DRE is really 3 companies rolledinto 1.
I don't think there is another junior exploration stock with the size oftenements we own, happy to be proven wrong. I like to think the SOIis 1/3 because if it was just Kimberley or Illaara or Managaroon with 1/3 ofSOI, I would still invest however, if DRE was only one project with the currentSOI, then i be a bit more worried.
Some people called out MC as away of evaluating the worth of the company which is a good indicator but ithink it needs to be treated differently for DRE.
Personally the best way to calculate the potential of DRE is to look into eachpotential and provide an evaluation on each opportunity against the SP, SOI andpossible size. i will let better people do this calculation.
Below is a list of the currentpotentials.
Note: there are large areas where wehave not explored at all on each of the projects so shown in the below link:
https://www.google.com/maps/d/u/0/viewer?mid=1eGz44S4JVbPOU0_nWhMzT8UTRQnMkr71&ll=-22.768599481295713%2C122.10616420847148&z=6
Kimberley
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- Chianti-Rufina (Cu, Ag, Au) (Assaypending)
➢30/07/2021-2m of massive sulphide at Chianti containing dominant chalcopyrite, sphalerite andgalena
➢08/07/2021- 7 drill targets
➢16/08/2019- PD1: 4.57m @ 1.13% Cu, 0.69% Pb, 2.05% Zn, 21.7 g/t Ag from 10.7m; and ‒DDH3: 6.55m @ 1.23% Cu, 0.93% Pb, 2.85% Zn, 32.2 g/t Ag from 36m.
- Texas (Ni,Cu,PGE) (Assay pending)➢31/08/2021- TXDD002 intersected a ~140m thick sequence of fine to coarse grainedRuins Dolerite interfingered quartz-feldspar porphyry intrusions. At thetarget depth, near the base of the intrusion, multiple remobilised sulphideveins were intersected, dominated by nickeliferous pyrrhotite and minorchalcopyrite hosted within the Ruins Dolerite and along a sheared basal contactwith underlying sediments. *End of hole is 169.8
➢30/07/2021- Texas diamond drilling has been delayed due to rig breakdown at 55m.Drilling is expected to recommence early August 2021 with initial resultsmid-August 2021.
- Rough Triangle (Sb,Bi,Cu,Ag) (no drilling yet)
➢27/08/2021 Followup rock chip sampling from Rough Triangle and initial rock chips from severalhistorically mapped outcropping lodes have returned bonanza grades of Cu,Ag, Sb and Bi associated with Au and Co. Significant results include:
• 83.7% Cu, 142g/t Ag
• 45.6% Cu, 75g/t Ag, 0.1 g/t Au
• 13.2% Cu, 197g/t Ag, 14.5% Sb, 1.6% Bi
• 21.3% Cu, 291g/t Ag, 15.0% Sb, 3.1% Bi
• 2.4% Cu, 1.4 g/t Au, 0.2% Co, 5.0% Bi
• 17.9% Cu, 272g/t Ag, 8.8% Sb, 1.9% Bi➢30/07/2021 Significantrock chips include:
• RT07: 20.4% Cu, 4.6% Sb, 0.9% Bi, 101g/t Ag
• RT08: 8.1% Cu, 2.2% Sb, 0.3% Bi, 44.5g/t Ag
• RT09: 18.9% Cu, 14.1% Sb, 1.6% Bi, 196g/t Ag
• RT12: 18.5% Cu, 10.8% Sb, 1.9% Bi, 291g/t Ag
- Orion(Cu,Au,Ag,Co) (Plate A) (Awaiting Results)
➢04/10/2021 1drill hole planned
- Orion(Cu,Au,Ag,Co) (Plate B) (Awaiting Results)
➢04/10/2021 1drill hole planned
- Orion(Cu,Au,Ag,Co) (Plate C) (Awaiting Results)
➢04/102/2021 Drilled with noresults –
- Orion(Cu,Au,Ag,Co) (Plate D) (Awaiting Results)
➢02/11/2021 Mineralisationat Orion is now confirmed from a depth of ~1m to ~150m down dip and along strikefor ~240m and remains open at depth and along strike. This includes multiplesupergene (chalcocite) and oxide (gossanous) intercepts in the top 20mfrom surface. Of 29 holes drilled at Orion, 19 intersected massive tosemi-massive sulphides or supergene / oxide mineralisation.➢04/10/2021- 19 additional Drill holes➢25/08/2021- KMRC017 intersected 12m @ 1.6% Cu, 31.7g/t Ag and 0.5g/t Au from 45mfrom an interval of massive to semi-massive sulphides within the RuinsDolerite. The massive sulphide is also strongly magnetic, likely duetopyrrhotite, making other magnetic anomalies attractive drill targets. Given thewell-preserved supergene mineralisation seen across the Tarraji-Yampi project,including at Grant’s Find and Rough Triangle, the shallower up dip projectionsof the massive sulphide zone are high priority follow up drill targets.
