Dreadnought Resources (ASX:DRE) Reports Strong Gold Results at Mangaroon

2 min read | October 01, 2024 12:29 PM AEST | By Team Kalkine Media

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Dreadnought Resources (ASX:DRE) Reports Strong Gold Results at Mangaroon — Image source: Shutterstock

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Highlights

Dreadnought Resources experiences a 6% increase following high-grade gold assay results from its Mangaroon gold project.

Shallow drilling revealed impressive gold intercepts, indicating strong mineralisation potential.

Results from diamond drilling and a Mineral Resource Estimate are anticipated soon.

Dreadnought Resources Ltd (ASX:DRE) has seen a significant boost in its stock price, trading up over 6% following the release of assay results that showcase high-grade gold from shallow drilling at the 100% owned Mangaroon gold project in the Gascoyne Region of Western Australia. The company’s ongoing exploration efforts continue to yield promising signs of mineralisation.

Strong Assay Results from Shallow Drilling

The recent report detailed assay results from 26 reverse circulation (RC) drill holes, covering a total of 2,862 metres. The top intercepts include:

- 3m at 23.7 grams per tonne (g/t) of gold from 58m

- 4m at 27.4 g/t Au from 80m

- 4m at 5.1 g/t Au from 106m

Surface results have also shown potential, with 3m at 4.9 g/t observed. Additionally, visible gold was logged in three diamond holes, which are part of the resource definition program. Assay results from this diamond drilling are expected to be released later this month or next.

Promising Results from the Popeye Prospect

Dreadnought Resources has also reported exciting findings from the Popeye prospect, located on the Star of Mangaroon mining lease. The initial results from four RC drill holes, covering just over 300 metres, revealed significant intercepts, including 3m at 22.8 g/t Au from a depth of 13m. The Popeye prospect was discovered while sinking a shaft for water, and Dreadnought has not found any record of previous drilling in this area. This opens up a potential opportunity to establish a shallow, high-grade open pit for processing.

Upcoming Developments

Dean Tuck, managing director of Dreadnought Resources, has indicated that an initial Mineral Resource Estimate for the Mangaroon project is expected next month. As exploration continues, the company remains optimistic about further discoveries and the overall potential of its gold projects in the region. Dreadnought last traded at 1.7 cents (12:15 PM AEST), reflecting investor confidence in its ongoing exploration activities.

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