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DREADNOUGHT RESOURCES LTD Capital/Financing Update 2022

Aug 21, 2022

64785_rns_2022-08-21_3bdc226d-e287-45a2-99ee-11c5a94ddea3.pdf

Capital/Financing Update

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22 August 2022

YIN DRILLING COMPLETE, SIGNIFICANT GROWTH POTENTIAL – MANGAROON 100% DRE

HIGHLIGHTS

  • Initial JORC Mineral Resource (“Resource”) RC drilling (120 holes, 12,255m) at the Yin Rare Earth Element (“REE”) prospect has been completed over an initial 3kms of strike with mineralisation remaining open in all directions and at depth.

  • Magnetic data indicates that the main Yin trend extends >16kms in strike, with significant growth potential beyond the initial 3km of Resource drilling. Initial JORC Mineral Resource over the first 3kms of Yin expected in the December 2022 quarter.

  • Additional targets identified (Figure 1): ironstones north of Yin (Y7); possible connection between Y3 and Yin (Y8); and Y42 located 10 kms east of Y3. Seventh carbonatite target (C7) identified 5kms southeast of C5. Assay results of rock chips over these new targets expected in September 2022.

  • A recently completed detailed magnetic-radiometric survey has resulted in the identification of 140 anomalies prospective for REE mineralisation. REE mineralisation has been confirmed at 22 of the targets and ~100 out of the 140 targets remain to be inspected.

  • RC rig currently mobilising to Y3 (rock chips up to 39.7% TREO (6.30% Nd2O3+Pr6O11)) with first pass drilling of five carbonatite targets (C1-C5) to commence in September 2022. Importantly, the carbonatites could be the source REE intrusions for the region.

Dreadnought Resources Limited (“ Dreadnought ”) is pleased to announce that infill RC drilling has continued to intersect thick, mineralised, REE ironstones at Yin, within its 100% owned Mangaroon Project in the Gascoyne Region of Western Australia.

Dreadnought’s Managing Director, Dean Tuck, commented: “With over 12,000m of drilling now complete at Yin, our understanding of the petrophysical properties has significantly improved. This understanding has led to the identification

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of the Yin trend extending for ~16kms in strike, on which to date we have only drill tested ~3kms. We have also identified three new ironstone trends, including a possible link between Yin and Y3 and a new carbonatite target at C7. We look forward to receiving assay results from our new targets and to inspecting the remaining 100 targets in our database.”

Figure 1: Plan view image showing the location of recently completed and planned RC drilling at Mangaroon in relation to REE targets.

www.dreadnoughtresources.com.au [email protected]

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

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SNAPSHOT - MANGAROON RARE EARTHS

100% Controlled by Dreadnought

  • Mangaroon REE are 100% owned and controlled by Dreadnought.

Genuine scale potential already at >16km Yin with initial Resource expected in the December 2022 quarter

  • Yin already contains 3km of mineralised strike and remains open along strike and at depth.

- Significant, Step Change, Growth Potential Beyond Yin

  • Mineralised Y2 and Y3 REE ironstones confirmed - drilling in August 2022.

  • Seven carbonatite targets (C1-C7) may be the regional source of REE – drilling in September 2022.

  • Confirmed mineralisation at 22 outcropping targets with another 3 prospective, undercover targets – drilling planned.

  • 100 additional anomalies prospective for REE identified – currently under assessment.

- High Grade TREO potential

  • Previously reported assays from first line of drilling at Yin containing high-grade REE include:

  • YINRC005: 15m @ 4.08% TREO from 105m

  • YINRC001: 10m @ 6.05% TREO from 11m

  • YINRC002: 7m @ 3.47% TREO from 29m

  • YINRC003: 11m @ 3.11% TREO from 58m

  • Rock Chips up to 39.7% TREO (6.30% Nd2O3+Pr6O11) from Y3.

- High grade Neodymium and Praseodymium Potential

  • Yin, like the Yangibana REE project controlled by the ~$450M Hastings Technology Metals Ltd (ASX.HAS), (“ Hastings ”) appears to be a globally unique REE deposit due to the high proportion of neodymium and praseodymium in the total rare earth oxide (NdPr ratio).

Positive Metallurgy Results

  • Initial metallurgical test work from Yin performed well, achieving a recovery of 92.8% at a concentrate grade of 12.3% Nd2O3 and an average 40% TREO.

  • Minerals hosting the REE at Yin are predominantly monazite which are amenable to commercial processing.

Analogous to a Globally Unique, Commercially Viable Development 25kms Away

  • Yangibana is Dreadnought’s immediate neighbour located only 25km to the northeast of Yin.

  • Yangibana currently has a JORC Resource* of 27.42Mt @ 0.97% TREO with 0.33% Nd2O3+Pr6O11.

  • Yangibana is under construction and development with first production planned for 2024.

Global Strategic Imperative Driving Rare Earth Growth & Prices

  • Supply chain security and low carbon transition are imperatives against a backdrop of heightened geopolitical tension pushing supply away from China.

  • *HAS.ASX: 5 May 2021 “Yangibana Project updated Measured and Indicated Resource tonnes up by 54%”

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au

[email protected]

+61 (08) 9473 8345

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Figure 2: Plan view over an orthoimage showing the location of the recently drilled holes (red dots) successfully identifying REE over 3km. Planned infill and extensional holes (white dots) are also shown.

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au

[email protected] +61 (08) 9473 8345

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Technical Discussion on the RC Drill Program (YINRC001-YINRC120)

Yin is interpreted to be a >16km long REE bearing ironstone swarm that both outcrops and extends under shallow cover. Yin shows evidence for parallel or stacked ironstone horizons (see Figures 2 and 4). Rock chips collected in 2021 showed consistent mineralisation over ~2.5km of outcropping ironstone with values up to 13.0% TREO and a general trend of the neodymium and praseodymium to TREO ratio (“Nd2O3+Pr6O11:TREO”) increasing to the north.

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Figure 3: Chip tray from YINRC001 showing mineralised oxidized ironstone from 1-34m and grading into dark fenitic alteration.

Drilling to date has confirmed the presence of the main REE bearing lode horizon along ~3km of strike often with multiple parallel lodes intersected down hole. The main lode horizon pinches, swells and changes dip and orientation along strike and ranges in thickness from 1-45m. The parallel lodes have been intersected above and below the main lode and often exhibit a similar orientation as the main lode with thickness ranging from 1-10m.

