Drill targets identified at Mangaroon JV project
- Dreadnought Resources (DRE) defines conductors within its Money intrusion at the Mangaroon joint venture project in Western Australia’s Gascoyne region that it says provide robust drill targets
- The conductors have been detected via a fixed loop electromagnetic (FLEM) survey funded by First Quantum Minerals (FQM), which is earning up to 70 per cent in the project
- FQM has reportedly committed to 1,200 metres of reverse circulation drilling to test the conductors and other geophysical anomalies
- RC drilling is expected to commence in April, with assay results anticipated in June and additional work along the undefined section of the Money intrusion to begin afterwards
- DRE shares last traded on February 11 at 4.5 cents
Dreadnought Resources (DRE) has identified “robust drill targets” in the form of a couple of conductive bodies along the Money intrusion at its Mangaroon joint venture project in Western Australia’s Gascoyne region.
The conductors were detected via a recently completed fixed loop electromagnetic (FLEM) survey funded by First Quantum Minerals (FQM), which was earning up to a 70 per cent stake in the nickel-copper-platinum group elements project.
The FLEM survey was designed to screen about 12 kilometres of strike along the Money intrusion for near-surface conductive bodies.
Dreadnought said any conductive body within the Money intrusion would make for a priority drill target given the presence of high tenor blebby sulphides and gossanous horizons.
Managing Director Dean Tuck said the company has completed several exploration programs in less than 10 months since partnering with First Quantum at Mangaroon.
“In that time, we have mapped over 45 kilometres of strike, undertaken a number of geochemical and geophysical surveys to focus in on the most prospective sections for maiden drill testing,” he said.
“We have identified outcropping gossans and now two conductors along the unexplored Money intrusion providing us with two attractive and technically robust targets for drill testing.”
FQM has reportedly committed to 1,200 metres of reverse circulation drilling to test the two conductors and other geophysical anomalies.
The RC drilling program is expected to commence in April this year.