Dreadnought Resources confirms sizeable REE exploration target at Yin complex
Dreadnought’s new 50-100Mt exploration target excludes Yin’s current resource and mineralisation at the C1-C7 carbonatites.
Dreadnought Resources (ASX: DRE) has announced a sizeable exploration target across a 40-kilometre strike of the Yin ironstone complex within its wholly-owned Mangaroon rare earth elements (REE) project in Western Australia.
The target sits between 50 million tonnes and 100Mt grading between 0.9% and 1.3% total rare earth oxides (TREO) with a resource intensity of between 1.25Mt per kilometre and 2.5Mt/km and a grade range of 1.13% TREO (+/- 20%).
It is underpinned by the recent expansion of the Yin complex to 43km of strike, combined with extensive geological knowledge of REE ironstones in the region.
It excludes the current Yin resource, any mineralisation at more than 150m depth (underground potential) and the C1 to C7 carbonatites, which are believed to be the regional source of REEs.
Initial drilling by Dreadnought expanded the C1 to C5 carbonatites to approximately 6.5km in strike length and 1km wide.
Globally unique
Like the nearby Yangibana REE project controlled by Hastings Technology Metals (ASX: HAS), Yin is considered to be globally unique due to the high proportion of neodymium and praseodymium as a total of the rare earth oxides.
Six coherent zones of phosphorus-niobium-titanium-scandium have been identified within the C1 to C5 carbonatites with a 600m by 550m zone of the same mineralisation now confirmed at the C3 discovery.
Dreadnought said systematic drilling to test the complex has potential to add significant tonnages to the existing resource.
Mobilisation for drilling this month at Yin and the carbonatites is underway.
Size of the target
Dreadnought managing director Dean Tuck is pleased with the size of the exploration target.
“This is a fantastic outcome reflecting the hard work undertaken by our team over the past 18 months at Mangaroon,” he said.
“Given that it excludes the current resource at Yin and mineralisation at the carbonatites, we cannot underestimate the opportunity for Mangaroon to become a globally-significant REE project.”
He said broad zones of shallow-dipping mineralisation with parallel lodes and a resource intensity of approximately 4.8Mt per kilometre make for a “potentially attractive mining proposition”.