Dreadnought Resources’ (ASX: DRE) Yin rare earth element (REE) discovery has continued to grow with assays revealing more thick and high-grade mineralised zones.
The company has received assays from seven reverse circulation holes completed at the ironstone REE discovery.
Highlight results comprised a broad 54m intercept grading 2.07% total rare earth oxides (TREO) from 24m, including 17m at 4.1% TREO from 41m. The more valuable minerals neodymium-praseodymium accounted for 30% of TREO (30% NdPr: TREO).
Other holes returned 38m at 1.84% TREO from 48m, including 2.7% TREO (31% NdPr: TREO) from 57m; and 30m at 1.82% TREO from surface, including 17m at 2.87% TREO (31% NdPr: TREO) from 8m.
Dreadnought managing director Dean Tuck noted the neodymium-praseodymium-to-TREO ratio was increasing to the north, with values up to 46% uncovered, which is more than double the global average.
“Yin continues to deliver exceptional REE results,” he said.
The company has now reported assays from 91 out of 120 RC holes completed at the prospect.
Mr Tuck said Dreadnought was on schedule to deliver a maiden JORC resource for Yin in the current quarter, with a diamond rig operating at the target drilling twin holes.
“Importantly, this initial JORC Resource will only cover about 3km of the interpreted 16km of strike of Yin,” he added.
Mangaroon REE project
Yin is part of Dreadnought’s wholly-owned Mangaroon project in Western Australia.
The company is already planning a further 13km of extensional drilling along the untested strike of Yin.
As well as Yin, REE mineralisation has been discovered at the Sabre and Y8 prospects, where a JORC resource is planned for the June 2023 quarter.
Additionally, Dreadnought has identified seven carbonatite targets (C1-C7) at the project.
RC drilling is underway at C1, C2, C3, C4 and C5.
A 14-hole fence line drilling pattern has covered 2.3km across C3 and C4.
This initial program hit REE in 13 out of the 14 holes, with samples dispatched for “rush analysis”.
Dreadnought has also confirmed REE at a further 22 outcropping targets at the project, with another 10 required further work.
An additional 100 targets are also under assessment for their REE potential.
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