Dreadnought Resources reveals more thick, high-grade REE at Yin, confirms Sabre discovery

Assays from drilling at Dreadnought Resources’ (ASX: DRE) Mangaroon project have confirmed more thick high-grade rare earth elements (REE) at the Yin prospect, while drilling has intersected mineralised ironstones at the Sabre discovery.

Dreadnought has received assays from 35 holes drilled at Yin, with notable intercepts of 26m at 1.31% total rare earth oxides (TREO) from 16m, including 8m at 2.55% TREO from 28m; 50m at 0.72% TREO from 72m, including 5m at 2.81% TREO from 98m; and 7m at 2.84% TREO from 11m, including 5m at 3.49% TREO from 12m.

The high value neodymium and praseodymium REE minerals were also present at 30-38% of the TREO within the mineralised intercepts.

Dreadnought noted that the neodymium and praseodymium ratio within the intercepts was increasing to the north of the target – generating values up to 40%, which is nearly double the global average.

The company now has results from 41 holes drilled at Yin from a 120-hole program that tested 3km of strike.

Commenting on the latest assays, Dreadnought managing director Dean Tuck said Yin continues to “deliver exceptional REE results” that “exceed expectations”.

He said once the remaining assays are at hand, the company will calculate a maiden JORC resource for Yin – adding that only 3km of the 16km Yin trend strike had been drilled.

The maiden resource is scheduled for the December quarter, with a diamond rig continuing drilling twin holes at the prospect.

Sabre discovery

In parallel with the Yin results, Dreadnought has confirmed drilling at the Sabre target (formerly known as Y3) has intersected mineralised ironstones ranging from 1-21m in thickness over 1km of strike.

Drilling at Sabre will comprise 29 reverse circulation holes for 3,000m, with 19 holes for 2,102m completed to date.

Dreadnought expects drilling at Sabre and the Y8 target will be finished this month and the rig will then move to test C1-C5.

Assays from Sabre are expected in November, while a JORC resource is targeted for the March 2023 quarter.

‘Significant scale’ potential

Mr Tuck said the visible mineralised REE ironstones at Sabre underscore the “significant scale” potential of the wider Mangaroon project.

“With two REE discoveries in hand now at the Mangaroon REE project we look forward to continuing the discovery drilling program with additional drilling at Sabre, Y8 and then the C1-C5 carbonatite targets all commencing this month,” he added.

REE mineralisation has been identified at 22 outcropping targets at the project. An additional 100 outcropping targets have also been noted for further assessment.