- Reverse circulation drilling kicks off at Dreadnought Resources’ (DRE) Mangaroon project in the Gascoyne region of Western Australia
- Nine drill holes are planned to test nickel-copper PGE targets along the Money intrusion with work fully funded by First Quantum Minerals through a joint venture agreement
- The work is expected to take between two to three weeks to complete with assay and survey results anticipated throughout June and July
- Following this program, Dreadnought plans to drill its wholly owned rare earth element ironstones and carbonatites
- Shares are trading grey at 3.7 cents
Reverse circulation drilling has kicked off at Dreadnought Resources’ (DRE) Mangaroon project in the Gascoyne region of Western Australia.
This round of drilling is focused on the Money intrusion to target nickel-copper and platinum group element mineralisation.
The work is being undertaken through a joint venture agreement signed in April last year with First Quantum Minerals (FQM) which is funding the program.
FQM is working to earn an initial 51 per cent interest by funding $12 million of expenditure by March 1, 2026 following which it can elect to increase its interest to 70 per cent by sole funding expenditure up until a decision to mine.
A total of nine holes are planned for around 1200 metres and will include down-hole electromagnetic surveying.
“Drilling will initially target the previously un-drilled gossanous horizon along the Money Intrusion where work over the past year has defined robust nickel-copper platinum group element targets,” Managing Director Dean Tuck explained.
“The team, our stakeholders and our partners at First Quantum Minerals have worked exceptionally hard over the past year to get this project granted, targets defined and approvals in place. We can’t wait to see what the drilling produces.”
The work is expected to take between two to three weeks to complete with assay and survey results anticipated throughout June and July.
Following this program, Dreadnought plans to drill its wholly owned rare earth element ironstones and carbonatites.
Company shares were trading grey at 3.7 cents at 11:32 am AEST.