The REE bearing ironstones consist of goethite and hematite dominated oxide zones near the surface (top ~80m) transitioning into a fresh ferrocarbonatite dyke (fresh REE ironstone), comprised of ankerite and siderite below the base of oxidation. The ironstones are surrounded by a variable zone of fenitised country rock. Both the ironstone and the fenite immediately surrounding the ironstone are mineralised with each ironstone and ferrocarbonatite containing a central interval of higher-grade mineralisation.

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Figure 4: Chip tray from YINRC006 showing dark fenitic alteration grading into two mineralised fresh ironstones (ferrocarbonatite) from 127-131m and 139m-160m.

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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Yangibana REE ironstones (E09/2448, E09/2450, E09/2535: DRE 100%)

The Yangibana ironstones are readily accessible and located 5-20kms from the Cobra-Gifford Creek Road. The ironstones were first explored in 1972 for base metals. The REE potential of the ironstones was first assessed in 1985 and has seen substantial work by Hastings since 2011. The ~$450m Hastings controls the Yangibana Ironstone Project and is Dreadnought’s immediate neighbour being to the north of the Lyons River Fault.

Yangibana currently has a JORC 2012 Mineral Resource* of 27.42Mt @ 0.97% TREO with 0.33% Nd2O3+Pr6O11 and is under construction and development. The high proportion of Nd2O3+Pr6O11 (used for electric vehicle magnets and renewable power generation) is an important component of Yangibana’s economics.

Prior to Dreadnought, no significant REE exploration was undertaken south of the Lyons River Fault being the point at which the Yangibana REE ironstones were considered to terminate.

Mangaroon REE ironstones (E09/2448, E09/2450, E09/2535: DRE 100%)

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Yin
Y3
New
Targets
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New
Targets
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The outcropping Yangibana REE ironstones have a distinctive radiometric anomaly and appear as gossanous iron rich outcrops visible in ortho-imagery. From June to September 2021, Dreadnought announced the identification of the Yin, Y2 and Y3 REE ironstones using wide spaced 1990s government radiometric data and modern ortho-imagery. From September to November 2021, Dreadnought undertook a ~43,000-line kilometre magnetic-radiometric survey resulting in the identification of seven carbonatite targets to date (C1-C7).

Dreadnought has recently completed a project wide targeting exercise of the substantial and detailed magnetic-radiometric survey which has resulted in the identification of 140 anomalies prospective for REE mineralisation. To date, only 40 of these anomalies have been mapped and sampled resulting in the confirmation of outcropping REE mineralisation at 22 targets with an additional 10 targets determined to be prospective but requiring further work and 8 targets considered un-prospective. Most of these targets make up and are located around Yin, Y2, Y3 and C1-C5. There remain 100 targets to be mapped and sampled and are all located within a 40km radius of Yin, Y2, Y3 and C1-C5.

Mapping and sampling of the remaining 100 targets is ongoing with further results expected from August through October 2022.

Figure 5: Image of a portion of the Thorium radiometric image showing the location of Yin, Y3 and some of the new targets to be assessed.

*HAS.ASX: 5 May 2021 “Yangibana Project updated Measured and Indicated Resource tonnes up by 54%”

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected] +61 (08) 9473 8345

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Background on Mangaroon (E08/3274, E8/3178, E09/2384, E09/2433, E09/2473: Option with FQM) (E08/3275, E09/2370, E09/2448, E09/2449, E09/2450, E09/2467, E09/2478: 100%)

Mangaroon covers >4,900 sq kms of the Mangaroon Zone in the Gascoyne Region of Western Australia. Part of the project is targeting Ni-Cu-PGE and is subject to a joint venture with First Quantum Minerals (earning up to 70%) – Figure 17. The region is host to high-grade gold mineralisation at the Bangemall/Cobra and Star of Mangaroon gold mining centres and the high-grade Yangibana REE deposits.

Dreadnought has located outcropping high-grade gold bearing quartz veins along the Edmund and Minga Bar Faults, outcropping high-grade REE ironstones, similar to those under development at Yangibana and outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion.

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Figure 6: Plan view map of Mangaroon showing the location of the FQM JV and 100% DRE ground in relation to major structures, geology and roads.

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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For further information please refer to previous ASX announcements:

  • 11 June 2021

  • High-Grade REE Ironstones Outcropping at Mangaroon

  • 19 July 2021 High-Grade REE Ironstones Confirmed Over 2.5kms at Mangaroon

  • 1 September 2021 Encouraging Results for Rare Earths at Yin

  • 9 September 2021 Four New REE Ironstones Discovered at Mangaroon

  • 24 September 2021 Airborne Magnetic-Radiometric Survey Commenced at Mangaroon

  • 2 February 2022 Rare Earths, Phosphate, Niobium & Zirconium Results from Mangaroon

  • 16 June 2022 First Drilling at Yin Intersects High-Grade Rare Earths

UPCOMING NEWSFLOW

August/November: Further updates on REE drilling at Yin, Y2, Y3 ironstones and C1-C5 Carbonatites (Mangaroon 100%)

August: Assays from Peggy Sue pegmatite sampling (Central Yilgarn)

August: Assays from RC drilling at Nelson, Trafalgar, Metzke’s Find, Kings, Spitfire (Central Yilgarn) August: Results from Central Komatiite Belt nickel sulphide target generation work (Central Yilgarn) August: Assays for Ni-Cu sulphides at the Money Intrusion (Mangaroon FQM Option)

August-November: REE assays from RC drilling ironstones/carbonatites (Mangaroon 100%)

August/September: Initial JORC Resource for Metzke’s Find Au (Central Yilgarn)

8 September: Presenting at New World Metals Conference in Perth

20-22 September: Presenting at New World Metals Conference in Sydney and Melbourne

September: Audited Financial Report

October/November: Further results from Metallurgical test work at Yin (Mangaroon 100%)

November: Annual General Meeting

December Quarter: initial Yin JORC Resource (Mangaroon 100%)

~Ends~

For further information please contact: Dean Tuck Jessamyn Lyons Managing Director Company Secretary Dreadnought Resources Limited Dreadnought Resources Limited E:[email protected] E:[email protected]

This announcement is authorised for release to the ASX by the Board of Dreadnought.

Competent Person’s Statement

The information in this announcement that relates to geology and exploration results and planning was compiled by Mr. Dean Tuck, who is a Member of the AIG, Managing Director, and shareholder of the Company. Mr. Tuck has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr. Tuck consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. The Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the forma and context in which the Competent Person’s findings are presented have not been materially modified from the original reports.

