Dreadnought Resources (ASX: DRE) has received assay results across multiple metals following an exploration program in May at the Central Yilgarn project in Western Australia.
Drilling extended the gold discovery at Metzke’s Find by 150 metres to the north; confirmed a fertile VMS (volcanogenic massive sulphide) base metals system at the Nelson target; and discovered thick high-grade, goethite-hematite iron ore at Spitfire.
Early-stage work on the region’s nickel and lithium potential – including at the Peggy Sue lithium-caesium-tantalum pegmatite swarm — showed encouraging signs with surface sample assays likely to support a fertile setting.
The most fractionated pegmatites are believed to exist to the east under shallow cover and further work has been planned for the new year.
Potential of the area
Managing director Dean Tuck said the array of metals uncovered in drilling had highlighted the potential of the area.
“These results are a timely reminder of the significant opportunity in this underexplored region,” he said.
“We view Central Yilgarn as a valuable project with opportunity for commercialisation of a range of commodities and exploration success.”
Metzke’s Find drilling
A total 17 reverse circulation holes for 902m were completed along 500m of strike at Metzke’s Find to define further high-grade mineralisation in the top 40m of the lode; determine the extent of historical shallow workings; and test the northern extension across a Proterozoic dyke.
Fifteen holes intersected the mineralised structure with significant results including 5m at 6.4 grams per tonne gold from 24m (shallow infill drilling); and 6m at 1.2g/t gold from 66m.
One of the holes was located 150m north of previous drilling and was the first to test a continuation of the Metzke’s lode north of a cross-cutting dolerite dyke.
Dreadnought said drilling underscored the potential to add significant strike extension to the discovery.
A mineral resource estimate for Metzke’s Find has been scheduled for release before year end.
Nelson anomalies
At Nelson, eight reverse circulation holes for 1,550m targeted a copper-lead-zinc-silver and VMS pathfinder (gold-cadmium-indium-tin-thallium) in-soil anomaly with six coincident highly-conductive electromagnetic anomalies.
The lithological setting and geochemical signature is believed to be analogous to the Jaguar VMS deposit located 160 kilometres to the northeast.
Best results from drilling at Nelson were 1m at 2.26% zinc, 2.27% lead, 53g/t silver and 0.1g/t gold from 157m; 1m at 1.2% lead, 0.67% zinc and 4g/t silver from 100m; and 17m at 0.15% copper from 187m.
Dreadnought said additional drilling and geophysical surveys had been planned for the new year.
Spitfire anomaly and BIF
Three fence lines of reverse circulation drilling comprising 17 holes for 2,646m were drilled at Spitfire to target a coincident high tenor gold-in-soil anomaly and de-magnetised banded iron formation (BIF) horizon.
Thick intervals of goethite-hematite were intersected across two lines of drilling spaced 200m apart with the mineralisation remaining open along strike.
Significant results included 20m at 61% iron, 0.98% aluminium oxide, 2.99% silicon dioxide, 0.06% phosphorus and 8.2% LOI from 22m; and 8m at 60.7% iron, 1.50% aluminium oxide, 3.90% silicon dioxide, 0.10% phosphorus and 6.7% LOI from 16m.
The intersection of goethite-hematite and magnetite has been considered a positive development given Hancock Prospecting’s recent investment in the nearby Mount Bevan iron ore project (jointly owned by Legacy Iron ore (ASX: LCY) and Hawthorn Resources (ASX: HAW)) as well as ongoing studies by Mineral Resources (ASX: MIN) to convert the Yilgarn to a magnetite hub.
Kings iron ore target
Drilling also comprised 17 holes for 978m at the Kings target to test for a continuation of high-grade iron ore undercover along strike from historical drilling.
All holes intersected partially mineralised and heavily oxidised BIF.
Several holes returned assays of more than 50% iron however Dreadnought said the thickness and continuity of mineralisation was not deemed to be significant.
