Dreadnought kicks off “DD” at Yin Rare Earth discovery - The Pick Online Magazine

Dreadnought Resources Limited (ASX:DRE) has commenced diamond drilling at the Yin rare earth ironstone, within its 100% owned Mangaroon Project in the Gascoyne Region of Western Australia.

Diamond drilling has been designed to twin existing holes for QAQC and additional metallurgical sampling as well as drill deep extensional holes to test the thickest parts of the REE ironstone past 200m depth.

All this drilling will be incorporated into the initial JORC Resource for the Yin ironstone to be released in the December 2022 quarter.

Producing diamond core is always an exciting development as exploration programmes advance,” Managing Director, Dean Tuck , said.

“We look forward to producing the core required to increase confidence in our JORC resource at Yin as well as providing additional samples for further metallurgical test work and extending the fresh ironstone at depth.

“With the RC rig maintaining a steady pace, we look forward to informing the market when drilling at Y3 has commenced and providing updates on the diamond drilling over the next couple of months.”

SNAPSHOT – MANGAROON RARE EARTHS

100% Controlled by Dreadnought – Mangaroon REE are 100% owned and controlled by Dreadnought.

Genuine scale potential already at Yin with initial JORC Resource expected in the December 2022 quarter – Yin already contains 3km of mineralised strike and remains open along strike and at depth.

Significant, Step-Change, Growth Potential Beyond Yin

• Mineralised Y2 and Y3 REE ironstones confirmed – drilling in August 2022.
• Five carbonatite targets (C1-C5) may be the regional source of REE – drilling in September 2022.
•  Confirmed mineralisation at 13 outcropping targets with another 3 prospective, undercover targets – drilling planned.
• 125 additional anomalies prospective for REE identified – currently under assessment.

High-Grade TREO potential

• Assays from first line of drilling at Yin contain high-grade REE including: o YINRC005: 15m @ 4.08% TREO from 105m o YINRC001: 10m @ 6.05% TREO from 11m o YINRC002: 7m @ 3.47% TREO from 29m
  • YINRC003: 11m @ 3.11% TREO from 58m

• Rock Chips up to 39.7% TREO (6.30% Nd2O3+Pr6O11) from Y3.

High-grade Neodymium and Praseodymium Potential

• Yin, like the Yangibana REE project controlled by the ~$450M Hastings Technology Metals Ltd (ASX.HAS), appears to be a globally unique REE deposit due to the high proportion of neodymium and praseodymium in the total rare earth oxide (NdPr ratio).

Positive Metallurgy Results

•  Initial metallurgical work from Yin performed well, achieving a recovery of 92.8% at a concentrate grade of 12.3% Nd2O3 and an average 40% TREO.
• Minerals hosting the REE at Yin are predominantly monazite which are 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.
• Yangibana currently has a JORC 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 & Prices

• Supply chain security and low carbon transition are imperatives against a backdrop of heightened geopolitical tension pushing supply away from China.

Diamond Drilling Programme

The diamond drill program has been designed to achieve three objectives: – Twin RC holes to allow for a QAQC assessment of the RC drilling – Twin RC holes to produce samples for further metallurgical test work – Test the thickest parts of the Yin ironstones beyond 200m depth

The combination of these objectives will provide: further geological understanding of the deposit; initial JORC Resource classifications; further assessment of the metallurgical performance of the ironstones; and extensions of the deposit to depth where the thickness and grade of the ironstone justifies deep drilling beyond 200m depth.

Currently, 16 of the QAQC and metallurgical holes have been planned with the last 3 to be planned once infill drilling is complete. As RC drilling advances to the Y3 ironstone and the C1-C5 carbonatites, additional diamond drill holes may be added as required.

https://www.dreadnoughtresources.com.au/