Dreadnought Resources (ASX:DRE) - Managing Director, Dean Tuck
Managing Director, Dean Tuck
Source: Resources Roadhouse
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  • Dreadnought Resources (DRE) identifies several clusters of high-grade tantalum at the Peggy Sue prospect within its Illaara Project in WA
  • The company is highly encouraged by this, as it indicates the potential of a large and fertile pegmatite system
  • Rock chip results also highlight anomalous lithium, however results only peaked at 0.37 per cent
  • Dreadnought plans to follow up on the results with more sampling and mapping which will be conducted in the next quarter
  • Company shares closed 8 per cent in the green at 2.7 cents on July 6

Dreadnought Resources (DRE) has received rock chip sampling results from the Peggy Sue prospect which is part of the Illaara Project in Western Australia.

The results have confirmed the presence of multiple clusters of high-grade tantalum mineralisation.

Tantalum values include 529 parts per million (ppm), 391ppm, 357ppm, 310ppm, 295ppm and 283ppm tantalum pentoxide.

Importantly, multiple clusters of high-grade mineralisation indicate the potential of a large and fertile pegmatite system.

Dreadnought also identified anomalous lithium, but in comparison to the tantalum results, the miner referred to the lithium values as “subdued” with a maximum result of 0.37 per cent lithium. According to the company, this could be due to the pegmatites being strongly zoned, or near surface leaching of the lithium minerals.

Managing Director Dean Tuck was encouraged by the first pass sampling results.

“Identifying these high-grade tantalum clusters from first pass sampling is highly encouraging. Tantalum is a critical metal where security of supply matters and Peggy Sue is ideally situated in a tier one jurisdiction.”

Tantalum is a critical and unique metal that is mainly used in the aerospace, medical and military sectors. Its largest application is in high performance capacitors which is experiencing growth due to the roll-out of 5G infrastructure and electrification of homes, cars and workspaces.

Dreadnought will undertake more sampling and detailed mapping to follow up on these results and define the extents of mineralisation. This work will be conducted in the December quarter, with results expected before the end of the year.

Company shares 8 per cent in the green at 2.7 cents on July 6.

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