Dreadnought Resources Identifies Major Gold Anomaly at Mangaroon Project in WA

Dreadnought Resources (ASX: DRE) continues to accelerate the development of its Mangaroon gold project in Western Australia, with the company receiving promising new exploration results from the Steve’s Reward prospect.

Dreadnought’s interpretation of its recent surface geochemical survey at Steve’s Reward has defined a gold-in-soil anomaly approximately 2,600 metres by 600m in size that remains open along strike and features one of the highest gold-in-soil values so far recorded at Mangaroon, situated in WA’s Gascoyne region.

The company is using modern geochemical and geophysical techniques at Steve’s Reward to explore for mineralisation under shallow cover in the area of the historical Star of Mangaroon mine.

‘More Gold, Faster’ Strategy

“Exploring for the next major gold discovery at Mangaroon is a key pillar of Deadnought’s ‘more gold, faster’ strategy,” managing director Dean Tuck said.

“As part of that, target generation and definition work like surface geochemical surveys are critical to building compelling drill targets—the drill programs currently underway at Steve’s Reward are the first to focus on discoveries.”

An outcropping gold lode was identified at Steve’s Reward back in 1996, producing significant rock chip results of up to 116 grams per tonne gold [but] while more than 80m of strike was identified, no further work or drilling was undertaken at that time.

More recent surface sampling and detailed mapping defined numerous high-grade, sub-cropping, gold rich lodes over an area of around 300m by 200m with significant rock chip gold assays obtained including 30.3 g/t, 49.5g/t, 100.5g/t, and 155.5g/t.

Metallurgical Test Work

Work at Mangaroon was the highlight of Dreadnought’s activities in its latest quarter, with metallurgical work at Star of Mangaroon averaging 96.7% combined recovery from standard gravity and carbon in leach circuits including an average 74.4% gravity recovery.

The company announced a scoping study for Star of Mangaroon for 23,300 ounces at 12.8g/t gold, with the economic case generating an operating cashflow of approximately $40 million over one year.

Dreadnought’s objective remains open-pit mining at Star of Mangaroon to extend the resource with shallow, near-term production ounces.

Critical Mineral Promise

Earlier this month Dreadnought revealed the growing commercial interest in Mangaroon’s critical mineral and rare earths potential, in particular the site’s Gifford Creek Carbonatites.

The company elected to undertake a four-hole diamond drill program to source metallurgical samples after a number of parties requested material for test work.

“The Gifford Creek carbonatite complex is one of the largest carbonatite complexes globally and already contains multiple critical minerals including niobium, rare earths, titanium, scandium and phosphorus,” Mr Tuck said.

“Finding a commercial outcome for the complex is part of our ongoing strategy, and we look forward to continuing discussions on this front.”