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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INVESTMENT HIGHLIGHTS

Kimberley Ni-Cu-Au Projects

Dreadnought controls the second largest land holding in the highly prospective West Kimberley region of WA. The main project area, TarrajiYampi, is located only 85kms from Derby and has been locked up as a Defence Reserve since 1978.

Tarraji-Yampi presents a rare first mover opportunity with known outcropping mineralisation and historic workings from the early 1900’s which have seen no modern exploration.

Results to date indicate that there may be a related, large scale, Proterozoic Cu-Au-Ag-Bi-Sb-Co system at TarrajiYampi, similar to Cloncurry / Mt Isa in Queensland and Tennant Creek in the Northern Territory.

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Mangaroon Ni-Cu-PGE JV & REE Au 100% Project

Mangaroon is a first mover opportunity covering ~4,500sq kms located 250kms south-east of Exmouth in the vastly underexplored Gascoyne Region of WA. Part of the project is targeting Ni-Cu-PGE and is subject to a joint venture with First Quantum Minerals (earning up to 70%). The joint venture area contains outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion. Dreadnought’s 100% owned areas contain outcropping high-grade gold bearing quartz veins along the Edmund and Minga Bar Faults and outcropping high-grade REE ironstones, similar to those under development at the Yangibana REE Project. Recently six potentially REE bearing carbonatite intrusions have been identified which may also be the source of the regional rare earths.

Illaara Gold, Base Metals, Critical Minerals & Iron Ore Project

Illaara is located 190km northwest of Kalgoorlie in the Yilgarn Craton and covers 75kms of strike along the Illaara Greenstone Belt. Illaara is prospective for typical Archean mesothermal lode gold deposits, VMS base metals and critical metals including Lithium-Caesium-Tantalum.

Dreadnought has consolidated the Illaara Greenstone Belt mainly through an acquisition from Newmont. Prior to Newmont, the Illaara Greenstone Belt was predominantly held by iron ore explorers and remains highly prospective for iron ore.

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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Table 1: Mineralised intervals as confirmed by an infield preliminary pXRF analysis >0.2% TREO.

Hole ID From
(m)		 To
(m)		 Interval
(m)		 Lithology Prospect
YINRC001 1 34 33 Oxide ironstone and fenite alteration Yin
YINRC002
and		 16 17 2 Fenite alteration
24 55 31 Oxide ironstone and fenite alteration
YINRC003
and		 23 25 2 Fenite alteration
58 75 17 Oxide ironstone
YINRC004
and
and
and		 3 6 3 Heavilyweathered iron rich saprolite
12 13 1 Oxide ironstone
60 63 3 Fenite alteration
81 98 17 Oxide ironstone and fresh ferrocarbonatite ironstone
YINRC005
and
and		 18 29 11 Fenite alteration
88 90 2 Fresh ferrocarbonatite ironstone
95 129 34 Oxide ironstone and fresh ferrocarbonatite ironstone
YINRC006
and		 85 104 19 Oxide ironstone and fresh ferrocarbonatite ironstone
139 165 26 Fresh ferrocarbonatite ironstone
YINRC007 0 14 17 Oxide ironstone
17 18 1 Oxide ironstone
YINRC008 19 40 21 Oxide ironstone and fenite alteration
47 48 1 Fenite alteration
YINRC009 5 7 2 Oxide ironstone and fenite alteration
56 62 6 Oxide ironstone and fenite alteration
68 83 15 Oxide ironstone and fenite alteration
YINRC011 106 123 17 Oxide ironstone and fresh ferrocarbonatite ironstone
YINRC012 152 158 6 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC014 0 8 8 Oxide ironstone
20 25 5 Oxide ironstone
YINRC018 1 4 4 Oxide ironstone
YINRC019 13 32 19 Oxide ironstone
36 40 4 Oxide ironstone and fenite alteration
58 60 2 Glimmerite
YINRC020 18 26 8 Oxide ironstone and fenite alteration
38 39 1 Oxide ironstone
50 54 4 Oxide ironstone
YINRC021 20 22 2 Oxide ironstone
51 52 1 Oxide ironstone
77 90 15 Fenite alteration
YINRC022 97 113 16 Fresh ferrocarbonatite ironstone and fenite alteration
133 137 4 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC023 3 19 16 Oxide ironstone and fenite alteration
YINRC024 44 58 14 Oxide ironstone and fenite alteration
67 70 3 Oxide ironstone
YINRC025 62 64 2 Fenite alteration
84 100 16 Oxide ironstone and fenite alteration
111 117 6 Fenite alteration
YINRC026 25 40 15 Oxide ironstone and fenite alteration
YINRC027 32 34 2 Fenite alteration
39 40 1 Fenite alteration
55 70 15 Oxide ironstone and fenite alteration
YINRC028 61 63 2 Fenite alteration
77 111 34 Oxide ironstone and fenite alteration
117 123 7 Metasediments

www.dreadnoughtresources.com.au [email protected]

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

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Hole ID From
(m)		 To
(m)		 Interval
(m)		 Lithology Prospect
YINRC029 49 51 2 Oxide ironstone Yin
YINRC030 104 108 4 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC031 155 156 1 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC032 27 30 3 Oxide ironstone
YINRC033 58 67 9 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC034 111 117 6 Fresh ferrocarbonatite ironstone
YINRC035 14 21 7 Oxide ironstone and fenite alteration
YINRC036 50 60 10 Oxide ironstone and fenite alteration
YINRC037 93 101 8 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC038 13 15 2 Oxide ironstone
YINRC039 62 63 1 Fenite alteration
YINRC040 12 18 6 Oxide ironstone
YINRC041 61 67 6 Fresh ferrocarbonatite ironstone
YINRC042 102 109 7 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC043 12 15 3 Fenite alteration
YINRC044
and		 49 51 2 Fenite alteration
56 59 3 Fenite alteration
YINRC045 5 7 2 Oxide ironstone and fenite alteration
80 82 2 Fenite alteration
95 97 2 Oxide ironstone
YINRC046 3 4 1 High Nb fenite alteration
9 12 3 Fenite alteration
29 30 1 Fenite alteration
YINRC047 53 59 6 Fenite alteration
YINRC048 41 42 1 Fenite alteration
59 60 1 Fenite alteration
82 83 1 High Nb fenite alteration
YINRC052 98 99 1 Fresh ferrocarbonatite ironstone
106 107 1 Fresh ferrocarbonatite ironstone
YINRC053 35 36 1 Fenite alteration
YINRC055 27 42 15 Oxide ironstone and fenite alteration
YINRC056 67 75 7 Oxide ironstone
YINRC057 19 20 1 Oxide ironstone
46 51 5 Oxide ironstone
YINRC058 29 31 2 Oxide ironstone
64 66 2 Fenite alteration
71 75 4 Oxide ironstone
83 91 8 Oxide ironstone and fenite alteration
YINRC059 59 66 7 Oxide ironstone and fenite alteration
92 129 37 Oxide ironstone and fenite alteration
YINRC060 3 12 9 Glimmerite
YINRC061 42 45 3 Oxide ironstone and fenite alteration
52 56 4 Fenite alteration
59 61 2 Fenite alteration
YINRC062 113 121 8 Oxide ironstone and fenite alteration
YINRC063 8 10 2 Fenite alteration
YINRC064 84 87 3 Oxide ironstone and fenite alteration
96 100 4 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC065 135 145 10 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC066 26 42 16 Oxide ironstone
YINRC067 93 104 11 Fresh ferrocarbonatite ironstone

