Dreadnought Resources (ASX:DRE) reports that it has intersected neodymium (Nd) and praseodymium (Pr) TREO grades of up to 46% following a reverse circulation (RC) drilling program at its 100% owned Mangaroon project in WA’s Gascoyne region.
The results, generated by an additional 43 RC holes at the Yin prospect, indicate that the Nd-Pr:TREO ratio is increasing to the north of the project tenement, where drilling has returned NdPr:TREO values of up to 46%, over double the global average.
Results also continue to confirm the presence of thick, ‘high-grade’ rare earth element (REE) mineralisation at the Yin ironstone discovery, with ‘significant’ intercepts including; 31m at 1.64% TREO from 62m, including 6m at 6.73% TREO (31% NdPr:TREO) from 83m (drillhole YINRC058).
Other significant intercepts include; 24m at 1.17% TREO from 94m, including 4m at 4.11% TREO (39% NdPr:TREO) from 95m (drillhole YINRC082) and 24m at 2.57% TREO from surface, including 11m at 4.50% TREO (28% NdPr:TREO) from 8m (drilhole YINRC083).
RC drilling is now focused on the C1-C5 carbonatites, while the diamond drilling (DD) rig continues to drill twin holes at Yin in preparation for an initial JORC Mineral Resource Estimate (MRE) scheduled for December 2022 quarter.
Speaking on the results, Dreadnought’s Managing Director, Dean Tuck, stated: “Yin continues to deliver exceptional REE results. With 84 of 120 holes reported, we remain on schedule to deliver our initial JORC resource at Yin in the December 2022 quarter.
“Yin continues to deliver exceptional REE results. With 84 of 120 holes reported, we remain on schedule to deliver our initial JORC resource at Yin in the December 2022 quarter.”
Importantly this initial JORC Resource will only cover 3km of the interpreted 16km of strike of Yin. Drilling of C1-C5 carbonatites is progressing well with updates expected shortly.”
The company also notes that drilling to date has focused on the first 3km of confirmed mineralised, which remains open along an additional 13kms of strike that will be the focus for planned future extensional drilling to aid in the definition of the December 2022 JORC MRE.
In addition, it is believed that the seven identified carbonatite targets (C1-C7) could possibly be the regional source of REE mineralisation and may deliver ‘significant’ growth potential beyond the Yin Ironstone Complex.
To date, REE mineralisation has been confirmed at 22 outcropping targets with another 10 prospective targets requiring further work, while an additional 100 targets prospective for REE mineralisation have been identified and are currently under assessment.
Dreadnought Resources is an ASX-listed, highly active Western Australian mineral explorer focused on finding the metals needed now and in the future. The company’s Mangaroon project represents a first mover opportunity, covering a land holding of about 4,900km-square located about 250kms southeast of the township of Exmouth in WA’s vastly underexplored Gascoyne region. The project is subject to a joint venture with First Quantum Minerals, with the Canadian-based mining and metals company potentially earning 70% interest in all associated tenements.
With final results from the RC drilling program still yet to be received, Dreadnought announces that updates from drilling at C1-C5 are expected shortly.
Images: Dreadnought Resources Ltd