Dreadnought Resources Reports Final Assays from Resource Extension Drilling at Metzke’s Find

Dreadnought Resources (ASX: DRE) has reported assays for the remaining 34 holes of a reverse circulation drilling campaign at the Metzke’s Find prospect within the Illaara gold project in Western Australia.

The 57-hole campaign for a total 4,800 metres focused on extending the current shallow resource of 14,900 ounces at 6.8 grams per tonne gold (72% indicated) and confirming an offset extension to the north of a Proterozoic dyke previously considered to be the deposit’s point of termination.

Initial drilling showed that the offset extension covers 150m of strike that remains open to the north and at depth, while delivering best intercepts of 4m at 6.6g/t gold from 87m including 1m at 23.1g/t from 88m, 1m at 17.4g/t gold from 53m, and 10m at 1.5g/t gold from 20m.

The remaining holes were drilled outside of the current resource to extend it along strike and at depth and upgrade more of it to the Indicated category, with highlight hits of 3m at 3.1g/t gold from 11m and 2m at 1.7g/t gold from 24m.

Dreadnought will use these assays to inform an upgrade to the Metzke’s Find resource scheduled for next month, along with an open pit and underground study.

Key Strategy Component

Managing director Dean Tuck said the company’s resource extension drilling program continues to deliver significant gold intercepts outside the current resource.

“Advancing the high-grade Metzke’s Find resource towards development is a key component of our Finding More Gold, Faster strategy and feeds directly into Dreadnought becoming a self-funded explorer by adding near-term production ounces,” he said.

“Importantly, this program has confirmed the Metzke’s North discovery, extending over 150m strike and remaining open to the north and at depth, both of which will be further tested in July 2026.”

“Metzke’s Find is a great commercial opportunity that is already receiving inbound interest,” he added.

Metzke’s Find History

Discovered by a prospecting party in 1911 but lightly mined due to its remote location at the time, the Metzke’s Find deposit includes approximately 20 small historical shafts over 700m of strike.

The most significant modern exploration was conducted in the early 1990s by junior gold explorers, with best results of 5m at 4g/t gold from 11m, 1m at 18g/t gold from 22m, and 2m at 15.7g/t gold from 19m.

Dreadnought acquired Metzke’s Find in 2020 and in multiple rounds of drilling has since returned best results of 4m at 10.5g/t gold from 19m and 7m at 7.5g/t gold from 51m.

The company’s metallurgical test work confirmed the mineralisation to be free-milling (non-refractory) coarse gold amenable to conventional extraction methods, with a 78.5% gravity recovery and 98.9% combined gravity and carbon-in-leach recoveries.