- Dreadnought Resources (DRE) completes drilling program at the Tarraji-Yampi Project in Western Australia
- All up, 18 reverse-circulation holes were completed, with the program intersecting mineralisation across multiple targets
- Over at Orion, an intersection of massive copper bearing sulphide has been labelled a "watershed" moment, with the company rushing assays to assist plans for follow-up drilling
- A rig breakdown has delayed drilling at Texas, DRE plans to recommence work early next month
- Shares opened 6.68 per cent up and are trading at 4.8 cents.
Dreadnought Resources (DRE) has completed the drilling program at the Tarraji-Yampi Project in the West Kimberley region of Western Australia.
Drilling kicked off in June, now 18 reverse circulation holes have been completed across Chianti, Fuso, Paul’s Find, Grant’s Find and Orion.
At Orion, the company was encouraged by results from the first hole drilled which intersected massive to semi-massive sulphides containing between five and 20 per cent copper sulphide.
Managing Director Dean Tuck said the intersection at Orion is a "watershed" moment for the project.
Over at Grant's Find, drilling of the 700-metre-long outcropping copper-gold lode was following up the previously identified "nuggety" nature of the gold mineralisation.
Of the three holes drilled, five metres of copper sulphide rich quartz veining was identified, containing around ten to 30 per cent copper sulphide.
Additionally, DRE reported potassic-sulphide alteration and quartz veining at Fuso and Paul’s Find, which it believes could be indicative of a gold bearing system.
To follow this up, the company is conducting additional magnetic surveys to better understand the magnetic anomaly.
Drilling at Chianti, which was the first work conducted since 1972, showed two metres of massive sulphide containing copper, zinc and lead mineralisation.
Down hole electro-magnetic surveys are currently underway across all seven drill holes at Chianti, with results expected in August.
Drilling of a single diamond drillhole at Texas, which was the initial focus for the company, has been pushed back due to a rig breakdown while at a depth of 55 metres.
DRE said drilling is set to recommence early next month and plans to be finished by mid-August.
Looking forward, the company said it will prioritise work at Orion and Grant's Find and has consequently rushed assays and begun downhole and surface geophysical surveys to assist with follow up drilling.
With a number of targets still to be tested and new targets emerging, Dean Tuck said the company is looking forward to returning in September and completing the diamond program at Texas in the meantime.
Shares were trading grey this morning at 4.5 cents at 9:58am AEST.