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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Hole ID From
(m)		 To
(m)		 Interval
(m)		 Lithology Prospect
YINRC068 9 14 5 Oxide ironstone and fenite alteration Yin
YINRC069 52 53 1 Oxide ironstone
60 62 2 Fenite alteration
86 87 1 Fenite alteration
YINRC070 33 34 1 Oxide ironstone
YINRC072 19 33 14 Oxide ironstone
YINRC073 87 88 1 Oxide ironstone
YINRC074 33 39 6 Oxide ironstone
YINRC075 54 64 10 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC076 82 94 12 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC077 14 20 6 Oxide ironstone
YINRC078 53 55 2 Oxide ironstone
YINRC079 84 87 3 Fresh ferrocarbonatite ironstone
YINRC080 37 40 3 Magnetite ironstone
YINRC081 67 83 16 Magnetite ironstone and fenite alteration
95 96 2 Fenite alteration
YINRC082 5 6 1 Oxide ironstone
32 33 1 Fenite alterations
94 103 9 Magnetite ironstone and fenite alteration
115 118 3 Magnetite ironstone
YINRC083 2 23 21 Oxide ironstone
YINRC084 14 18 4 Fenite alteration
YINRC085 0 2 2 Iron lag
8 30 22 Oxide ironstone and fenite alteration
YINRC086 11 14 3 Oxide ironstone
20 21 1 Fenite alteration
30 54 24 Oxide ironstone and fenite alteration
YINRC087 2 6 4 Oxide ironstone
53 85 32 Oxide ironstone
YINRCWB1 35 78 43 Oxide ironstone and fenite alteration
YINRC088 67 71 4 Oxide ironstone and cavity
95 115 20 Oxide ironstone and fenite alteration
YINRC089 76 77 1 Fenite alteration
120 147 27 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC090 184 192 8 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC091 147 164 17 Fresh ferrocarbonatite ironstone and fenite alteration
168 169 1 Fresh ferrocarbonatite ironstone
173 195 22 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC092 5 10 5 Oxide ironstone
39 56 17 Oxide ironstone,fenite alteration and cavity
YINRC093 47 84 37 Oxide and fresh ferrocarbonatite ironstone
YINRC094 1 11 10 Oxide ironstone and fenite alteration
70 110 40 Oxide and fresh ferrocarbonatite ironstone
117 118 1 Fresh ferrocarbonatite ironstone
YINRC095 8 15 7 Saprolite
21 22 1 Fenite alteration
24 27 3 Fenite alteration
69 70 1 Fenite alteration
92 137 46 Oxide and fresh ferrocarbonatite ironstone
140 141 1 Fenite alteration
172 173 1 Fenite alteration

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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Hole ID From
(m)		 To
(m)		 Interval
(m)		 Lithology Prospect
YINRC096 9 23 14 Oxide ironstone and fenite alteration Yin
45 46 1 Oxide ironstone
88 89 1 Fenite alteration
106 107 1 Fresh ferrocarbonatite ironstone
115 119 4 Fresh ferrocarbonatite ironstone
133 152 19 Fresh ferrocarbonatite ironstone
YINRC097 58 59 1 Fenite alteration
69 72 3 Oxide and fresh ferrocarbonatite ironstone
98 99 1 Fenite alteration
100 102 2 Fresh ferrocarbonatite ironstone and fenite alteration
109 110 1 Fenite alteration
135 136 1 Fenite alteration
142 144 2 Fresh ferrocarbonatite ironstone
146 148 2 Fresh ferrocarbonatite ironstone
153 175 22 Fresh ferrocarbonatite ironstone
YINRC098 166 168 2 Fresh ferrocarbonatite ironstone
179 193 14 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC099 115 117 2 Oxide ironstone
YINRC100 32 33 1 Oxide ironstone
YINRC101 55 63 8 Oxide ironstone
YINRC102 52 54 2 Oxide ironstone
96 99 3 Fresh ferrocarbonatite ironstone
YINRC103 115 120 5 Fresh ferrocarbonatite ironstone and fenite alteration
153 154 1 Fresh ferrocarbonatite ironstone
188 204 16 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC104 38 49 11 Oxide ironstone
YINRC105 77 88 11 Oxide ironstone
YINRC106 29 30 1 Fenite alteration
80 82 2 Fresh ferrocarbonatite ironstone
92 98 6 Fresh ferrocarbonatite ironstone and fenite alteration
108 110 2 Fenite alteration
YINRC107 65 66 1 Magnetite alteration
95 96 1 Glimmerite
YINRC108 73 74 1 Magnetite ironstone
149 154 9 Fresh ferrocarbonatite ironstone and fenite alteration
YINRC109 123 126 3 Fresh ferrocarbonatite ironstone and fenite alteration
137 138 1 Fresh ferrocarbonatite ironstone
163 166 3 Magnetite ironstone
YINRC110 18 21 3 Fenite alteration
YINRC112 13 15 2 Magnetite ironstone
YINRC113 53 55 2 Magnetite ironstone
YINRC114 70 72 2 Magnetite ironstone
84 85 1 Fenite alteration
YINRC115 22 23 1 Magnetite ironstone
YINRC116 78 81 3 Magnetite ironstone
YINRC117 152 153 1 Fenite alteration
YINRC119 92 93 1 Fenite alteration

