Dreadnought Resources (ASX:DRE) has received promising returns from rushed assay results from RC drilling at Bookathanna North along the 45km long Money Intrusion part of the Mangaroon Ni-Cu-PGE Project, located in the Gascoyne Region of Western Australia.
Dreadnought’s Managing Director, Dean Tuck, said the results have confirmed the potential of the project area.
“For the past two years, the work programmes at the Money Intrusion have focused on confirming the fertility, high tenor and potential to form sulphide accumulations.
“This programme has been a major leap forward confirming massive and semi-massive sulphides within thick halos of disseminated and net textured sulphides at a trap site within the Money Intrusion.
“These assay results have now confirmed observations and interpretations to date, further underscoring the potential of the Money Intrusion to host significant Ni-Cu-Co-PGE sulphide mineralisation.
“There are two key outcomes from this program. Firstly, that the Money Intrusion can form high tenor massive sulphides and that the search for additional trap sites is an imperative. Secondly, given the high tenor of mineralisation, massive sulphides are not required for high-grade mineralisation and geophysical techniques used to date need to be broadened.
“We look forward to re-assessing the entire Money Intrusion, including follow up geophysics and drilling at Bookathanna North later in 2023.”
Original programme
The drill program was originally designed as five RC holes with DHEM to test five EM conductors within the Money Intrusion (two at Bookathanna North and three at High Range). Following the intersection of massive sulphides in the first hole, an additional five holes were drilled at Bookathanna North infilling and then stepping out north and south along strike. A total of 10 holes have been drilled (1,074m) with seven holes at Bookathanna North and three at High Range.
Importantly, six of the seven holes at Bookathanna North intersected thick (10-50m) disseminated and net textured Ni-Cu sulphides within the footwall olivine dolerite.
The assay results have confirmed the high tenor mineralisation which importantly include significant palladium, platinum, gold (“3PGE”) and cobalt credits. The 3PGE credits are made up of ~70% palladium, ~20% platinum and ~10% gold.
At High Range, three holes were drilled (REYRC020-22, 255m) targeting three conductive plates ranging from 450-900S. These holes intersected sheared metasediments within the Edmund Group explaining the EM conductors. These results will be incorporated into the overall reassessment of the entire Money Intrusion.
DHEM surveys of the holes drilled is currently underway and an IP survey is expected to commence in October 2023.
