How Far Can Dreadnought Extend High-Grade Gold at Illaara’s Metzke’s Find?

Drilling Success at Metzke’s Find

Dreadnought Resources Ltd has announced encouraging results from a 43-hole reverse circulation (RC) drilling program at Metzke’s Find, part of its 100% owned Illaara Gold Project in Western Australia’s Yilgarn Craton. The program, spanning approximately 3,600 metres, aimed to infill and extend the existing gold resource, aligning with the company’s strategy to accelerate discovery and add near-term production ounces.

The drilling campaign has notably extended the known mineralised strike length of the Metzke’s lode from around 350 metres to approximately 600 metres, with the mineralisation remaining open to the north. This strike extension was highlighted by intercepts such as 10 metres at 1.5 grams per tonne (g/t) gold from 20 metres depth, including a higher-grade 2 metres at 5.8 g/t Au.

High-Grade Intercepts at Shallow Depths

Infill drilling has delivered significant high-grade gold intercepts at shallower depths than previously recorded, which is expected to positively impact the current resource estimate. Noteworthy results include 6 metres at 8.9 g/t Au from 117 metres, featuring an exceptional 1 metre at 51.6 g/t Au, and 2 metres at 17.0 g/t Au from 136 metres. Additionally, a shallow intercept of 1 metre at 11.6 g/t Au from just 7 metres depth underscores the potential to add shallow ounces to the resource.

These results not only enhance the grade and confidence of the resource but also provide valuable material for upcoming metallurgical test work, a critical step towards assessing the economic viability of mining operations.

Strategic Implications and Future Plans

Dreadnought’s Managing Director, Dean Tuck, emphasised that advancing Metzke’s Find is central to the company’s ambition to become a self-funded explorer. By focusing on adding near-term production ounces through high-grade open-pit opportunities, Dreadnought aims to reduce reliance on external funding and generate internal cash flows to support further exploration.

The company plans to commence further infill and extensional drilling at Metzke’s Find in February and March 2026, with an updated resource estimate and scoping study to follow. Parallel structures identified during the recent drilling campaign will also be targeted, offering additional avenues for resource growth.

Broader Exploration Context

The Illaara Gold Project covers a substantial 800 square kilometres along a 70-kilometre strike of the Illaara Greenstone Belt, one of the most underexplored belts in the Yilgarn Craton. Dreadnought has consolidated this landholding since acquiring it from Newmont in 2019 and is now deploying modern exploration techniques, including systematic air core drilling planned for 2026, to unlock its potential.

Alongside Illaara, Dreadnought is advancing other projects such as the Mangaroon Gold Project and the Gifford Creek Carbonatite, which hosts critical minerals. These diversified assets position the company well within Western Australia’s rich mineral landscape.