform Steve's Reward from a prospect to a potential mine development candidate.

Bottom Line

These results substantially elevate Steve's Reward from an early-stage prospect to a legitimate discovery opportunity with significant value potential. The combination of scale, grade, and geological setting suggests this could become a cornerstone asset for Dreadnought Resources, potentially rivaling or exceeding their existing Star of Mangaroon resource.

However, the ultimate value determination awaits drill confirmation of these promising surface indicators.