REE WA project

Dreadnought continues to intersect ‘thick’ rare earth ironstones at Yin prospect, WA

Dreadnought Resources (ASX:DRE) has again intersected ‘thick, mineralised’ rare earth element (REE) ironstones at the Yin prospect within its 100% owned Mangaroon Project in the Gascoyne Region of Western Australia.

The company reports that 67 reverse circulation (RC) holes for 6,415m have been drilled to date and that ‘encouragingly’, 87% of holes drilled have intersected mineralisation, as confirmed by portable x-ray fluorescence (pXRF) in the field.

Dreadnought said drilling has now confirmed mineralisation over 3km of strike, with the ironstones remaining open in all directions and at depth.

Given the ‘outstanding’ success of the RC program, a diamond drill rig is currently mobilising to site and will start diamond drilling in late July 2022.

Commenting on the drill program Dreadnought Managing Director Dean Tuck said: “Drilling at Yin continues to exceed expectations. With a second rig mobilising to site, we are confident that Yin will produce a substantial initial rare earth Mineral Resource by the end of the year.

“Once drilling at Yin is complete, the rigs will move to Y3 and C1-C5 to test additional REE targets”

Once drilling at Yin is complete, the rigs will move to Y3 and C1-C5 to test additional REE targets.

We are seeing genuine scale here with runs already on the board and 66 further anomalies recently identified. We also expect to confirm high-grade potential with first assays due back in late July 2022.

An initial JORC Mineral Resource Estimate (MRE) at Yin is expected in the December 2022 quarter.

Extensional drilling will also continue in order to extend the mineralisation beyond the 3km of strike.

All REE mineralisation has been confirmed in the field by a handheld pXRF unit. Over 4,000 samples have been rushed for analysis with the first assays delayed in the lab and now expected in late July 2022.

Mangaroon is a ‘first-mover opportunity’ covering 4,500km-square located 250km south-east of Exmouth in the vastly underexplored Gascoyne Region of WA. Part of the project is targeting Ni-Cu-PGE and is subject to a joint venture with First Quantum Minerals (earning up to 70%).

The JV area contains outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion. Dreadnought’s 100% owned areas contain outcropping ‘high-grade’ gold bearing quartz veins along the Edmund and Minga Bar Faults and outcropping high-grade REE ironstones, similar to those under  development at the Yangibana REE Project.

Recently six potentially REE bearing carbonatite intrusions have been identified which may also be the source of the regional rare earths.

Dreadnought controls the second-largest land holding in the highly prospective West Kimberley region of WA. The main project area, Tarraji-Yampi, is located only 85km from Derby and has been locked up as a Defence Reserve since 1978.

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Written By Adam Orlando Editor-in-Chief Adam Orlando has more than 20 years’ experience in the media having held senior roles at various publications, including as Asia-Pacific Sector Head (Mining) at global newswire Acuris (formerly Mergermarket). Orlando has worked in newsrooms around the world including Hong Kong, Singapore, London, and Sydney.