Dreadnought Resources Limited (“Dreadnought”) is pleased to provide an update on RC drilling activities at the Illaara Project in the Yilgarn Region of Western Australia.
HIGHLIGHTS
- RC drilling has confirmed that the gold lode at Metzke’s Find remains largely unmined with only one hole intersecting historic workings within the top 40m and 15 out of 17 holes intersecting the
mineralised structure. - Thick iron and magnetite banded iron formation (“BIF”) intersected at Spitfire while targeting a BIF hosted gold system – gold assays pending.
- Further fertile lithium-caesium-tantalum (“LCT”) pegmatites intersected at Nelson extending the 5km x 2km Peggy Sue LCT pegmatite swarm to the southeast by 0.5km in addition to a VMS exhalative horizon associated with strongly disseminated and blebby pyrite-pyrrhotite+/- sphalerite.
- Assay and magnetite concentrate analysis results are expected throughout May to July 2022.
- Drilling at the Mangaroon Joint Venture (Money Intrusion) and 100% Mangaroon rare earths (Yin, ironstones, carbonatites) is planned to commence in mid-May 2022.
Dreadnought Resources Limited (“Dreadnought”) is pleased to provide an update on RC drilling activities at the Illaara Project in the Yilgarn Region of Western Australia.
In total, 48 RC holes (4,903m) were drilled at Spitfire, Metzke’s Find, Kings and Nelson targeting gold, iron ore and base metals. All prospects intersected visual evidence of mineralisation with assays expected through May, June and July 2022. In addition to the targeted commodities, drilling at Nelson intersected additional LCT pegmatites and drilling at Spitfire returned both high grade goethite-haematite and magnetite BIF mineralisation. Samples of the magnetite are being analysed to determine if a suitable concentrate can be created. This is in line with Mineral Resources Ltd’s studies to convert the Yilgarn to a magnetite hub and Hancock Prospecting’s recent investment in the Mt Bevan magnetite project located 50km away.
Dreadnought’s Managing Director, Dean Tuck, commented: “Drilling at Illaara has successfully tested a range of targets and commodities along with a few surprises thrown in with the pegmatites intersected at Nelson and Trafalgar and the goethite-haematite and magnetite at Spitfire. Other activities undertaken included: first pass surface sampling and an airborne magnetic survey over the Central Komatiite belt; a drone survey, mapping and sampling across the outcropping Peggy Sue LCT pegmatite swarm. We look forward to receiving the assay results over the coming months whilst we move up to Mangaroon.”
RC drilling hole NERC008 at the Nelson VMS target where significant sulphide and thick pegmatites were intersected.
