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- Dreadnought Resources (DRE) continues to intersect thick rare earth ironstones at Yin, within its Mangaroon project in the Gascoyne region of WA
- Of the 67 reverse circulation drill holes completed so far at Yin, 87 per cent have intersected mineralisation
- Initial assay results have experienced a delay in the lab and are now expected in late July 2022, with further assays to follow thereafter
- Due to the success of the RC program, a diamond drill rig is being sent to site and will commence drilling later this month
- DRE shares last traded at 5.1 cents each
Dreadnought Resources (DRE) has continued to intersect thick rare earth ironstones at Yin, within its Mangaroon project in the Gascoyne region of WA.
The company is currently drilling at Yin with 67 reverse circulation (RC) holes completed for around 6415 metres. About 87 per cent of the holes drilled to date have intersected mineralisation.
Initial assay results have experienced a delay in the lab and are now expected in late July 2022, with further assays to follow thereafter.
Due to the success of the RC program, a diamond drill rig is currently being sent to site and will commence drilling later this month.
The RC program commenced in June, with significant results including 31 metres at 2.5 per cent total rare earths oxide (TREO) from one metre, including ten metres at 6.3 per cent TREO from 11 metres.
Managing Director Dean Tuck said drilling at Yin has continued to “exceed expectations.”
“With a second rig mobilising to site, we are confident that Yin will produce a substantial initial rare earth mineral resource by the end of the year.
“We also expect to confirm high-grade potential with first assays due back in late July 2022,” he said.
On the market, DRE shares last traded at 5.1 cents each on 22 July.
