Dreadnought Acquires E09/2383, Unlocking 116 g/t Gold at Jailor Target

Strategic Tenement Acquisition Strengthens Mangaroon Position

Dreadnought Resources Ltd has taken a decisive step in consolidating its Mangaroon Gold Project in Western Australia's Gascoyne region by acquiring tenement E09/2383. This acquisition fills a critical gap in the company's landholding, granting control over a portion of the highly prospective Jailor gold target, a subcropping lode that remains open along strike.

The newly acquired tenement complements Dreadnought's existing tenure, which already covers a significant portion of the Mangaroon shear zone, a structural corridor known for hosting high-grade gold mineralisation. The company’s Managing Director, Dean Tuck, emphasised the importance of this consolidation for advancing their discovery-focused strategy, particularly within the Bordah camp-scale prospect.

High-Grade Gold Mineralisation at Jailor

Rock chip sampling at Jailor has yielded impressive assay results, with grades ranging from 7.5 g/t to an exceptional 116 g/t gold. Recent sampling extended the known strike length of the lode to approximately 370 metres, crossing into the newly acquired tenement. These results underscore the potential for significant gold mineralisation along this corridor, which has seen limited modern exploration due to fragmented land ownership in the past.

Beyond Jailor, the Bordah area hosts other compelling targets such as the Inevitable massive sulphide prospect, identified through airborne VTEM surveys and surface geochemistry. This target has returned notable base metal assays, including copper, lead, and silver, indicating a polymetallic system that could complement the gold discoveries.

Exploration Momentum and Future Plans

Dreadnought plans to recommence target generation and definition work across the Mangaroon project in February 2025, focusing on detailed mapping, sampling, and geophysical surveys. The company is advancing multiple prospects, including Bordah and High Range, which have demonstrated stronger and larger gold-in-stream sediment anomalies than the historically mined Star of Mangaroon area.

This exploration push aligns with Dreadnought’s broader strategy to evolve into a self-funded explorer. By developing a high-grade open pit at Star of Mangaroon and outsourcing mining and processing, the company aims to generate internal cash flows to fund further discoveries, reducing reliance on external capital markets.

Project Scale and Resource Potential

The Mangaroon project spans over 4,500 square kilometres and includes multiple mineralised systems beyond gold, such as nickel-copper-cobalt-PGE and rare earth elements. The gold camp itself contains granted mining leases and numerous historical workings, but modern exploration has been limited until Dreadnought’s recent consolidation efforts.

With an existing resource at Star of Mangaroon featuring shallow, high-grade gold and exceptional metallurgical recoveries, the addition of E09/2383 and the focus on underexplored targets like Jailor and Inevitable could significantly enhance the project’s resource base and development prospects.

Transaction Details and Market Implications

The acquisition of tenement E09/2383 was completed with a payment of $50,000, issuance of over 3.3 million fully paid ordinary shares to the vendors, and a 1% gross royalty. This modest upfront cost reflects the strategic value Dreadnought sees in securing contiguous ground for systematic exploration.

Investors should watch closely as Dreadnought advances its exploration programs and begins drilling, which will be critical in validating the high-grade potential indicated by surface sampling. The company’s approach to consolidating tenure and focusing on discovery-driven targets positions it well in a competitive gold exploration landscape.