Dreadnought Resources Limited (ASX: DRE) has announced an encouraging update on the recently completed ultra-fine fraction soil survey at Central Illaara, part of its Illaara Gold-VMS Project in WA.
The company said that multiple gold in soil anomalies with strong pathfinder associations were defined within the ~10km long Central Illaara Prospect. DRE reported that the geochemical zonation indicates an intrusion related gold system.
The company noted that the WA State Government Exploration Incentive Scheme (EIS) co-funding ($125,000) and RC drilling approvals are in place for Illaara Central.
The company announced that geological mapping is being planned to further constrain targets for drill testing in 2020.
Illaara is located 160km northwest of Kalgoorlie in the Yilgarn Craton and covers 75kms of strike along the Illaara Greenstone Belt. Illaara is prospective for typical Archean mesothermal lode gold deposits and Cu-Zn VMS mineralisation.
The Illaara Greenstone Belt has now been consolidated through an acquisition from Newmont and subsequently the purchase of Metzke’s Find and an option to acquire 100% of E30/485 and E29/965. Newmont defined several camp-scale targets which were undrilled due to a change in corporate focus. Historically, gold was discovered and worked at Metzke’s Find and Lawrence’s Find in the early 1900s.
Illaara contains several drill ready gold targets. In addition, the Eastern and Western VMS Horizons are expected to produce exciting drill targets with the application of modern exploration technology.
Central Illaara (E30/471 and E30/476) within the Illaraa project was originally defined by the previous owner, Newmont, as a 10km long orogenic gold prospect.
Standard soil sampling highlighted a large alkali intrusion related multi-element anomaly in close association with magnetic anomalism.
WA Government grant
DRE announced that, in November 2019, the Central Illaara prospect qualified for an WA State Government Exploration Incentive Scheme (EIS) grant of $125,000 for 50% of the RC drilling cost.
Soil survey at Illaara
The company reported that it has completed an ultra-fine fraction soil survey at Central Illaara, part of the Illaara Gold-VMS Project.
Dreadnought said that it had undertaken three ultra-fine fraction soil surveys and drilled two stratigraphic RC holes (IRC009, IRC010) at Illaara Central.
DRE reported that the survey was designed to infill and refine gold in soil anomalies and to generate targets for RC drill testing in 2020.
DRE announced that the survey has successfully defined multiple gold in soil anomalies associated with prospective structures and interpreted blind intrusions.
Multiple gold in soil anomalies
The company also said that the soil survery work has resulted in multiple gold in soil anomalies with multi-element pathfinder associations and zonation indicative of an intrusion related gold system.
DRE said that the multi-element pathfinder association is comprised of a general SSW to NNE zonation containing high temperature Mo to lower temperature As-Sb-Tl with Cs and Li alteration.
The dimensions and pathfinder association of the distinctive gold in soil anomalies are as shown below.
The company announced that these gold in soil anomalies are significant in scale and will be geologically mapped to further constrain targets for drill testing in 2020.
The company announced the details of the newsflows anticipated for the next three months, April, May, and June.
April: Quarterly Activities and Cashflow Reports; Commencement of RC drilling at Rocky Dam
April/May: Geological mapping at Illaara Central to further constrain targets for drill testing; Results of Metzke’s Find regional soil sampling
May: Commence RC drilling programs at Metzke’s Find, Rodney and Warspite; Results of magnetic and gravity 3D inversions at Tarraji.
May/June: Assay results from RC drilling program at Rocky Dam; Results of EIS applications for RC drilling at Chianti-Rufina and diamond drilling at Texas part of the Tarraji-Yampi Project in the Kimberley; Drill targets from geological mapping at Illaara Central.
June: Assay results from RC drilling programs at Metzke’s Find, Rodney and Warspite
Dreadnought reported that it plans to undertake RC drilling at several of the targets during 2020.
Dreadnought Managing Director Dean Tuck said: “We have undertaken three ultra-fine fraction soil surveys and drilled two stratigraphic RC holes at Illaara Central.
This has resulted in multiple gold in soil anomalies with strong pathfinder associations indicative of an intrusion related gold system.
These anomalies are significant in scale and will be geologically mapped to further constrain targets for drill testing in 2020.
Dreadnought has a rapidly growing list of attractive drill-ready targets at Illaara including Metzke’s Find, Rodney and Warspite. Others will emerge out of our Illaara Central work.”