Dreadnought Resources Unveils Promising Drilling Update

Dreadnought Resources Limited (ASX: DRE)  is making waves in the rare earth metals sector with a significant drilling update from its Mangaroon Project in Western Australia. The company's Managing Director, Dean Tuck, expressed enthusiasm for the project's latest developments.

Source: Kapitales Research

Payable Results Highlight Global Significance

Dreadnought's exploration efforts have yielded high-grade neodymium and praseodymium (NdPr) results, indicating the project's global significance. These findings also underscore the effectiveness of Dreadnought's regional geology model, paving the way for the potential conversion of a large-scale Exploration Target into valuable resources.

Expansion of Resources

Dreadnought's Mangaroon Project already boasts a substantial Inferred Resource of 20.06 million tonnes at 1.03% Total Rare Earth Oxides (TREO). However, this covers only a fraction of the total strike length, with an Indicated Resource of 5.52 million tonnes at 1.23% TREO. The project's Exploration Target estimates the potential for 50-100 million tonnes at 0.9-1.3% TREO within the Yin Rare Earth Element

(REE) Ironstone Complex, emphasizing its remarkable scale.

Multi-Metal Potential

The Mangaroon Project isn't just about rare earths; it also holds promise for other critical minerals like phosphate, niobium, titanium, and scandium. This diversification makes it a compelling proposition in the mining industry.

Positive Metallurgy Results

Metallurgical testing at the Yin REE Ironstone Complex has yielded promising results, with recoveries ranging from 85.9% to 92.8% at a concentrate grade of 10.76% to 15.31% Nd2O3+Pr6O11. These findings suggest that the project's rare earths are primarily hosted in monazite, which is commercially viable for processing.

Global Strategic Imperative

Dreadnought's focus on rare earth elements aligns with global imperatives for supply chain security and the low-carbon transition, particularly in the face of geopolitical tensions. The company is garnering increasing interest from midstream and downstream industry participants, exploring opportunities for collaboration in mining, milling, and concentrating operations.

Future Prospects

Dreadnought's 2023 drilling campaign has been intensive, with numerous holes confirming mineralized ironstones, discovering high-grade NdPr mineralization, and contributing to the conversion of Exploration Targets into resources. As infill drilling concludes, the company plans to release results and a Resource update in the December 2023 quarter, further solidifying its position in the rare earth metals sector.

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