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 remainsopen 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 are5-12x higherthan 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
Thedrilling results expected in July 2025will 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.
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