Dreadnought Resources has confirmed near-complete gold recoveries from metallurgical tests at Metzke’s Find, underpinning a planned resource upgrade and scoping study for its Illaara Gold Project.
- Combined gravity and CIL gold recoveries average 98.9%
- Metzke’s Find mineralisation confirmed as free milling
- Resource update and scoping study scheduled for July 2026
- Illaara project covers 70km strike in underexplored Yilgarn Craton
- Self-funded development strategy with third-party processing planned
Metzke’s Find Delivers Near-Complete Gold Recovery
Dreadnought Resources Limited (ASX:DRE) has unveiled metallurgical test results from its Metzke’s Find deposit within the Illaara Gold Project that are nothing short of outstanding. Composite samples processed through conventional gravity and carbon-in-leach (CIL) circuits returned an average combined gold recovery of 98.9% across multiple grind sizes, peaking at 99.5% at the finest 75μm grind. Gravity recovery alone averaged a robust 78.5%, reaching as high as 91% in some composites.
This level of recovery confirms that the mineralisation at Metzke’s Find is free milling and amenable to standard extraction methods, bolstering the economic viability of the deposit. The test work, conducted by independent metallurgical consultants Strategic Metallurgy using Perth tap water, also demonstrated rapid leach kinetics with most gold extracted within eight hours.
Resource Upgrade and Study on the Horizon
The exceptional metallurgical performance feeds directly into Dreadnought’s plan to update and upgrade the existing high-grade resource at Metzke’s Find, currently estimated at 14,900 ounces at 6.8 g/t gold. This update is slated for July 2026 and will be followed by a scoping study to assess development pathways. Managing Director Dean Tuck emphasised that these results strongly support the company’s strategy to evolve into a self-funded explorer by advancing projects like Metzke’s Find and Star of Mangaroon, which can be commercialised through third-party processing and haulage arrangements.
Metzke’s Find, located in the Yilgarn Craton of Western Australia, is part of the Illaara Greenstone Belt, a substantial and underexplored 70-kilometre strike belt covering approximately 800 square kilometres. The project remains open along strike and at depth, with ongoing drilling programs expected to further define its potential. The company plans to incorporate these metallurgical results into the upcoming resource revision, alongside extensive drilling results due in the coming months.
Illaara’s Strategic Position and Exploration Potential
The Illaara Gold Project’s location near established mills at Davyhurst and Bottle Creek provides logistical advantages despite its historical remoteness. Previous exploration was limited by infrastructure constraints and iron ore focus, but Dreadnought’s consolidation of the belt since 2019 has unlocked the first systematic modern drilling campaigns. The company’s approach leverages modern geochemical and geophysical techniques to explore beneath shallow cover, targeting multiple structural corridors with known gold anomalism.
These developments complement Dreadnought’s broader portfolio, which includes the Star of Mangaroon project. Recent progress at Star of Mangaroon, including regulatory approvals and resource expansions, aligns with the company’s pathway to production through outsourced development and processing, a model that reduces capital intensity and market reliance. The company’s work plan for 2026 includes extensive drilling across Illaara and Mangaroon, with results from RC and air core programs anticipated over the next few months.
Notably, the company’s strategy and progress echo recent milestones at Star of Mangaroon, where mining approvals have been secured and resource expansions delivered, underscoring Dreadnought’s growing footprint in Western Australia’s gold sector. This is highlighted by the mining approval secured for Star of Mangaroon and the key mining approval that underpin the company’s self-funded explorer ambitions.
Metzke’s Find History and Geological Setting
Discovered in 1911, Metzke’s Find was historically mined for approximately 890 ounces of gold at an average grade of 40 g/t, but its remote location limited extensive follow-up. Modern drilling by Dreadnought since 2020 has confirmed high-grade mineralisation hosted within stacked quartz lodes controlled by a north-south trending shear zone. The deposit’s coarse-grained free gold nature, confirmed by metallurgical testing, is a key factor in the high gravity recoveries observed.
The company’s drilling has delivered significant intercepts including 4m at 19.9 g/t and 3m at 21.0 g/t gold, supporting the shallow high-grade resource that remains open. The upcoming resource update will integrate these results with the exceptional metallurgical data to refine the project’s development potential.
Looking Ahead: Drilling and Studies Across Portfolio
Dreadnought’s 2026 work plan is ambitious, with ongoing drilling at Metzke’s Find expected to yield further assay results between May and June. Concurrently, air core drilling across Illaara will continue through the year, alongside target definition and metallurgical studies at Mangaroon and Gifford Creek. These programs aim to build on recent discoveries, including the rare earth and niobium mineralisation at Gifford Creek, and the high-grade gold resources at Star of Mangaroon.
While the metallurgical results at Metzke’s Find are promising, the company’s path to production will hinge on the outcomes of the July resource update and scoping study, as well as the broader market environment and gold price dynamics. The self-funded development model, leveraging third-party processing, offers a pragmatic approach but carries execution risks typical of early-stage mining ventures.
Bottom Line?
Metzke’s Find metallurgical results validate Dreadnought’s strategy to advance a self-funded, high-grade gold project with a resource update and scoping study due mid-2026.
Questions in the middle?
- Will the July 2026 resource update significantly expand Metzke’s Find’s high-grade inventory?
- How will Dreadnought’s third-party processing model impact project economics and timelines?
- Can ongoing drilling across Illaara and Mangaroon deliver new discoveries to sustain growth?