Dreadnought Resources Limited (ASX:DRE) has continued to confirm thick, high-grade ironstones at Yin, within its 100% owned Mangaroon Project in the Gascoyne Region of Western Australia.
Assay results from 41 holes of 120 RC holes drilled along the first ~three km of Yin have now been reported. The RC rig has moved on to the Sabre discovery where drilling is ongoing. The diamond rig continues to drill twin holes at Yin in preparation of an initial JORC Resource due in the December 2022 quarter.
“Yin continues to deliver exceptional REE results that exceed expectations for the ironstones of the Gifford Creek Carbonatite Complex,” Managing Director, Dean Tuck, said.
“We look forward to receiving the remaining assay results from the 120 RC holes drilled to date which will comprise our initial JORC resource at Yin. Importantly this initial JORC resource will only cover ~three km of the ~16km of strike of the Yin Trend.
“We are also excited to announce in a parallel announcement the discovery at Sabre (formally known as Y3) and look forward to drilling the C1-5 carbonatite targets.”
Highlights:
100% Controlled by Dreadnought
• Mangaroon REE are 100% owned and controlled by Dreadnought.
Genuine Scale Potential Already at Yin and Sabre
• Yin discovery contains 3km of confirmed mineralised strike and remains open along 16kms of strike – JORC Resource in December 2022 quarter, extensional drilling over 13km of strike planned.
• Sabre discovery contains ~1km of confirmed mineralised strike and remains open along strike – JORC Resource in March 2023 quarter, extensional and infill drilling planned.
• Long term incentives fully triggered at JORC Resource of at least 30Mt @ >1% TREO, 31 December 2024.
Significant, Step-Change, Growth Potential Beyond Yin and Sabre
• Mineralised Y8 REE ironstones confirmed – drilling in September 2022.
• Seven carbonatite targets (C1-C7) may be the regional source of REE – drilling in September 2022.
• Confirmed mineralisation at 22 outcropping targets with another 10 prospective targets requiring further work – drilling planned.
• 100 additional outcropping targets prospective for REE identified – under assessment.
High-Grade TREO Potential
• Numerous thick, high-grade assays already announced from first drill program at Yin. High-grade Neodymium and Praseodymium Concentrate Potential
• Yin, like the Yangibana REE project controlled by the ~$550M Hastings Technology Metals Ltd is a globally unique REE deposit due to the high proportion of neodymium and praseodymium in the total rare earth oxide (NdPr ratio). NdPr values up to ~40%, nearly double the global average.
Positive Metallurgy Results
• Initial metallurgical test work from Yin performed well, achieving a recovery of 92.8% at a concentrate grade of 12.3% Nd2O3 and an average 40% TREO.
• Yin is predominantly hosted in monazite which is amenable to commercial processing.
Analogous to a Globally Unique, Commercially Viable Development 25kms Away
• Yangibana is Dreadnought’s immediate neighbour located only 25km to the northeast of Yin and currently has a JORC Estimated Resource* of 27.42Mt @ 0.97% TREO with 0.33% Nd2O3+Pr6O11.
• Yangibana is under construction and development with first production planned for 2024. Global Strategic Imperative Driving Rare Earth Growth and Prices
• Supply chain security and low carbon transition are imperatives against a backdrop of heightened geopolitical tension pushing supply away from China.
For further information please visit: https://www.dreadnoughtresources.com.au/
