Mapping And Sampling Continues To Identify New Areas
Dreadnought Resources Limited (ASX:DRE) continues to identify significant upside through its mapping and surface sampling of the Money Intrusion at the Mangaroon Project, located ~250 km from Exmouth in Western Australia. This work is fully funded by First Quantum Minerals (FQM).
Over 45kms of the Money Intrusion has now been mapped and sampled with 32 areas of outcropping high tenor, three phase blebby sulphides composed of pyrrhotite, chalcopyrite and pentlandite.
Furthermore, gossanous material near Bookathanna Bore exhibits heavily disseminated, stringer and net sulphide textures and stretches >1km along the Money Intrusion contact with adjacent granite.
Managing Director, Dean Tuck, said that due to the number of sulphide occurrences identified through mapping, a ground-based EM survey will commence in the September 2021 quarter at the Bookathanna Bore and Lumpy’s Find prospects.
“Identifying outcropping gossanous material along the Money Intrusion is an encouraging development further underscoring the potential for Ni-Cu-PGE mineralisation,” Mr Tuck said.
“The systematic approach taken continues to bear fruit and we look forward to the results of the ground electromagnetic survey to define drill targets.”
To date, ~45kms of the Money Intrusion have been mapped. Mapping has largely focused on the eastern margin of the intrusion which contained the known occurrences of sulphide mineralisation. However, sulphide and gossanous occurrences have now also been identified on the western margin, opening up significantly larger search area.
Furthermore, there are now 32 areas identified as containing outcropping sulphide mineralisation. Over 200 rock chip samples have been collected to both characterise different phases within the intrusion and to confirm mineralisation. Results for these samples are due in August 2021.
Due to the number of sulphide occurrences, a ground EM survey will be undertaken along significant portions of the Money Intrusion in order to define conductors for drill testing. The EM survey will commence in the September 2021 quarter.
In addition, the mapping results are also broadly supported by recent soil survey results.
Mangaroon covers >4,500 sq. kms of the Mangaroon Zone in the Gascoyne Region of Western Australia. The region is host to high-grade gold mineralisation at the Bangemall/Cobra and Star of Mangaroon Gold mining centres and the high grade Yangibana REE deposits. During most of the regions early history, it did not receive government support for prospecting and or exploration resulting in a vastly underexplored region in Western Australia.
Dreadnought has located outcropping high-grade gold bearing quartz veins along the Edmund and Minga Bar Faults, outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion and outcropping high-grade REE ironstones, similar to those under development at the Yangibana REE Project. Mangaroon is still in the early stages with limited modern exploration.
For further information please visit: https://www.dreadnoughtresources.com.au/
