REE Ironstone Exploration Target Defined at Mangaroon
Highlights
The substantial amount of geological knowledge derived from exploration and Resource work at the Yin and Yangibana (ASX:HAS) ironstone complexes allows for robust interpretation of rare earth element (“REE”) ironstone potential.
The Yin Ironstone Complex is comprised of 43kms of REE mineralised ironstones which include:
- 3kms containing a JORC 2012 Mineral Resource (“Resource”) of 14.36Mt @ 1.13% TREO with a Resource intensity of 4.8Mt/km (ASX 28 Dec 2022); and
- 40kms containing a JORC 2012 Exploration Target (“Exploration Target”) of 50-100Mt at 0.9-1.3% TREO with a Resource intensity of 1.25-2.5Mt/km and a grade range of 1.13% TREO +/- 20%.
- The Exploration Target excludes potential ironstone mineralisation at >150m depth and mineralisation at the C1-C7 carbonatites.
- Mobilisation for the 2023 drilling campaign is underway with drilling expected to commence in February 2023.
Dreadnought Resources is pleased to announce an Exploration Target for the ~40kms strike of the Yin Ironstone Complex at the 100% owned Mangaroon project, located in the Gascoyne Region of Western Australia.
The recent expansion of the Yin Ironstone Complex to 43kms of strike, combined with extensive geological knowledge of the REE ironstones in the region has provided the foundation for the Exploration Target.
The Exploration Target covers over 40kms of the near surface ironstones at Yin and importantly, excludes the current Yin Resource, any mineralisation at depth (underground potential) and the C1-C7 carbonatites.
Systematic drilling to test the Yin Ironstone Complex has the potential to add significantly to the existing Resource. Mobilisation for drilling at Yin and the C1-7 carbonatites is underway with drilling to commence in February 2023.
Dreadnought’s Managing Director, Dean Tuck, commented:
“The Exploration Target for the Yin Ironstone Complex is a fantastic outcome reflecting the outstanding work undertaken by the Dreadnought team over the past 18 months at Mangaroon. When taken in the context that this estimation excludes the current Resource at Yin and the mineralisation at the C1-C7 carbonatites the opportunity for Mangaroon to become a globally significant REE project cannot be underestimated.”