Dreadnought Resources (ASX:DRE) has been awarded two Exploration Incentive Scheme (EIS) co-funded drilling grants for its Mangaroon Rare Earth Elements (REEs), and Tarraji-Yampi Copper-Silver-Gold-Cobalt (Cu-Ag-Au-Co) Projects in Western Australia.
As part of the EIS grant awarded by the Western Australian government, each project will receive $220,000 to fund exploration.
Dreadnought states the grant for the Mangaroon REE Project will be utilised to drill into the Yin REE Ironstone Complex at depth, with diamond drilling set to begin in July 2023.
“the awarding of these grants further recognises the technical merits of the Mangaroon REE and Tarraji-Yampi Orion discoveries”
Meanwhile at the Tarraji-Yampi Project, the grant will be utilised to drill the Orion massive sulphide deposit at depth, with diamond drilling beginning in October 2023.
Commenting on the EIS grants, Dreadnought Resources Managing Director, Dean Tuck said: “The program is highly competitive, and the awarding of these grants further recognises the technical merits of the Mangaroon REE and Tarraji-Yampi Orion discoveries.
A previous EIS grant helped with the Mangaroon REE discovery, and we are again thankful to the Geological Survey and the State of Western Australia for continuing to support explorers in our pursuit of discovery.”
The company reports that the EIS funding is managed by the Geological Survey and Resource Strategy Division of the Department of Mines, Industry Regulation and Safety (DMIRS) to stimulate exploration leading to mineral discoveries.
Additionally, these grants are based on the technical merit of the drill target and Dreadnought was 1 of 36 successful applicants.
Mangaroon is located in the Gascoyne region of Western Australia and covers an area of 5,300km. Part of the project is targeting nickel-copper-platinum group elements and is subject to a joint venture with First Quantum Minerals (TSE:FM).
Dreadnought controls the second largest land holding in the ‘highly’ prospective West Kimberley region of Western Australia. The main project area, Tarraji-Yampi is located 85km from Derby.
Dreadnought Resources is a ‘highly’ active Western Australian mineral explorer. The company is focused on its 4 core projects, the Tarraji-Yampi, Mangaroon, Central Yilgarn, and Bresnahan projects.
