DRE 8.33% 2.2¢ dreadnought resources ltd

DRE Chart, page-2151

  1. 391 Posts.
    lightbulb Created with Sketch. 1237
    I’m also keen to see them drilling at the Star and surrounding prospects sometime this year.

    However, when they do decide to give that tree a shake, I hope its with a substantial drilling program. Based on what I’ve seen from the historical drilling IMO the worst thing they could do is just go and put a few holes into it, either because they are busy elsewhere or chasing a quick win.

    High-grade nuggety narrow-vein system with unknown controls on gold mineralisation…. the risk of coming up with dusters based on only a few holes is very real. Arguably the opposite is just as bad...drill a couple of holes and get spectacular grade over narrow veins and then this becomes the measuring stick going forward when in reality you’ve gotten lucky and cant replicate.

    Either one is to be expected…being the nature of this style of mineralisation, but the best way to mitigate this is if it’s part of a more expansive drilling program, where 1) you have the opportunity to understand the geology and controls on mineralisation; and 2) Its Easier to manage and temper the market expectations around that.

    Looking at the historical drilling I estimated around 3k meters of drilling would be preferable for an initial program to test along strike and down-dip and partially down plunge (acknowledging we don’t really know plunge) around the margins of the historical drill hits. Preferably diamond core, to unravel the structure and controls on mineralisation before planning the follow up. Goes without saying, but that’s entirely exploration/extensional not resource focused…that’s a separate issue in itself.
    ….which means time, resources, and budget considerations.

    My point is yes, all for DRE to drill at the Star of Mangaroon...when the time is right and they can afford to move rigs and resources away from the REE activity.
 
watchlist Created with Sketch. Add DRE (ASX) to my watchlist
(20min delay)
Last
2.2¢
Change
-0.002(8.33%)
Mkt cap ! $84.31M
Open High Low Value Volume
2.3¢ 2.4¢ 2.2¢ $42.96K 1.859M

Buyers (Bids)

No. Vol. Price($)
9 2032827 2.2¢
 

Sellers (Offers)

Price($) Vol. No.
2.3¢ 450000 5
View Market Depth
Last trade - 14.42pm 05/07/2024 (20 minute delay) ?
DRE (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.