Dreadnought Resources (ASX:DRE) reports a 94% increase in ‘high-confidence’ indicated ounces at its Metzke’s Find resource in Western Australia.
The updated mineral resource estimate (MRE) delivers 24,900 ounces @ 5.20 grams per tonne gold for a total of 150,100 tonnes, with 84% of the resource now classified in the indicated category.
Fresh rock represents the majority of mineralisation, totaling 134,000 tonnes grading 5.50g/t for 23,600 ounces.
Managing Director Dean Tuck notes the updated and upgraded MRE also reflects “where those ounces sit”, which is “equally important”.
“50% more gold is now contained within the top 50m, which will have a meaningful positive impact on project economics and cashflow for our mining study,” Tuck says.
Metzke’s Find sits on a granted mining lease within the company’s 100%-owned Illaara Gold Project, located 190km northwest of Kalgoorlie in Western Australia’s Yilgarn region.
Dreadnought has completed 101 reverse circulation holes and six diamond holes at the project since 2025.
Previous metallurgical testwork confirmed free-milling coarse gold with gravity recovery at 78.5% and overall recovery rates averaging 98.9%.
The deposit remains open at depth and along strike, with further drilling commencing in July 2026.
The company says open pit study is in progress, as well as discussions to commercialise Metzke’s Find.
Dreadnought Resources is a minerals explorer focused on discovering and developing gold, base metals, and critical minerals, including rare earths, copper, niobium, and cobalt.
Write to Paula Fabe at Mining.com.au
Images: Dreadnought Resources