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au [email protected]

+61 (08) 9473 8345

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Table 2: Drill Collar Data (GDA94 MGAz50)

Hole ID Easting Northing RL Dip Azimuth EOH **Type ** Prospect
YINRC001 401657 7350202 302 -60 270 81 RC Yin
YINRC002 401696 7350203 303 -60 270 123 RC
YINRC003 401735 7350204 302 -60 270 100 RC
YINRC004 701779 7350202 301 -60 270 117 RC
YINRC005 401816 7350202 301 -60 270 141 RC
YINRC006 401856 7350202 300 -60 270 183 RC
YINRC007 401704 7350304 303 -60 270 51 RC
YINRC008 401742 7350305 302 -60 270 75 RC
YINRC009 401782 7350302 301 -60 270 99 RC
YINRC010 401538 7350102 300 -60 270 81 RC
YINRC011 401825 7350304 300 -60 270 135 RC
YINRC012 401861 7350301 304 -60 270 177 RC
YINRC013 401577 7350105 299 -60 270 81 RC
YINRC014 401720 7350403 310 -60 270 33 RC
YINRC015 401617 7350104 300 -60 270 81 RC
YINRC016 401658 7350104 300 -60 270 81 RC
YINRC017 401697 7350103 300 -60 270 81 RC
YINRC018 401737 7350104 300 -60 270 81 RC
YINRC019 401774 7350104 300 -60 270 84 RC
YINRC020 401816 7350102 300 -60 270 81 RC
YINRC021 401855 7350103 298 -60 270 111 RC
YINRC022 401895 7350108 298 -60 270 153 RC
YINRC023 401720 7350507 301 -60 270 39 RC
YINRC024 401759 7350505 300 -60 270 87 RC
YINRC025 401802 7350498 308 -60 270 123 RC
YINRC026 401754 7350705 311 -60 270 51 RC
YINRC027 401794 7350703 311 -60 270 87 RC
YINRC028 401832 7350703 308 -60 270 123 RC
YINRC029 401750 7350900 312 -60 270 81 RC
YINRC030 401790 7350901 312 -60 270 129 RC
YINRC031 401829 7350900 312 -60 270 177 RC
YINRC032 401751 7351082 305 -60 310 45 RC
YINRC033 401786 7351058 305 -60 310 87 RC
YINRC034 401820 7351035 306 -60 310 129 RC
YINRC035 401895 7351225 302 -60 270 39 RC
YINRC036 401935 7351224 303 -60 270 81 RC
YINRC037 401976 7351225 303 -60 270 123 RC
YINRC038 402077 7351238 305 -60 270 33 RC
YINRC039 402120 7351240 305 -60 270 69 RC
YINRC040 401995 7351425 303 -60 270 39 RC
YINRC041 402036 7351426 303 -60 270 87 RC
YINRC042 402074 7351414 302 -60 270 123 RC
YINRC043 402038 7351578 304 -60 270 45 RC
YINRC044 402076 7351579 304 -60 270 87 RC
YINRC045 402116 7351582 303 -60 270 123 RC
YINRC046 402086 7351727 304 -60 270 45 RC
YINRC047 402127 7351725 304 -60 270 81 RC
YINRC048 402166 7351733 305 -60 270 129 RC
YINRC049 402101 7351926 304 -60 270 39 RC
YINRC050 402143 7351926 304 -60 270 87 RC
YINRC051 402182 7351929 304 -60 270 129 RC

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Hole ID Easting Northing RL Dip Azimuth EOH **Type ** Prospect
YINRC052 401863 7349988 296 -60 270 123 RC Yin
YINRC053 401903 7350002 299 -60 270 153 RC
YINRC054 401944 7350001 298 -60 270 93 RC
YINRC055 401757 7350401 298 -60 270 63 RC
YINRC056 401796 7350404 298 -60 270 93 RC
YINRC057 401745 7350602 298 -60 270 69 RC
YINRC058 401779 7350601 298 -60 270 105 RC
YINRC059 401818 7350602 298 -60 270 141 RC
YINRC060 401764 7350803 298 -60 270 81 RC
YINRC061 401806 7350803 298 -60 270 75 RC
YINRC062 401846 7350803 298 -60 270 135 RC
YINRC063 401710 7351001 298 -60 270 57 RC
YINRC064 401747 7351001 298 -60 270 117 RC
YINRC065 401792 7351003 298 -60 270 189 RC
YINRC066 401825 7349254 298 -60 270 57 RC
YINRC067 401866 7349252 298 -60 270 117 RC
YINRC068 401902 7349412 298 -60 270 33 RC
YINRC069 401943 7349414 298 -60 270 93 RC
YINRC070 402590 7349481 298 -60 210 51 RC
YINRC071 402612 7349517 298 -60 210 129 RC
YINRC072 402741 7349370 298 -60 210 69 RC
YINRC073 402765 7349402 298 -60 210 99 RC
YINRC074 401830 7351125 298 -60 270 51 RC
YINRC075 401865 7351126 307 -60 270 81 RC
YINRC076 401905 7351131 302 -60 270 105 RC
YINRC077 401944 7351326 306 -60 270 33 RC
YINRC078 401984 7351329 299 -60 270 87 RC
YINRC079 402023 7351326 294 -60 270 105 RC
YINRC080 402023 7351526 303 -60 270 60 RC
YINRC081 402067 7351525 303 -60 270 105 RC
YINRC082 402105 7351529 303 -60 270 135 RC
YINRC083 401618 7350169 302 -60 330 57 RC
YINRC084 401574 7350148 300 -60 340 99 RC
YINRC085 401700 7350249 303 -60 270 45 RC
YINRC086 401737 7350248 302 -60 270 69 RC
YINRC087 401777 7350248 301 -60 270 93 RC
YINRC088 401815 7350250 301 -60 270 129 RC
YINRCWB1 401754 7350253 302 -90 0 80 RC
YINRC089 401855 7350250 300 -60 270 159 RC
YINRC090 401894 7350252 300 -60 270 207 RC
YINRC091 401895 7350203 300 -60 270 219 RC
YINRC092 401648 7350149 300 -60 270 75 RC
YINRC093 401694 7350149 300 -60 270 93 RC
YINRC094 401735 7350152 300 -60 270 141 RC
YINRC095 401777 7350151 300 -60 270 183 RC
YINRC096 401814 7350151 300 -60 270 183 RC
YINRC097 401853 7350153 300 -60 270 183 RC
YINRC098 401895 7350301 300 -60 270 207 RC
YINRC099 401841 7350406 300 -60 270 135 RC
YINRC100 401742 7350002 300 -60 270 75 RC
YINRC101 401781 7350004 300 -60 270 81 RC
YINRC102 401824 7350003 300 -60 270 117 RC

