Dreadnought Resources Limited (ASX:DRE) has intersected further thick REE-Nb-P mineralisation at the C3 carbonatite intrusion at Mangaroon project in Western Australia.
The RC and diamond drilling programme at Mangaroon is now complete for 2022 and will recommence in February/March 2023.
Assay results from Sabre, Y8, C1-C5 and additional drilling at Yin will continue to flow through February/March 2023. In addition to the assays, the initial Yin Resource remains on schedule to be released in December 2022 and detailed metallurgical studies will be released in April 2023.
Drilling of the C1-C5 carbonatites continues to exceed expectations, delivering thick intercepts up to and in excess of 200m consisting of rare earths, niobium, and phosphorus from the ~600m x 550m mineralised zone at C3,” Managing Director, Dean Tuck, said.
“Dreadnought would like to thank DMIRS and the EIS grant for supporting the first pass RC drilling at C1-C5. We look forward to a steady stream of assay results and related news flow into 2023 while we prepare for an even bigger year ahead.”
The objective of this programme was to confirm the extent and complexity of the interpreted carbonatite intrusions, define zones of mineralisation and to better understand the cover regolith and depth of weathering.
The first pass programme has delivered numerous successes including:
- six coherent zones of REE mineralisation plus Ti, Nb and/or P including at C3 where an extensive 600m x 550m zone has been delineated and remains open;
- thick mineralised intercepts in both weathered and fresh carbonatites;
- multiple carbonatite and syenite intrusions, confirming a carbonatite-alkaline intrusive complex;
- highly weathered carbonatite up to 152m depth which could host residual mineralisation; and
- a more extensive carbonatite intrusive complex than previously interpreted, almost doubling in size to ~6.5kms in strike length x one km wide.
The drilling successfully intersected mineralisation in both the weathered rock and the underlying fresh carbonatite. A highly prospective Ba-Fe rich ferro-magnesiocarbonatite has been consistently intersected in multiple holes, including being mineralised from surface to a 201m end of hole depth in CBRC084 and CBRC087. Mineralisation in the weathered profile was magnetic, and remains open in all directions including the East, where a highly magnetic portion of the C3-C4 carbonatites remains untested that will be drilled in February/March 2023.
Mangaroon covers >5,300 sq kms of the Mangaroon Zone in the Gascoyne Region of WA. Part of the project is targeting Ni-Cu-PGE and is subject to an earn in with First Quantum Minerals Ltd (earning up to 70%).
The region is host to high-grade gold mineralisation at the Bangemall/Cobra and Star of Mangaroon gold mining centres and the high NdPr:TREO ratio Yangibana REE deposits.
Dreadnought has located outcropping high-grade gold bearing quartz veins along the Edmund and Minga Bar Faults, outcropping high-grade REE ironstones, similar to those under development at Yangibana and outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion.
