Dreadnought Secures Key Mining Approval to Kickstart Star of Mangaroon Open Pit

Regulatory Green Light for Star of Mangaroon Mining

Dreadnought Resources (ASX:DRE) has cleared a crucial regulatory hurdle with the approval of its Mine Development and Closure Proposal (MDCP) for open pit mining at the Star of Mangaroon deposit in Western Australia's Gascoyne region. This key sanction paves the way for development activities, with the Native Vegetation Clearing Permit (NVCP) expected imminently to complete the approvals suite.

The Star of Mangaroon is part of Dreadnought's 100%-owned Mangaroon Gold Project, which hosts a substantial high-grade gold resource. The company plans to outsource funding, development, haulage, and processing to third parties, a model increasingly common in Western Australia’s gold sector to mitigate capital intensity and market funding risk. This approach aligns with Dreadnought’s ambition to become a self-funded explorer, focusing internal cashflows on exploration to deliver transformative discoveries.

High-Grade Resource and Commercialisation Strategy

The Star of Mangaroon resource boasts a total of approximately 75,600 tonnes at 11.1 g/t gold for 27,000 ounces, predominantly in the Indicated category, with exceptional metallurgical recoveries averaging 96.7% from gravity and carbon-in-leach circuits. The deposit’s shallow, high-grade nature enhances its appeal for open pit extraction and processing through Black Cat’s Paulsens Gold Operations under a joint venture arrangement.

Managing Director Dean Tuck emphasised that the MDCP approval is a critical step towards generating cash flow from the Star of Mangaroon open pit, a cornerstone of the company’s "Finding More Gold, Faster" strategy. This commercialisation blueprint will be replicated at Metzke’s Find, another project within Dreadnought’s portfolio, where resource updates and scoping studies are underway.

Dreadnought’s approach to outsourcing key operational components reduces reliance on equity markets and external funding, a strategy that may appeal to investors wary of dilution. However, it also means margins will depend on third-party arrangements, a factor to monitor as development progresses.

Comprehensive Work Plan for 2026

The company has laid out an ambitious timetable for the year ahead. Mining and processing at Star of Mangaroon are slated to commence in the June quarter, leveraging the Paulsens facility. Concurrently, reverse circulation (RC) drilling will target multiple prospects across the Mangaroon Gold Project, including Bordah, High Range North and South, and Minga Bar, aiming to define new targets and expand the resource base.

Exploration at Metzke’s Find will continue with resource-related RC and diamond drilling, alongside technical and environmental studies feeding into a mining proposal submission. Illaara Gold will see phased air core drilling campaigns, while Gifford Creek’s critical metals project advances with mineralogical and metallurgical test work scheduled.

This comprehensive program reflects Dreadnought’s multi-commodity focus across gold, rare earths, and base metals, positioning the company to capitalise on a diverse mineral portfolio. The recent acquisition of additional Mangaroon tenements, which expanded the rare earth footprint, complements this strategy and enhances the company’s critical minerals potential, as outlined in its recent rare earths footprint acquisition.