Dreadnought Resources (ASX:DRE) reports it has confirmed a ‘high-grade’ and high resource intensity deposit covering 3km of the 30km long Yin Ironstone Complex at the 100% owned Mangaroon located in the Gascoyne Region of Western Australia.
Outcropping REE mineralisation was first observed at Mangaroon in July 2021. Since then, 30km of REE bearing ironstones and 7 carbonatite intrusions have been identified.
Dreadnought’s drilling at Yin was conducted by Ausdrill using reverse circulation (RC) drilling and by Hagstrom using diamond (DD) drilling techniques.
To date, 257 RC holes and 23 diamond holes have been drilled along the Yin REE Ironstone Complex and C1-C5 Carbonatites. The first drillholes ever drilled into this newly discovered complex commenced in June 2022.
Dreadnought’s Managing Director Dean Tuck says: “Since drilling commenced in June 2022, Dreadnought has delivered a substantial initial resource over just 3km of Yin paving the way for significant Resource growth drilling in 2023.
The initial independent resource confirms Yin as a ‘high-grade’ and high resource intensity deposit. Both material factors in a project’s economics.
“Yin also has some of the highest NdPr:TREO ratios in the world. We are proud of how much has been achieved in such a short space of time”
Yin also has some of the highest NdPr:TREO ratios in the world. We are proud of how much has been achieved in such a short space of time. We are also looking forward to building on our success in 2023.”
Dreadnought reports that the first 6 months of drilling has delivered 3 REE ironstones discoveries (Yin, Sabre and Y8), including an independent Resource at Yin and defined significant REE-Nb-Ti-P mineralisation at the C1-C5 carbonatites.
The initial independent resource at Yin covers only 3km of the Yin Ironstone Complex and has delivered a significant high-grade foundation for substantial resource growth. The initial inferred resource is based on 2.5 months of RC drilling (117 holes | 11,907m) between June-August 2022.
Dreadnought notes the robust nature of the initial Yin Resource is demonstrated by significant contained Nd+Pr at various cut-off grades with the lowest (0.20% TREO) approximating the cut-off used at the Yangibana Project belonging to Hastings Technology.
The resource is expected to grow substantially as drilling advances on these fronts in 2023.
Dreadnought reports all approvals are now in place to continue drilling along strike from Yin and Sabre which will start in February/March 2023. This drilling is expected to deliver additional resources and resource upgrades along the 30km long Yin Ironstone Complex.
All approvals at C1-C6 are also in place with drilling to commence in March 2023.
Assays from initial drilling at Sabre, Y8 and the C1-C5 carbonatites are expected in January/February 2023.
Mangaroon is located 250km south-east of Exmouth, in the Gascoyne Region of Western Australia.
Dreadnought’s 100% owned areas contain outcropping high-grade REE ironstones, similar to those under development at Yangibana. In addition, the C1-C7 carbonatites also owned 100% by Dreadnought, may be the source of the regional REE mineralisation.
Write to Adam Orlando at Mining.com.au
Images: Dreadnought Resources Ltd