-Grants (Cu,Au)
➢30/07/2021 -5m of chalcopyrite-rich quartz veining (~10-30% chalcopyrite) at Grant’s Find RCrig to return September 2021 for follow-up drilling with a copper-gold focus onOrion and Grant’s Find. Assays for the program are due in late August2021.
GRDD001: 9.0m at 1.1% Cu and 0.2 g/t Au from 36.0m including 1.7m at 3.8% Cuand 0.5 g/t Au from 40.3m; and o 1.6m at 1.2% Cu from 108.4m
GRDD002: 3.4m at 1.1% Cu from 112.0m; o 1.5m at 1.3% Cu from154.0-155.9m; and o 1.0m at 1.1% Cu from 99.0m.
- Fuso (Cu,Au,Ag,Co) (Assay pending)
➢25/08/2021- KMRC012 - 1m @ 2.1% Cu, 0.1g/t Au, 3.9g/t Ag, 0.24 Co from 90m➢30/07/2021-Intense potassic-sulphide alteration and quartz veining at Fuso and Paul’sFind, possibly indicative of a gold bearing system and additional magneticsurveys underway as the magnetic anomaly remains unexplained;➢08/07/2021- 6 Drill holes
-Paul's Find (Awaiting Results)
➢25/08/2021- Assay pending➢30/07/2021-Intense potassic-sulphide alteration and quartz veining at Fuso and Paul’sFind, possibly indicative of a gold bearing system and additional magneticsurveys underway as the magnetic anomaly remains unexplained;➢08/07/2021- 3 drill targets
- IronClad (New Area)
- Wilson's (New Area)
- Monarch (New Area)
Mangroon
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- Bookathanna (Cu,Ni,Co,Pt-Pd-Au) (Drilling to beorganised)
➢16/07/2021 Gossanousoutcrop over ~1km strike at Bookathanna Bore in the north of the MoneyIntrusion with significant rock chip results including:
• MNRK0367: 1.0% Cu, 0.6% Ni, 0.04% Co, 0.1 g/t Pt-Pd-Au
• MNRK0366: 0.4% Cu, 0.4% Ni, 0.03% Co, 0.3 g/t Pt-Pd-Au
• MNRK0346: 0.4% Cu, 0.5% Ni, 0.02% Co, 0.3 g/t Pt-Pd-Au
- Lumpy's Find (Ni,Cu,Pd,Pt,Au) (Drilling tobe organised)
➢25/11/2020Allan “Lumpy” McDonald was born and raised on Mangaroon Station where he wasboth a successful pastoralist and prospector having played a part in thediscovery of the Star of Mangaroon and Diamond gold mines on his station. Lumpyalso discovered and drilled a gossanous outcropping Ni-CuPGE occurrence in theearly 1960s1. Drilling was along the base of a previously unrecognised layered ultramaficintrusion (“the Money Intrusion”), named after Drew Money who grew up musteringon Lyndon Station and who brought the project to Dreadnought’s attention. Inthe 1980s, Regional Resources NL conducted a regional assessment of theMangaroon area for gold and base metals including sampling over 5km strikealong the base of the Money Intrusion including Lumpy’s Find. This samplingprogram returned assays up to 1.2% Ni, 0.6% Cu and 4.7 g/t Pd-Pt-Au2. Despitethese encouraging results, no further exploration has taken place at Lumpy’sFind or along the Money Intrusion. Dreadnought has now undertaken tworeconnaissance trips to Lumpy’s Find and along the length of the MoneyIntrusion. This has confirmed Ni-Cu-PGE mineralisation in the form of blebby anddisseminatedtwo and three phase sulphides along over 20kms of strike along the MoneyIntrusion including rock chip values up to 0.51% Cu, 0.14% Ni and 0.9 g/tPd-Pt. With high tenor multiphase sulphides with pyrrhotite, chalcopyrite andpentlandite confirmed over a substantial strike length, exploration will focuson defining accumulations of massive sulphide using a combination of Heli andground-based EM, surface sampling and mapping. Target definition work atLumpy’s Find will continue over the summer with an aim to have drill targetsready for drilling in mid-2021.
