- Dreadnought Resources (DRE) has consolidated a 100 per cent ownership of the highly prospective Illaara Greenstone Belt in WA
- The company exercised its option over two tenements within the Illaara project, which contains known iron ore occurrences as well as gold and massive sulphide mineralisation
- Dreadnought says the tenements also have the potential for komatiite-hosted nickel sulphides and lithium-bearing pegmatites, which are currently being assessed
- Managing Director Dean Tuck says the Illaara project offers the company a “pipeline of quality targets”
- Dreadnought shares last traded at 4.6 cents each on July 6
Dreadnought Resources (DRE) has exercised its option over two tenements at the Illaara project in Western Australia’s Central Yilgarn region.
The IIlaara project includes seven tenements that make up around 650 square kilometres and cover 75 kilometres of strike along the entire Illaara Greenstone Belt.
The tenements, known as E29/965 and E30/485, reportedly cover parts of the Kings and P1 iron ore occurrences and are also prospective for gold and massive sulphide mineralisation.
According to Dreadnought, the tenements also have significant potential for komatiite-hosted nickel sulphides and lithium-bearing pegmatites, which are currently being assessed.
Dreadnought’s exercise of the option, which was granted in December 2019, gives it a 100 per cent ownership over the highly prospective Illaara Greenstone Belt.
Managing Director Dean Tuck said the Illaara project was a high-quality asset that the company had gradually consolidated over the last three years.
“Exercising the option to own 100 per cent of the 75-kilometre-long Illaara Greenstone Belt provides leverage to numerous commodities with proven and potential mineralisation under assessment,” Mr Tuck said.
“As we continue to advance our projects on all fronts, Illaara provides Dreadnought with a pipeline of quality targets and significant optionality.”
Dreadnought shares last traded at 4.6 cents each on July 6.