Dreadnought Resources returns thick, high-grade rare earths results from Yin ironstone complex
Dreadnought noted the neodymium-praseodymium:TREO ratio was increasing to the north at Yin, with values up to 46%, which is more than double the global average.
Assays from drilling at the Yin ironstone complex within the Mangaroon project in Western Australia have confirmed thick, high-grade rare earth element mineralisation for Dreadnought Resources (ASX: DRE).
The results were generated from 43 reverse circulation holes out of a total 120 holes for 12,255 metres drilled in December along the first 3km strike of the 16km Yin trend.
Significant intercepts were 24m at 2.57% total rare earth oxides from surface, including 11m at 4.50% TREO (28% neodymium-praseodymium:TREO) from 8m; and 31m at 1.64% TREO from 62m, including 6m at 6.73% TREO (31% NdPr:TREO) from 83m.
Other highlight intercepts were 49m at 0.81% TREO from 92m, including 6m at 2.83% TREO (33% NdPr:TREO) from 107m; 24m at 1.17% TREO from 94m, including 4m at 4.11% TREO (39% NdPr:TREO) from 95m; 23m at 1.15% TREO from 21m, including 8m at 2.52% TREO (33% NdPr:TREO) from 29m; and 17m at 1.59% TREO from 26m, including 8m at 2.59% TREO (27% NdPr:TREO) from 32m on the most southerly line of drilling.
The new results follow initial assays for six holes announced in July, which returned 35m at 2.75% TREO from 94m, including 15m at 4.08% TREO (30% NdPr:TREO) from 105m; 34m at 2.59% TREO from surface, including 10m at 6.05% TREO (31% NdPr:TREO) from 11m; 31m at 1.73% TREO from 24m, including 7m at 3.47% TREO (31% NdPr:TREO) from 29m; and 21m at 2.01% TREO from 50m, including 11m at 3.11% TREO (31% NdPr:TREO) from 58m.
The NdPr:TREO ratio is believed to increase to the north with values up to 46%, or over double the global average.
Carbonatite exploration
Dreadnought’s reverse circulation rig has since commenced exploration at the first five of seven carbonatites (C1-C7) which are believed to be a regional source of rare earth elements.
The eight-week program commenced in September and will comprise 83 holes for 6600m.
A diamond rig continues to drill twin holes at Yin in preparation for an initial mineral resource estimate due before year end.
Rare earth anomalies
Dreadnought recently completed a project-wide detailed magnetic-radiometric survey which identified 140 anomalies prospective for rare earths.
To date, only 40 of these have been mapped and sampled and outcropping mineralisation has been confirmed at 22 targets.
Another 10 targets are believed to be prospective and require further work, while eight have been considered not prospective.
Dreadnought said 100 targets remain to be mapped and sampled and are all located within a 40km radius of the Yin complex.
Mapping and sampling of the remaining 100 targets is ongoing with further results throughout 2022.
Yangibana likeness
Dreadnought’s Yin discovery has been likened to the nearby Yangibana rare earths project controlled by Hastings Technology Metals (ASX: HAS).
Yangibana is a globally-unique deposit which has a high proportion of neodymium-praseodymium in the total rare earth oxide mix (NdPr ratio).
It is located 25km to the northeast of Yin and has a mineral resource estimate of 29.93 million tonnes at 0.93% TREO with 34% NdPr:TREO.
Yangibana is currently under construction and development, with first production planned for 2024.