Dreadnought Resources (ASX:DRE) reports the presence of continuous ‘high-grade’ rare earth ironstones following a reverse circulation (RC) drilling campaign at the Yin deposit, as part of its 100% owned Mangaroon Project in Western Australia.
The results, generated by an additional 35 RC drillholes out of 120 drillholes conducted along the first 3km of Yin, have continued to confirm thick, ‘high-grade’, REE mineralisation at the Yin deposit, with ‘significant’ intercepts including:
- Hole YINRC008: 26m @ 1.31% TREO from 16m, incl. 8m @ 2.55% TREO (30% NdPr) from 28m
- Hole YINRC028: 50m @ 0.72% TREO from 72m, incl. 5m @ 2.81% TREO (32% NdPr) from 98m
- Hole YINRC027: 19m @ 1.15% TREO from 52m, incl. 8m @ 2.33% TREO (36% NdPr) from 61m
Addressing the results, Dreadnought’s Managing Director, Dean Tuck, stated: “Yin continues to deliver exceptional REE results that exceed expectations for the ironstones of the Gifford Creek Carbonatite Complex. We look forward to receiving the remaining assay results from the 120 RC holes drilled to date which will compromise our initial JORC resource at Yin.
“Yin continues to deliver exceptional REE results that exceed expectations for the ironstones of the Gifford Creek Carbonatite Complex”
Importantly, this initial JORC resource will only cover 3km of the 16km of strike of the Yin Trend.
We are also excited to announce in a parallel announcement the discovery at Sabre (formerly known as Y3) and look forward to drilling the C1-5 carbonatite targets.”
The company also notes that the NdPr:TREO ratio continues to increase to the north, with analysis indicating that the Yin trend potentially boasts over ~16kms of strike and has returned values up to 40%, nearly doubling the global average.
In addition, activities within the project’s Sabre deposit have defined 1km of confirmed mineralised strike that remains open along strike and is expected to aid in a JORC Mineral Resource Estimate (MRE) scheduled in March 2023.
Also, it is believed that seven identified carbonatite targets (C1-7) have potential to be the regional source of REE mineralisation, with drilling planned for September.
The Mangaroon Project is located within the Gascoyne Region of Western Australia and covers a total land area of ~4,900km-square, with the majority of the project area and associated tenements being wholly owned by Dreadnought and part of the project representing a joint venture with First Quantum Minerals (TSE:FM).
The region is host to ‘high-grade’ gold mineralisation at the Bangemall/Cobra and Star of Mangaroon gold mining centres, as well as the high NdPr Yangibana REE deposits.
With assays from the recently completed RC drilling campaign continuing to return, Dreadnought announces that it remains focused on defining a JORC MRE by March 2023 and will move forward with additional drilling campaigns at Sabre and Yin in the September quarter of 2022.
Images: Dreadnought Resources Ltd