Dreadnought Resources Limited

www.dreadnoughtresources.com.au [email protected]

Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Hole ID Easting Northing RL Dip Azimuth EOH **Type ** Prospect
YINRC103 401889 7350150 300 -60 270 219 RC Yin
YINRC104 401863 7349334 300 -60 270 63 RC
YINRC105 401901 7349332 300 -60 270 105 RC
YINRC106 401873 7349541 300 -60 270 117 RC
YINRC107 401823 7349641 300 -60 270 111 RC
YINRC108 401912 7349541 301 -60 270 183 RC
YINRC109 401861 7349644 299 -60 270 177 RC
YINRC110 401800 7349738 297 -60 270 63 RC
YINRC111 401842 7349744 297 -60 270 117 RC
YINRC112 402060 7351624 304 -60 270 39 RC
YINRC113 402099 7351626 304 -60 270 81 RC
YINRC114 402139 7351623 302 -60 270 123 RC
YINRC115 402105 7351832 304 -60 270 39 RC
YINRC116 402139 7351827 304 -60 270 93 RC
YINRC117 402180 7351825 304 -60 270 165 RC
YINRC118 402071 7352024 304 -60 270 45 RC
YINRC119 402113 7352037 304 -60 270 99 RC
YINRC120 402151 7352029 304 -60 270 129 RC

JORC Code, 2012 Edition – Table 1 report template

Section 1 Sampling Techniques and Data

JORC TABLE 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary
Sampling
techniques		 •
Nature and quality of sampling (e.g. cut
channels,
random
chips,
or
specific
specialised industry standard measurement
tools appropriate to the minerals under
investigation, such as down hole gamma
sondes, or handheld XRF instruments, etc.).
These examples should not be taken as
limiting the broad meaning of sampling.
•
Include reference to measures taken to
ensure sample representivity and the
appropriate calibration of any measurement
tools or systems used.
•
Aspects
of
the
determination
of
mineralisation that are Material to the Public
Report.
•
In cases where ‘industry standard’ work has
been done this would be relatively simple
(e.g. ‘reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was
pulverised to produce a 30 g charge for fire
assay’). In other cases more explanation
may be required, such as where there is
coarse gold that has inherent sampling
problems.
Unusual
commodities
or
mineralisation
types
(e.g.
submarine
nodules) may warrant disclosure of detailed		 Reverse Circulation (RC) drilling was undertaken to
produce samples for assaying.
Preliminary pXRF analysis
Preliminary assays were obtained using an
Olympus Vanta M Series pXRF analyser. The
pXRF was placed on the reject sample piles from
the rigs Metzke cone splitter.
One 3 beam, 30 second measurement was
completed for each drill metre sample.
The pXRF instrument is calibrated and serviced
annually or more frequently as required with daily
instrument
calibration
checks
completed.
Additionally, silica blanks and OREAS standards,
appropriate to the style of mineralisation are
routinely analysed to confirm performance. This
procedure is in line with normal industry practice
and deemed fit for purpose for preliminary analysis
in first pass exploration drilling.
This report relates to exploration results of a
preliminary nature. pXRF analysis is a preliminary
technique which will be superseded by laboratory
analysis when it becomes available.
Laboratory Analysis

Dreadnought Resources Limited

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[email protected]

Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Criteria JORC Code explanation Commentary
information. Two sampling techniques were utilised for this
program, 1m metre splits directly from the rig
sampling system for each metre and 3m composite
sampling from spoil piles. Samples submitted to the
laboratory were determined by the site geologist.
1m Splits
From every metre drilled a 2-3kg sample (split) was
sub-sampled into a calico bag via a Metzke cone
splitter from each metre of drilling.
3m Composites
All remaining spoil from the sampling system was
collected in buckets from the sampling system and
neatly deposited in rows adjacent to the rig. An
aluminium scoop was used to then sub-sample
each spoil pile to create a 2-3kg 3m composite
sample in a calico bag.
A pXRF is used on site to determine mineralised
samples. Mineralised intervals have the 1m split
collected, while unmineralised samples have 3m
composites collected..
All samples are submitted to ALS Laboratories in
Perth for determination of Rare Earth Oxides by
Lithium Borate Fusion XRF (ALS Method ME-
XRF30).
All samples are also submitted for 48 multi-
elements via 4 acid digestion with MS/ICP finish
(ALS Code ME-MS61) to assist with lithological
interpretation.
Drilling
techniques		 •
Drill type (e.g. core, reverse circulation,
open-hole hammer, rotary air blast, auger,
Bangka, sonic, etc.) and details (e.g. core
diameter, triple or standard tube, depth of
diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by
what method, etc.).		 RC Drilling
Ausdrill undertook the program utilising a Drill Rigs
Australia truck mounted Schramm T685WS drill rig
with additional air from an auxiliary compressor and
booster. Bit size was 5¾”.
Drill sample
recovery		 •
Method of recording and assessing core and
chip
sample
recoveries
and
results
assessed.
•
Measures
taken
to
maximise
sample
recovery and ensure representative nature
of the samples.
•
Whether a relationship exists between
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse material.		 RC Drilling
Drilling was undertaken using a ‘best practice’
approach to achieve maximum sample recovery
and quality through the mineralised zones.
Best practice sampling procedure included: suitable
usage of dust suppression, suitable shroud, lifting
off bottom between each metre, cleaning of
sampling equipment, ensuring a dry sample and
suitable supervision by the supervising geologist to
ensure good sample quality.
At this stage, no known bias occurs between
sample recovery and grade.
Logging •
Whether core and chip samples have been
geologically and geotechnically logged to a
level of detail to support appropriate Mineral
Resource estimation, mining studies and
metallurgical studies.
•
Whether logging is qualitative or quantitative		 RC chips were logged by a qualified geologist with
sufficient experience in this geological terrane and
relevant styles of mineralisation using an industry
standard logging system which could eventually be
utilised within a Mineral Resource Estimation.
Lithology,
mineralisation,
alteration,
veining,

