Star of Mangaroon Drilling Yields 6m at 22.9 g/t Au, Follow-Up Drilling Underway
Dreadnought Resources has reported promising assay results from recent drilling at its Mangaroon Gold Project, confirming extensions of shallow, high-grade gold mineralisation and setting the stage for further exploration.
- High-grade gold assays extend Star of Mangaroon resource
- Nuggety gold mineralisation confirmed at Pritchard’s and Popeye
- Heap leach sampling indicates potential early processing feed
- Follow-up drilling with two rigs to target extensions and new discoveries
- Strategy to become self-funded explorer leveraging third-party development
Extending a Storied Gold Camp
Dreadnought Resources has unveiled assay results from its latest reverse circulation (RC) and auger drilling programs at the Mangaroon Gold Project in Western Australia's Gascoyne region. The highlight is the Star of Mangaroon, a historically prolific gold producer, where recent drilling has successfully extended near-surface, high-grade gold mineralisation beyond the current resource boundaries. Notably, a standout intercept of 6 metres grading 22.9 grams per tonne gold from just 12 metres depth underscores the potential for resource growth.
Confirming Nuggety Gold Elsewhere
Beyond Star of Mangaroon, Dreadnought’s drilling at Pritchard’s and Popeye prospects has confirmed the presence of nuggety gold mineralisation, a notoriously challenging but potentially rewarding style of gold deposit. The company also conducted auger sampling over a historic heap leach site within the planned open pit footprint, returning encouraging grades that could contribute to early processing feedstock. However, results at the Lead Mine and Two Peaks were less conclusive, prompting a review of drilling strategies in those areas.
Strategic Follow-Up and Discovery Drilling
With two rigs; a diamond and an RC rig; mobilising to site, Dreadnought is poised to commence follow-up drilling to expand known mineralisation and initiate discovery drilling at new targets such as Steve’s Reward and Inevitable. This approach aligns with the company’s “Finding More Gold, Faster” strategy, aiming to accelerate resource growth and project development.
A Self-Funded Explorer Model
Dreadnought’s broader strategy involves transforming into a self-funded explorer by outsourcing funding, development, haulage, and processing to third parties. This model, common in Western Australia’s gold sector, reduces reliance on capital markets and focuses internal resources on exploration and discovery. The recent drilling results and planned programs are critical steps toward validating this approach and advancing the Mangaroon Gold Project toward production.
Historical Context and Modern Techniques
The Mangaroon Gold Project covers a significant shear zone with multiple historical mines and gold occurrences, many of which have seen limited modern exploration. Dreadnought is applying contemporary geochemical and geophysical methods to unlock new prospects beneath shallow cover, building on historical data while addressing previous data gaps. The company’s rigorous sampling, including photon assay techniques and quality control measures, enhances confidence in the reported results.
Bottom Line?
As Dreadnought advances drilling and resource updates, the market will watch closely to see if the Mangaroon Gold Project can deliver on its promise of high-grade, shallow gold in a self-funded model.
Questions in the middle?
- How will the new assay results quantitatively impact the upcoming resource update?
- What are the timelines and funding arrangements for third-party development and processing?
- Can the company overcome nuggety gold challenges to deliver consistent production grades?
