Steve’s Reward Soil Gold Hits 770ppb in 2.6km Anomaly at Mangaroon

Exploration Breakthrough at Steve’s Reward

Dreadnought Resources Ltd has announced a significant exploration milestone at Steve’s Reward, a key prospect within its wholly owned Mangaroon Gold Project in Western Australia’s Gascoyne region. A recent surface geochemical survey has delineated a substantial gold-in-soil anomaly measuring approximately 2.6 kilometres by 600 metres, which remains open along strike. This discovery marks a major step forward in the company’s strategy to identify new high-grade gold deposits in a historically underexplored area.

Unprecedented Soil Gold Values and Untapped Potential

Notably, the strongest gold-in-soil anomaly lies about 500 metres northwest of recent drilling activities and includes one of the highest soil gold readings recorded at Mangaroon to date, with a peak value of 770 parts per billion (ppb) gold. Steve’s Reward has never been subjected to drilling or mining, underscoring the prospect’s untapped potential. Fifteen reverse circulation (RC) drill holes have recently been completed, with assay results expected imminently in July 2025, which will provide critical insights into the grade and continuity of mineralisation.

Strategic Exploration and Broader Project Context

The Mangaroon Gold Project covers a vast 5,000 square kilometre area along the Mangaroon Shear Zone, a structurally complex corridor known for hosting orogenic gold deposits. Dreadnought’s exploration approach combines modern geochemical and geophysical techniques, including detailed soil and stream sediment sampling and airborne magnetic surveys, to refine targeting and unlock new discoveries beneath shallow cover. The company is concurrently advancing drilling programs at other prospects such as Star of Mangaroon, Popeye, and Inevitable, with assay results staggered through to September 2025.

A Self-Funded Model Focused on Discovery

Dreadnought’s strategy emphasizes transforming into a self-funded explorer by leveraging high-grade open pit development at Star of Mangaroon, where funding and processing are outsourced to third parties. This model reduces reliance on external capital markets and allows the company to focus internal resources on exploration and discovery. The recent findings at Steve’s Reward align with this approach, potentially adding a new dimension to the project’s resource base and future production pipeline.

Looking Ahead

As the company awaits assay results from the recent drilling, the market will be watching closely for confirmation of the scale and grade of mineralisation at Steve’s Reward. Positive outcomes could significantly enhance the Mangaroon Project’s profile and underpin further exploration investment. Meanwhile, ongoing drilling and assay updates from multiple prospects within the project will continue to shape the narrative around Dreadnought’s growth trajectory in the coming months.