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Criteria JORC Code explanation Commentary
in nature. Core (or costean, channel, etc.)
photography.
•
The total length and percentage of the
relevant intersections logged.		 weathering and structure were all recorded digitally.
Chips were washed each metre and stored in chip
trays for preservation and future reference.
RC pulp material is also analysed on the rig by
pXRF, scintillometer and magnetic susceptibility
meter to assist with logging and the identification of
mineralisation.
Logging is qualitative, quantitative or semi-
quantitative in nature.
Sub-sampling
techniques and
sample
preparation		 •
If core, whether cut or sawn and whether
quarter, half or all core taken.
•
If non-core, whether riffled, tube sampled,
rotary split, etc. and whether sampled wet or
dry.
•
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
•
Quality control procedures adopted for all
sub-sampling
stages
to
maximise
representivity of samples.
•
Measures taken to ensure that the sampling
is representative of the in-situ material
collected, including for instance results for
field duplicate/second-half sampling.
•
Whether sample sizes are appropriate to the
grain size of the material being sampled.		 Preliminary pXRF analysis
pXRF
analysis
of
pulverised
and
partially
homogenised reject RC sample piles is fit for
purpose as a preliminary exploration technique.
pXRF is a spot reading on raw (unprocessed) RC
sample piles with variable grain sizes and states of
homogenisation. High grade results were repeated
at multiple locations to confirm repeatability. The
competent person considers this acceptable within
the context of reporting preliminary exploration
results.
RC Drilling
From every metre drilled, a 2-3kg sample (split) was
sub-sampled into a calico bag via a Metzke cone
splitter.
QAQC in the form of duplicates and CRM’s
(OREAS Standards) were inserted through the ore
zones at a rate of 1:50 samples. Additionally, within
mineralised zones, a duplicate sample was taken
and a blank inserted directly after.
2-3kg samples are submitted to ALS laboratories
(Perth), oven dried to 105°C and pulverised to 85%
passing 75um to produce a 0.66g charge for
determination of Rare Earth Oxides by Lithium
Borate Fusion XRF (ALS Method ME-XRF30) and
to produce a 0.25g charge for determination of 48
multi-elements via 4 acid digestion with MS/ICP
finish (ALS Code ME-MS61).
Standard laboratory QAQC is undertaken and
monitored.
Quality of assay
data and
laboratory tests		 •
The nature, quality and appropriateness of
the assaying and laboratory procedures
used
and
whether
the
technique
is
considered partial or total.
•
For
geophysical
tools,
spectrometers,
handheld
XRF
instruments,
etc.,
the
parameters used in determining the analysis
including instrument make and model,
reading times, calibrations factors applied
and their derivation, etc.
•
Nature of quality control procedures adopted
(e.g. standards, blanks, duplicates, external
laboratory checks) and whether acceptable
levels of accuracy (i.e. lack of bias) and
precision have been established.		 Preliminary pXRF analysis
Olympus Vanta M Series pXRF analyser is used to
provide preliminary quantitative measurement of
mineralisation. A 3-beam, 30 second reading time
was used with a single reading on unprepared raw
RC chip sample piles. High grade samples were
repeated to confirm repeatability of grade.
Calibration checks of the pXRF are undertaken
daily, a silica blank and certified REE standard
OREAS 461 is routinely analysed to monitor pXRF
performance.
Laboratory Analysis
Lithium borate fusion is considered a total digest
and Method ME-XRF30 is appropriate for REE

www.dreadnoughtresources.com.au

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

[email protected]

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Criteria JORC Code explanation Commentary
determination.
Standard laboratory QAQC is undertaken and
monitored by the laboratory and by the company
upon assay result receival.
Verification of
sampling and
assaying		 •
The verification of significant intersections by
either independent or alternative company
personnel.
•
The use of twinned holes.
•
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
•
Discuss any adjustment to assay data.		 Preliminary pXRF analysis
Analytical data was collected directly by the
Olympus Vanta M Series pXRF analyser and
downloaded by digital transfer to an excel
spreadsheet with inbuilt QAQC. All data was
checked by the responsible geologist and filed on
the company server.
Logging and Sampling
Logging and sampling were recorded directly into a
digital logging system, verified and eventually
stored in an offsite database.
Significant intersections are inspected by senior
company personnel.
No twinned holes have been drilled at this time.
No adjustments to any assay data have been
undertaken.
Location of data
points		 •
Accuracy and quality of surveys used to
locate drill holes (collar and down-hole
surveys), trenches, mine workings and other
locations
used
in
Mineral
Resource
estimation.
•
Specification of the grid system used.
•
Quality and adequacy of topographic control.		 Collar position was recorded using a Emlid Reach
RS2 RTK GPS system (+/- 0.2m x/y, +/-0.5m z).
GDA94 Z50s is the grid format for all xyz data
reported.
Azimuth and dip of the drill hole was recorded after
the completion of the hole using a Reflex Sprint IQ
Gyro. A reading was undertaken every 30thmetre
with an accuracy of +/- 1° azimuth and +/-0.3° dip.
Data spacing and
distribution		 •
Data spacing for reporting of Exploration
Results.
•
Whether the data spacing and distribution is
sufficient to
establish the
degree
of
geological and grade continuity appropriate
for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications
applied.
•
Whether sample compositing has been
applied.		 See drill table for hole positions.
Data spacing at this stage is not suitable for Mineral
Resource Estimation.
Orientation of
data in relation to
geological
structure		 •
Whether
the
orientation
of
sampling
achieves unbiased sampling of possible
structures and the extent to which this is
known, considering the deposit type.
•
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to have
introduced a sampling bias, this should be
assessed and reported if material.		 Drilling was undertaken at a near perpendicular
angle to the interpreted strike and dip of the
ironstone outcrops and modelled magnetic data.
No sample bias is known at this time.
Sample security •
The measures taken to ensure sample
security.		 All geochemical samples were collected, bagged,
and sealed by Dreadnought staff and delivered to
Exmouth Haulage in Exmouth.
Samples were delivered directly to ALS
Laboratories Perth byExmouth Haulage out of

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Criteria JORC Code explanation Commentary
Exmouth.
Audits or reviews •
The results of any audits or reviews of
sampling techniques and data.		 The program is continuously reviewed by senior
company personnel.

Section 2 Reporting of Exploration Results

(Criteria in this section apply to all succeeding sections.)

