Why is Dreadnought Resources' Discovery of Rare Minerals in Western Australia Significant?

Dreadnought Resources Limited (ASX: DRE) has made an exciting announcement regarding the Mangaroon Project in the Gascoyne Region of Western Australia. The company has revealed the initial, independent REE-Nb-P-Ti-Sc resource for C3 at Mangaroon, further solidifying the project's potential as a significant source of critical minerals.

Impressive Inferred Mineral Resource Delivered in Under 12 Months

Within less than a year since the discovery of the C1-C5 carbonatites, Dreadnought Resources has successfully delivered an independent, JORC Code 2012 Inferred Mineral Resource for C3. This resource amounts to 10. 84 million tonnes at 1. 00% total rare earth oxides (TREO) and includes a range of critical minerals such as rare earths, niobium, phosphate, titanium, and scandium (TREO, REE-Nb-P-Ti-Sc).

Global Significance of Mangaroon Highlighted by Resource Results

The newly unveiled resource, along with the Yin Ironstone Complex, underlines the global significance of the Mangaroon Project.

Story Continues.. after this ad because we need some dollarydoos

As a large, long-life potential source of critical minerals, Mangaroon gains further recognition in the industry. The initial C3 resource encompasses an area of approximately 600m x 550m. However, with the expansion of the C1-C5 carbonatites to over 9km x 1km based on initial drilling, it is expected that the resource will substantially increase through future drilling activities.

Growing Resource Potential at Mangaroon

Table 1 showcases the adjusted C3 Inferred Resource based on different cut-off grades. At a cut-off grade of 0. 90% TREO, the resource amounts to 5. 73 million tonnes with a TREO grade of 1. 18%, containing 67,500 tonnes of TREO and 14,500 tonnes of Nb2O5. By lowering the cut-off grade to 0. 70% TREO, the resource expands to 10. 84 million tonnes with a TREO grade of 1. 00%, containing 108,000 tonnes of TREO and 23,700 tonnes of Nb2O5. The resource potential continues to grow, with further drilling expected to make significant contributions.

Positive Outlook for Mangaroon Project

With global REE resources at Mangaroon now totaling 30. 90 million tonnes at 1. 02% TREO, amounting to 314,600 tonnes of contained TREOs, Dreadnought Resources anticipates a prosperous future for the project. The company remains on track for an update of the Yin ironstone resource in the December 2023 quarter, which will include the high-grade NdPr discoveries at Y2 and Yin North, as well as an increased Indicated component.

Dreadnought Resources Limited's Managing Director, Dean Tuck, expressed satisfaction with the progress made at Mangaroon. Tuck stated that delivering the first resource over the C1-5 Carbonatite Complex represents a significant milestone, as it marks the first polymetallic critical metal resource with notable concentrations of niobium, phosphate, titanium, and scandium. The company will continue to explore the economic potential of the project, focusing on highlighting the critical metal endowment of the region.

Promote your business on our growing investor platform: Advertise With Us

Like

Reply 247 Share