Dreadnought Resources Discovers High-Grade Rare Earth & Niobium Zones at Mangaroon

$DRE Dreadnought Resources Discovers High-Grade Rare Earth & Niobium Zones at Mangaroon

In a recent announcement, Dreadnought Resources revealed significant findings from their exploration efforts at the Mangaroon Project located in Western Australia. The company reported the discovery of high-grade rare earth and niobium zones, further enhancing the project's potential.

The initial drilling program, which began in late 2022, involved the completion of 89 reverse circulation (RC) holes, spanning a total of 8,948 meters. These holes were drilled across the C1-C5 carbonatites, with the objective of identifying mineralised zonation within these carbonatites. These mineralised zones are believed to be the source of the large-scale Yin REE Ironstone Complex ("Yin").

In particular, the drilling at C3 uncovered a significant anomalous zone measuring approximately 600m x 550m. This zone showed promising concentrations of critical minerals, including rare earths and niobium. Further infill drilling in 2023, with the completion of 24 RC holes spanning 3,805 meters, resulted in the definition of high-grade rare earth zones over an ... area measuring approximately 400m x 400m. Notable rare earth results include drill intercepts such as CBRC125, which reported 4m @ 2.59% TREO. Additionally, infill drilling revealed a high-grade niobium zone within C3, approximately 250m x 150m in size.

Dreadnought Resources' Managing Director, Dean Tuck, expressed excitement about the progress made so far. He highlighted the potential for thick, high-grade zones of rare earths and niobium within the carbonatite system. Tuck also emphasised the importance of engaging international carbonatite expert Pete Siegfried to review the results and provide valuable insights for future work programs.

The company's ongoing exploration efforts at the Mangaroon Project have already showcased its genuine scale potential. The Yin REE Ironstone Complex, which covers only a small portion of the project, has indicated significant inferred resources of 20.06 million tonnes at 1.03% TREO. Exploration targets for the top 150 meters of the Yin REE Ironstone Complex estimate potential resources of 50-100 million tonnes at 0.9-1.3% TREO.

Dreadnought Resources recognises the growth potential beyond the Yin REE Ironstone Complex. The company is actively focused on exploring the C1-C7 carbonatites, considered to be the regional source of rare earth elements (REE). The carbonatites exhibit multi-metal potential, including neodymium, praseodymium, phosphate, niobium, titanium, and scandium.

With ongoing drilling efforts and positive metallurgical test results, Mangaroon presents an attractive mining proposition. The broad zones of mineralization and favourable metallurgical characteristics make it a potentially valuable asset.

As global demand for rare earth elements continues to rise due to factors such as supply chain security and the low carbon transition, Dreadnought's Mangaroon Project is receiving increasing interest from industry participants both upstream and downstream. This interest bodes well for the company's shareholders and future collaborations in the midstream and downstream sectors.

Dreadnought Resources is on track to release an initial resource estimate for the C3 carbonatite in August 2023. The company continues its exploration efforts across the project and remains committed to unlocking the full potential of this valuable resource deposit.

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