- White Well & Mitchell' Find (Au)
➢25/11/2020- Mitchell’s Find and White Well are located on the Edmund Fault, a crustalscale splay of the Mt Lyons Fault representing a second major mineralisedstructure within the Mangaroon Project. Clarence Mitchell developed a smallgold mine from 1988-1990. There is no official record of the mining atMitchell’s Find. The shallow pit was visited and sampled during recentreconnaissance trips with rock chips returning gold results up to 16.4g/t Aufrom malachite stained quartz veins hostedwithin a splay off the Edmund Fault.White Well is located ~2.5 kms further along strike from Mitchell’s Find andconsists of a series ofcosteans and shallow diggings put in by prospectors whoworked the ground for several years. The only reports on their work indicatethat gold was panned and dollied with no record of production or any otherexploration work. Combined with Mitchell’s Find, White Well confirms the potentialof the Edmund Fault to host gold mineralisation. Dreadnought will undertakeultrafine soil sampling along the Edmund Fault with an aim to have drilltargets ready for drilling in mid-2021.
- Money Intrusion (Area 2)
➢identified as potential area of interest on Money intrusion, Rocksamples only, no drilling so far.
- Money Intrusion (Area 3)
➢ identified aspotential area of interest on Money intrusion, Rock samples only, nodrilling so far.
- Cullen's Find
➢25/11/2020 - In1986, a prospector named Peter Cullen drilled 7 RC holes for 352m into anoutcropping vein swarm along the crustal scale Minga Bar Fault. Peter sent off126m of drilling for gold analysis by fire assay returning a best intercept of3m @ 6.5 g/t Au from 26m including 1m @ 16.2 g/t Au from 28m. While his reportincluded assay certificates, there was no further information asides from ahand drawn map in a local grid. Accordingly, no other gold exploration work hastaken place at Cullen’s Find or along strike.
Yin (REE) (Drilling to be organised)➢01/09/2021 Initialmetallurgical results from outcropping rare earth elements (“REE”) ironstonesat Yin are encouraging with a 92.8% recovery into 3.55% of the original massfrom flotation test work.
• The concentrate grade was 12.3% Nd2O3 and ~40% total rare earth oxides(“TREO”). This represents a beneficiation Nd2O3 upgrade factor of ~26times from the calculated head grade of 0.47% Nd2O3. • Yin’s TREO arecomprised of a significant proportion of neodymium and praseodymium(Nd2O3+Pr6O11).Importantly, the TREO has been confirmed as being hosted predominantly inmonazite which is well-known to be amendable to commercial processing.
• The metallurgical results are comparable to results announced by HastingsTechnology Metals (ASX.HAS) for the nearby Yangibana deposits. ➢19/07/2021 High-gradeRare Earth Element (“REE”) ironstones confirmed over ~2.5kms of strike at theYin Prospect (Dreadnought 100%), located ~15kms southwest of the Yangibana REEProject (“Yangibana”) which is currently under construction and development byHastings Technology Metals Limited (ASX:HAS, “Hastings”). Significant rockchips results include:
• MNRK292: 7.50% TREO, including 2.73% Nd2O3+Pr6O11
• MNRK288: 4.77% TREO, including 1.84% Nd2O3+Pr6O11
• MNRK290: 4.76% TREO, including 1.73% Nd2O3+Pr6O11
• The total rare earth oxides (“TREO”) and the Nd2O3+Pr6O11 results from Yinexhibit similar mineralogical characteristics to Yangibana. In addition,samples have also been submitted to confirm similar metallurgicalcharacteristics.