Criteria JORC Code explanation Commentary
Mineral tenement
and land tenure
status		 •
Type, reference name/number, location
and ownership including agreements or
material issues with third parties such as
joint ventures, partnerships, overriding
royalties, native title interests, historical
sites, wilderness or national park and
environmental settings.
•
The security of the tenure held at the time
of reporting along with any known
impediments to obtaining a licence to
operate in the area.		 •
The Mangaroon Project consists of 16
granted Exploration License (E08/3178,
E08/3274, E08/3439, E09/2359, E09/2370,
E09/2384, E09/2405, E09/2433, E09/2448,
E09/2449, E09/2450, E09/2467E09/2473,
E09/2478, E09/2531, E09/2535) and 3
pending Exploration Licenses (E08/3275,
E09/2616, E09/2620)
•
All
tenements
are
100%
owned
by
Dreadnought Resources.
•
E08/3178, E08/3274, E09/2384, E09/2433,
E09/2473 are subject to an option agreement
with First Quantum Minerals over the base
metal rights.
•
E08/3178,
E09/2370,
E09/2384
and
E09/2433 are subject to a 2% Gross Revenue
Royalty held by Beau Resources.
•
E08/3274, E08/3275, E09/2433, E09/2448,
E09/2449, E09/2450 are subject to a 1%
Gross Revenue Royalty held by Beau
Resources.
•
E09/2359 is subject to a 1% Gross Revenue
Royalty held by Prager Pty Ltd.
•
The Mangaroon Project covers 4 Native Title
Determinations
including
the
Budina
(WAD131/2004), Thudgari (WAD6212/1998),
Gnulli
Gnulli
(WAD22/2019)
and
the
Combined Thiin-Mah, Warriyangka, Tharrkari
and Jiwarli (WAD464/2016).
•
The Mangaroon Project is located over
Lyndon,
Mangaroon,
Gifford
Creek,
Maroonah, Minnie Creek, Towera and Uaroo
Stations.
Exploration done by
other parties		 •
Acknowledgment
and
appraisal
of
exploration by other parties.		 Historical exploration of a sufficiently high
standard was carried out by a few parties which
have been outlined and detailed in this ASX
announcement including:
Regional
Resources
1986-1988s:
WAMEX
Reports A23715, 23713
Peter Cullen 1986: WAMEX Report A36494
Carpentaria Exploration Company 1980: WAMEX
Report A9332

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Criteria JORC Code explanation Commentary
Newmont 1991: WAMEX Report A32886
Hallmark Gold 1996: WAMEX Report A49576
Rodney Drage 2011: WAMEX Report A94155
Sandfire Resources 2005-2012: WAMEX Report
94826
Geology •
Deposit type, geological setting and style
of mineralisation.		 The Mangaroon Project is located within
Mangaroon Zone of the Gascoyne Province.
The Mangaroon Project is prospective for
orogenic
gold,
magmatic
Ni-Cu-PGE
mineralisation and carbonatite hosted REEs.
Drill hole information •
A summary of all information material to
the understanding of the exploration
results including a tabulation of the
following information for all Material drill
holes:
o
easting and northing of the drill hole
collar
o
elevation or RL (Reduced Level –
elevation above sea level in metres)
of the drill hole collar
o
dip and azimuth of the hole
o
down hole length and interception
depth
o
hole length.
•
If the exclusion of this information is
justified on the basis that the information
is not Material and this exclusion does
not detract from the understanding of the
report, the Competent Person should
clearly explain why this is the case.		 An overview of the drilling program is given within
the text and tables within this document.
Data aggregation
methods		 •
In
reporting
Exploration
Results,
weighting
averaging
techniques,
maximum
and/or
minimum
grade
truncations (e.g. cutting of high grades)
and cut-off grades are usually Material
and should be stated.
•
Where aggregate intercepts incorporate
short lengths of high-grade results and
longer lengths of low-grade results, the
procedure used for such aggregation
should be stated and some typical
examples of such aggregations should
be shown in detail.
•
The assumptions used for any reporting
of metal equivalent values should be
clearly stated.		 All results with a preliminary pXRF value over
0.2% TREO have been reported.
Significant intercepts are length weight averaged
for all samples with a preliminary pXRF value
>0.2% TREO with up to 3m of internal dilution
(<0.2% TREO).
No metal equivalents are reported.
Relationship
between
mineralisation widths
and intercept lengths		 •
These
relationships
are
particularly
important in the reporting of Exploration
Results.
•
If the geometry of the mineralisation with
respect to the drill hole angle is known, its
nature should be reported.
•
If it is not known and only the down hole
lengths are reported, there should be a
clear statement to this effect (e.g. ‘down
hole length, true width not known’).		 Drilling is undertaken close to perpendicular to
the dip and strike of the mineralisation.
The
true
thickness
of
the
mineralisation
intersected in drill holes cannot currently be
calculated.
Diagrams •
Appropriate maps and sections (with		 Refer to figures within this report.

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Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

+61 (08) 9473 8345

==> picture [149 x 85] intentionally omitted <==

Criteria JORC Code explanation Commentary
scales) and tabulations of intercepts
should be included for any significant
discovery being reported These should
include, but not be limited to a plan view
of
drill
hole
collar
locations
and
appropriate sectional views.
Balanced reporting •
Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.		 The accompanying document is a balanced
report with a suitable cautionary note.
Other substantive
exploration data		 •
Other exploration data, if meaningful and
material, should be reported including
(but
not
limited
to):
geological
observations; geophysical survey results;
geochemical
survey
results;
bulk
samples – size and method of treatment;
metallurgical test results; bulk density,
groundwater, geotechnical and rock
characteristics; potential deleterious or
contaminating substances.		 Suitable commentary of the geology encountered
are given within the text of this document.
Further work •
The nature and scale of planned further
work (e.g. tests for lateral extensions or
depth extensions or large-scale step-out
drilling).
•
Diagrams clearly highlighting the areas of
possible extensions, including the main
geological interpretations and future
drilling areas, provided this information is
not commercially sensitive.		 Preliminary pXRF results to be confirmed by
laboratory analysis as soon as possible.
Additional RC drilling
Diamond Drilling
Metallurgical test work
Resource Modelling

Dreadnought Resources Limited Unit 1, 4 Burgay Court, Osborne Park WA 6017 PO Box 646, West Perth WA 6872

www.dreadnoughtresources.com.au

[email protected]

+61 (08) 9473 8345

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