Dreadnought Resources (ASX:DRE) - Managing Director, Dean Tuck
Managing Director, Dean Tuck
Source: Dreadnought Resources
Market Herald logo

Subscribe

Be the first with the news that moves the market
  • Dreadnought Resources (DRE) announces another set of high-grade copper, silver, gold, cobalt, and zinc hits from its Tarraji-Yampi Project in WA
  • The results confirm Orion as a high-grade massive sulphide discovery, according to Dreadnought, with mineralisation still open along strike and at depth
  • The best results from the latest bout of drilling include a 12-metre hit at 3 per cent copper, 21.4 g/t silver, 1.7 g/t gold, and 0.02 per cent cobalt from one metre
  • Dreadnought Managing Director Dean Tuck says indications at the Orion target suggest the company has only just begun to “scratch the surface” of the discovery
  • Shares in Dreadnought Resources were down 2.13 per cent to 4.6 cents each at 10:26 am AEDT

Junior explorer Dreadnought Resources (DRE) has announced another set of high-grade copper, silver, gold, cobalt, and zinc hits from its Tarraji-Yampi Project in Western Australia.

The results come from a 2021 reverse circulation (RC) drilling program at the Orion target of the project, which lies in WA’s West Kimberley region, during which Dreadnought drilled 27 holes for 2904 metres.

Dreadnought said the drilling results confirmed Orion as a high-grade copper, silver, gold, cobalt, and zinc massive sulphide discovery, with mineralisation beginning from just one metre undercover and extending at least 240 metres along strike and 150 metres down dip.

What’s more, Orion’s mineralisation still remains open along strike and at depth, with geophysical modelling suggesting the mineralised body could extend to at least 500 metres deep.

The best results from the latest round of RC drilling include a 12-metre hit at 3 per cent copper, 21.4 grams of silver per tonne (g/t silver), 1.7 g/t gold, and 0.02 per cent cobalt from one metre. This hit included a five-metre zone at 5.9 per cent copper, 44.9 g/t silver, 3.7 g/t gold and 0.01 per cent cobalt from one metre.

Dreadnought Managing Director Dean Tuck said indications at the Orion target suggest the company has only just begun to “scratch the surface” of the discovery.

“Furthermore, interpretation of the mineralisation system appears to be similar in character to the magmatic-hydrothermal deposits in the Mt Isa region of Queensland,” Mr Tuck said.

“This will form a working hypothesis for future targeting and interpretation of results.”

He added that the company had now proven low-impact, shallow auger drilling could be deployed to screen targets prior to RC drilling.

Looking ahead, Dreadnought said its major objective for 2022 was still to deliver a mineral resource at both the Orion and Grant’s Find prospects in the project area, though the realisation that shallow auger drilling was a viable exploration option in the area could enhance the effectiveness and efficiency of future target testing.

In any case, Dreadnought plans to take on some survey, modelling, and geophysical review work at the Tarraji-Yampi project over the coming months, with diamond and RC drilling to begin at some key targets in June next year.

Along with the results from the Orion campaign, Dreadnought today released results from exploration work at the Orion South, Fuso, Paul’s Find, Chianti-Rufina, and Texas prospects in the project area.

Shares in Dreadnought Resources were down 2.13 per cent to 4.6 cents each at 10:26 am AEDT. The company has a $122.6 million market cap.

DRE by the numbers
More From The Market Herald

" Navarre Minerals (ASX:NML) broad gold zones in first holes at St Arnaud

Navarre Minerals Limited (ASX:NML) reports on its completed drilling program at the St Arnaud Gold Project 240…

" New magnetic anomalies identified Alderan Resources (ASX:AL8) Frisco project

New magnetic anomalies were identified over Alderan Resources (ASX:AL8) Frisco copper-gold-zinc-silver project in Utah, USA.

" Desert Metals (ASX:DM1) initiates drilling at Belele and Innouendy

Desert Metals (ASX:DM1) has begun a five-hole reverse circulation (RC) program at the Belele project in…

" Tower (ASX:TWR) responds after natural disaster in Tonga

Insurance provider Tower (ASX:TWR) is in assessing the impact of the significant eruption of underwater volcano…