Why is Dreadnought Resources recommencing drilling at Bookathanna North?

Dreadnought Resources Limited has announced that they will resume drilling at Bookathanna North as part of the Mangaroon Ni-Cu-Co-3PGE Project. The company has received assay results from a previous drilling program and has confirmed the presence of thick near-surface sulphide mineralisation with high-grade massive and semi-massive sulphides within the Money Intrusion.

What is the significance of the assay results?

The assay results from the 10-hole RC drill program have provided confirmation of a new Ni-Cu-Co-3PGE sulphide system at Bookathanna North. This discovery opens up a new search space and signifies an exciting development in exploring and unlocking the potential of the Money Intrusion. The results also indicate the presence of mineralisation with significant quantities of nickel, copper, cobalt, and platinum group elements (PGEs).

What are the plans for further drilling and exploration?

Following the successful RC drill program, Dreadnought Resources plans to conduct additional drilling activities, including a 7-hole wide spaced RC drilling program at Bookathanna North. This program will be followed by initial diamond drilling, down-hole electromagnetic surveys (DHEM), and moving loop electromagnetic surveys (MLEM) in March 2024.

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Furthermore, induced polarisation (IP) work is scheduled to commence in November 2023.

What is the outlook for the project?

The ongoing exploration and drilling activities at the Mangaroon Ni-Cu-Co-3PGE Project are providing valuable insights into the newly discovered sulphide system within the Money Intrusion. The company is excited about the potential of this discovery and plans to assess the entire Money Intrusion, including conducting further geophysical surveys in the coming months and into 2024.

Dreadnought Resources is optimistic about the future prospects of the project and looks forward to building on the knowledge gained from each program to further unlock the potential of the Money Intrusion. With the support of their partners, First Quantum Minerals, the company aims to continue exploring and expanding their understanding of this new system and its mineralization.

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