Structural Complexity at Steve’s Reward Raises Questions on Drilling Strategy

Early Success at Steve’s Reward

Dreadnought Resources has delivered encouraging results from its recent reverse circulation (RC) drilling campaign at Steve’s Reward, a key prospect within the expansive Mangaroon Gold Project in Western Australia’s Gascoyne region. The program, comprising 28 holes over 2,375 metres, has extended the known gold-bearing lodes to approximately 1,000 metres of strike length, with gold intersected in 12 holes.

Notably, the drilling returned high-grade hits such as 1 metre at 10.3 grams per tonne (g/t) gold near the end of hole SRRC038 and 1 metre at 5.6 g/t from shallow depths in SRRC032. These results build on earlier discoveries, including intercepts of 4 metres at 4.1 g/t and 3 metres at 2.9 g/t from previous drilling campaigns, underscoring the prospect’s potential.

Geological Complexity and Next Steps

Despite these promising intercepts, the drilling has revealed a zone of structural complexity that challenges straightforward interpretation. Some strong gold-in-soil anomalies remain unexplained by the current drilling orientation, suggesting that the team may not yet be optimally targeting the mineralised structures. This complexity is not uncommon in orogenic gold systems, where faulting and folding can obscure the true geometry of mineralisation.

To address this, Dreadnought plans to commence a diamond drilling program in November 2025. This will include twinning and extending hole SRRC038, which ended in mineralisation, to provide critical structural data. The insights gained will inform the design of future RC drilling campaigns planned for 2026, aiming to better delineate the gold system and improve resource definition.

Broader Exploration Context

Steve’s Reward is part of the larger Bordah camp scale prospect, characterised by a substantial 2.6-kilometre by 600-metre gold-in-soil anomaly that remains open along strike. The Mangaroon Project itself spans approximately 5,000 square kilometres and hosts multiple gold and critical minerals targets, including the Star of Mangaroon mine with a high-grade resource and the Gifford Creek Carbonatite critical metals discovery.

Dreadnought’s strategy focuses on modern exploration techniques to unlock the potential of historically underexplored areas. The company’s self-funded model leverages existing resources and third-party infrastructure, reducing reliance on external capital and enabling sustained exploration efforts.

Looking Ahead

Additional soil sampling results from around 2,700 samples are expected in December 2025, which may further extend the known gold anomalies at Steve’s Reward. Meanwhile, drilling continues across other Mangaroon prospects such as Cullen’s Find, Midday Moon, and Midnight Star, with assay results pending. The coming months will be critical in refining geological models and advancing Dreadnought’s exploration pipeline.