Dreadnought Resources Limited (ASX: DRE) has unveiled the initial Resource covering only three km of the ~30km long Yin Ironstone/REE Complex at the 100% owned Mangaroon property, located in the Gascoyne Region of Western Australia.
The initial Resource of 14.36Mt @ 1.13% TREO is based on 2.5 months of RC drilling (117 holes | 11,907m) between June-August 2022.
“Since drilling commenced in June 2022, Dreadnought has delivered a substantial initial Resource over just three km of Yin paving the way for significant Resource growth drilling in 2023,” Managing Director, Dean Tuck, said.
“The initial independent Resource confirms Yin as a high-grade and high Resource intensity deposit. Both material factors in a project’s economics. Yin also has some of the highest NdPr:TREO ratios in the world.
“We are proud of how much has been achieved in such a short space of time. We are also looking forward to building on our success in 2023.”
Outcropping REE mineralization was first observed at Mangaroon in July 2021. Since then, ~30kms of REE bearing ironstones and seven carbonatite intrusions have been identified.
To date, 257 RC holes and 23 diamond holes have been drilled along the Yin REE Ironstone Complex and C1-C5 Carbonatites. The first drill holes ever drilled into this newly discovered complex commenced in June 2022.
The first six months of drilling has delivered three REE ironstones discoveries (Yin, Sabre and Y8), including an independent Resource at Yin and defined significant REE-Nb-Ti-P mineralisation at the C1-C5 carbonatites.
The initial independent Resource at Yin covers only three km of the Yin Ironstone Complex and has delivered a significant high-grade foundation for substantial Resource growth. The Initial inferred Resource is based on 2.5 months of RC drilling (117 holes | 11,907m) between June-August 2022.
The robust nature of the initial Yin Resource is demonstrated by significant contained Nd+Pr at various cut-off grades with the lowest (0.20% TREO) approximating the cut-off used at the Yangibana Project belonging to Hastings Technology:
The Resource does not include drilling at:
– the Yin south-east, Sabre and Y8 ironstones;
– the nine extensional RC holes which extended the Yin ironstone mineralization at depth and which remains open at depth and along strike; and
– the C1-C7 carbonatites.
The Resource is expected to grow substantially as drilling advances on these fronts in 2023.
All approvals are now in place to continue drilling along strike from Yin and Sabre which will commence in February / March 2023. This drilling is expected to deliver additional Resources and Resource upgrades along the 30km long Yin Ironstone Complex.
All approvals at C1-C6 are also in place with drilling to commence in March 2023.
Assays from initial drilling at Sabre, Y8 and the C1-C5 carbonatites are expected in January/February 2023.
For further information please visit: https://www.dreadnoughtresources.com.au/
