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- Dreadnought Resources (DRE) signs an option agreement to consolidate its landholding in Western Australia’s Gascoyne region
- The company has the right to acquire 100 per cent of a tenement, E09/2405, located between its Diamond’s gold mine and the Star of Mangaroon gold mine
- The agreement includes an option fee of $10,000 and Dreadnought has until June 13, 2023 to exercise the option for another $50,000
- Planned work at the E09/2405 over the next 12 months includes further stream sediment sampling, prospecting and follow up mapping, soils and rock chipping
- Shares in Dreadnought Resources were up 4.88 per cent to 4.3 cents as of 1:39 pm AEST
Dreadnought Resources (DRE) has signed an option agreement to consolidate its landholding in Western Australia’s Gascoyne region.
The company has the right to acquire 100 per cent of a tenement, E09/2405, from Historic Gold Mines, which is located between Dreadnought’s Diamond’s gold mine and its high-grade Star of Mangaroon gold mine.
E09/2405 is covers approximately 50 square kilometres and is prospective for gold with a major linking structure between Diamond’s and Star of Mangaroon, alluvial gold and numerous stream sampling anomalies.
The agreement includes an option fee of $10,000 and Dreadnought has until June 13, 2023 to exercise the option for another $50,000.
Managing Director Dean Tuck said while the current focus is on Mangaroon, the company is continuing to advance and consolidate its gold position at the same location.
“The option to acquire E09/2405, if exercised, further consolidates our ground position along the Cullen’s Find trend and fills an important gap between the recently acquired Diamond’s gold mine and the high-grade Star of Mangaroon gold mine,” Mr Tuck said.
Planned work at the E09/2405 over the next 12 months includes further stream sediment sampling, prospecting and follow up mapping, soils and rock chipping.
Shares in Dreadnought Resources were up 4.88 per cent to 4.3 cents as of 1:39 pm AEST.
