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- Dreadnought Resources (ASX:DRE) has found more high-grade gold at the Star of Mangaroon in Western Australia
- The company is exploring for gold
- Based on a shear zone, Dreadnought is hopeful that the first modern mining to date on-site will turn up a find
- The company notes brief high-grade intersections at shallow depths
- Shares last traded at 2.7 cents
Dreadnought Resources (ASX:DRE) has kicked off 2024 with an extension to its known mineralisation system at Star of Mangaroon (SoM).
A diamond drill run for which assay results are reported today included one 1.5 metre intersection grading at 87 grams of gold per tonne (g/t).
While brief pockets of high-grade mineralisation ought not to be taken as evidence of a large system of similar grade, today’s data otherwise further reflects the overall potential of SoM.
Previous success
Previous drill holes sunk with an RC rig on-site turned over nine metres at 13.4g/t from only nine metres depth.
In that hole, another bonanza-grade pocket was found clocking in at two metres for 59g/t.
Those results were called in December 2023, showing a still very active exploration campaign for the company’s geotechs.
Tantalising leads
The company also today confirmed oxide mineralisation to the north of SoM, which has landed firmly on the exploration team’s radar.
Another lead of interest is that found downhole SOMRC015 which Dreadnought believes points towards a possible southward mineral trend. High-grade rock chips have been turned over here before.
The SoM sits within the Gascoyne’s Mangaroon Shear Zone (MSZ), home to a series of historical mines but a mostly empty land for any who can make the claim of modern mining practices – leaving Dreadnought hopeful it could eventually detect what others haven’t.
“These results have confirmed the high-grade gold potential … this comes from the now consolidated project being systematically explored using modern techniques for the first time,” Dreadnought Managing Director Dean Tuck said.
“We are continuing to integrate this and other information into our geological models … other ongoing work will establish our drill priorities for what I am sure will be an exciting drill program commencing in March 2024.”
DRE shares last traded at 2.7 cents.