• A ground magnetic survey confirms the Yin ironstones continue under shallowcover between outcrops. A detailed airborne magnetic-radiometric survey will beflown over all twelve of the currently identified REE prospects in the December2021 quarter.
Illaara
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Metzke's Find (Au)
➢29/10/2021- High-grade gold resource at Metzke’s Find in March quarter 2022
➢31/05/2021- Metzke’s Find is a shallow high-grade deposit potentially amenable toopen
cut mining. A Mineral Resource estimate for Metzke’s Find will be released inthe September 2021 quarter.➢13/07/2020- MZRC015: 2m @ 12.8 g/t Au from 51m including 1m @ 24.8 g/t Au from 51m
- MZRC016: 8m @ 8.1 g/t Au from 84m including 3m @ 21.0 g.t Au from 85m
- MZRC017: 13m @ 4.2 g/t Au from 48m including 7m @ 7.5 g/t Aufrom 51m
- MZRC018: 5m @ 2.4 g/t Au from 71m including 1m @ 11.3 g/t Aufrom 71m
Black Oak (Au)
➢•BORC009: 5m @ 0.8 g/t Au from 70m, including 1m @ 3.3 g/t Au from 73m
• BORC010: 18m @ 0.3 g/t Au from 138m, including 1m @ 1.8g/t Au from 141m➢11/05/2021 Drillinghas extended oxide and bedrock mineralisation at Black Oak. These results,combined with the recently completed detailed magnetic survey and gold-in-soilanomalies, continue to support that Black Oak may host a large mineralisedsystem. Black Oak has grown to over 3kms in strike and remains open to thesouth beyond an east-west Proterozoic mafic dyke with only 14 holes drilled todate. ➢31/05/2021 Workto date has highlighted a large mineralised system which has beeninadequately tested by drilling. Future work programs at Black Oak will
likely include wide spaced air core drilling to test for oxidemineralisation along the >3km strike length and to identify targets forRC drilling.
Kings (Fe)
➢29/10/2021-Resource evaluation drilling in June quarter 2022
49m @ 55.7% Fe, 9.1% SiO2, 3.1% Al2O3, 0.04% P, and 4.0% LOI from 13, Incl.11m @ 62.7% Fe, 2.5% SiO2, 1.2% Al2O3, 0.05% P and 6.1% LOI from 48m
P-North (Fe)
➢29/10/2021-Resource evaluation drilling in June quarter 2022
29m @ 58.6% Fe, 8.3% SiO2, 3.4% Al2O3, 0.04% P, and 4.0% LOI from 6m, Incl.16m @ 64.4% Fe, 2.4% SiO2, 1.3% Al2O3, 0.04% P and 3.7% LOI from 8m
P-3 (Fe)
20m @ 58.5% Fe, 2.9% SiO2, 1.9% Al2O3, 0.06% P, and 9.5% LOI from48m, Incl. 5m @ 60.3% Fe, 2.2% SiO2, 1.5% Al2O3, 0.03% P and 8.6% LOI from55m
Laurence Find (Au)
➢31/05/2021 RockChip 54.4gt
LWRC030: 3m @ 3.6 g/t Au from 30m
LWRC026: 1m @ 3.7 g/t Au from 5m
LWRC005: 18m @ 0.2 g/t Au from 30m
The program successfully confirmed 3 mineralised structures withsignificant intercepts controlled by cross cutting secondarystructures as seen in new high
resolution magnetics imagery. Follow up drilling will be targeted on thesecontrolling structural intersections.
Peggy Sue (Ta)
➢07/07/2021- Encouraging high-grade rock chips in first pass sampling at the Peggy Suecritical minerals prospect (“Peggy Sue”) with significant results including:• LRK046: 529ppm Ta2O5 • LRK067:391ppm Ta2O5 • LRK066: 295ppm Ta2O5• LRK100:357ppm Ta2O5 • LRK069: 310ppm Ta2O5 • LRK068:283ppm Ta2O5
P1 (Fe)
P-South (Fe)
CRA-Homestead(Au)
Central Illaara (Au)
Defiance (Au)
Spitfire (Au)
Nelson (VMS)So whatever great news come out on Monday, we have a whole lot more to come.
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