Western Australian mineral explorer Dreadnought Resources (ASX:DRE) has extended the current strike of the Yin Rare Earth Element (REE) Ironstone Complex to up to 43km at its 100% owned Mangaroon Project in Western Australia.
The company says the extension represents a 30% increase to the REE ironstone complex and has been achieved following regional sampling activities. Dreadnought has also identified 2 additional ironstone trends, named Y42 and Y9, with Y42 producing some of the highest neodymium-praseodymium:Total Rare Earth Oxide (NdPr:TREO) ratios to date.
Key results include sample MNRK0575 with 8.00% TREO, 1.71% neodymium+praseodymium (Nd2O3+Pr6O11) (21% NdPr:TREO) from Y8; sample MNRK0602 with 4.68% TREO, 2.25% Nd2O3+Pr6O11 (48% NdPr:TREO) from Y24; and sample MNRK0612 with 5.12% TREO, 2.26% Nd2O3+Pr6O11 (44% NdPr:TREO) from Yin.
Dreadnought also notes further surface sampling over the largely undercover C7 carbonatite has confirmed the presence of REE mineralisation that shares similarities to early results at the C3 and C4 carbonatites.
Drilling of the Yin Ironstone Complex and the C1-7 carbonatites is expected to commence in February/March this year.
Addressing the results, Dreadnought Managing Director Dean Tuck says: “These results further emphasise the ever-increasing scale of the critical metals at Mangaroon. With only one surface sampling program we have: increased the mineralised ironstones by over 40%; confirmed increasing NdPr:TREO ratios at Yin; discovered two new ironstones at Y9 and Y42; and confirmed that the C7 carbonatite is mineralised.
“These results further emphasise the ever-increasing scale of the critical metals at Mangaroon.”
With over 43km of mineralised ironstones, a multi-metal, regional source at C3 and six more potential source carbonatites, we are extremely excited about what the drill rigs will deliver for us in 2023.”
The company also notes with the exploration success over the past 18 months, it has expanded the scale of the Gifford Creek Ferro Carbonatite Complex, including Hasting’s Yangibana and Dreadnoughts Yin, as defined by the outer REE bearing ironstones to 35km by 25km.
In addition, Dreadnought has also confirmed a source carbonatite intrusive plug at C3 with other sources potentially following at C1-C2, and C4-C7 that sit within the centre of the complex, and are within the crustal scale structure, the Lyons River Fault.
As of 10am AWST Dreadnought Resources’ share price has increased by 6.382%.
Dreadnought Resources is an ASX-listed, Western Australian mineral explorer focused on finding the metals needed now and in the future. The company’s Mangaroon project is located in the Gascoyne Region and covers a total landholding of 5,300km-square across 7 licences wholly-owned by Dreadnought, and 5 licences under an earn-in with First Quantum Minerals (TSE:FM).
The project is considered prospective for ‘high-grade’ gold mineralisation at the Bangemall/Cobra and Star of Mangaroon gold mining centres, and high NdPr:TREO ratio at Yangibana REE deposits. The project currently has a JORC 2012 Mineral Resource Estimate (MRE) of 29.93 million tonnes (Mt) @ 0.93% TREO with 0.32% Nd2O3+Pr6O11 (34% NdPr:TREO), which is under construction and development.
Other projects included in Dreadnought’s arsenal includes the Tarraji, Yampi, Wombarella, Mt Humbert, and King Creek Projects in Western Australia’s Kimberley region, which make up the second largest landholding in the region, as well as the Bresnahan Heavy Rare Earth Element (HREE) and Gold Project in the Ashburton Basin of Western Australia.
Images: Dreadnought Resources Ltd