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DREADNOUGHT RESOURCES LTD — Capital/Financing Update 2021
Dec 7, 2021
64785_rns_2021-12-07_7744918f-017b-4b7a-95b3-f93db5169c74.pdf
Capital/Financing Update
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8 December 2021
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TARRAJI-YAMPI PROJECT
FURTHER HIGH-GRADE Cu-Ag-Au-Co-Zn FROM ORION DISCOVERY
HIGHLIGHTS
-
High Grade Cu-Ag-Au-Co results from multiple holes at Orion with significant intercepts including:
-
KMRC047: 12m @ 3.0% Cu, 21.4g/t Ag, 1.7g/t Au, 0.02% Co from 1m Including: 5m @ 5.9% Cu, 44.9 g/t Ag, 3.7g/t Au, 0.01% Co from 1m
-
KMRC039: 20m @ 1.4% Cu, 13.4g/t Ag, 0.5g/t Au, 0.03% Co from 3m Including: 3m @ 7.6% Cu, 116g/t Ag, 2.2 g/t Au, 0.14% Co from 18m
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KMRC048: 11m @ 2.2% Cu, 31.6g/t Ag, 1.1g/t Au, 0.07% Co 2.2% Zn from 135m Including: 3m @ 2.9% Cu, 46.5g/t Ag, 0.9g/t Au, 0.05% Co, 4.3% Zn from 141m
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KMRC037: 14m @ 0.4% Cu, 31.8g/t Ag, 3.7g/t Au, 0.02% Co from 29m Including: 4m @ 0.3% Cu, 82.9g/t Ag, 10.2g/t Au, 0.04% Co from 37m
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KMRC035: 13m @ 1.0% Cu, 22.4 g/t Ag, 0.6g/t Au, 0.04% Co from 29m Including: 5m @ 2.1% Cu, 50.2g/t Ag, 1.5g/t Au, 0.09% Co from 36m
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Mineralisation at Orion commences from a depth of ~1m and has been confirmed to ~150m down dip and along strike for ~240m and remains open at depth and along strike.
-
Planning is underway for the 2022 field season to deliver Resources at Orion and Grant’s Find and to undertake exploration at numerous project scale targets.
Dreadnought Resources Limited (“ Dreadnought ”) is pleased to announce assay results from all holes drilled
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at Orion and other targets in the Tarraji-Yampi Project located in the West Kimberley region of Western Australia.
Drilling results have confirmed Orion as a high-grade copper (up to 12.5%), silver (up to 192.0g/t), gold (up to 34.2g/t), cobalt (up to 1.66%) and zinc (up to 4.3%) massive sulphide discovery with mineralisation commencing from just 1m under cover, extending to at least 240m along strike and 150m down dip. Orion remains open along strike and at depth. Geophysical modelling indicates the mineralised body could extend to at least 500m depth.
Dreadnought’s Managing Director, Dean Tuck, commented: “Orion continues to deliver high-grade Cu-Ag-Au-Co-Zn intercepts and indications to date are that we have only begun to scratch the surface. Furthermore, interpretation of the mineralisation system appears to be similar in character to the magmatic-hydrothermal deposits in the Mt Isa region of Queensland. This will form a working hypothesis for future targeting and interpretation of results. Furthermore, we have now proven that low-impact, shallow auger drilling can be deployed to screen targets prior to RC drilling. This will also provide an invaluable tool to assist in unlocking this developing mineral province.”
Figure 1: Dreadnought geologists and the Ausdrill RC drill rig crew with massive sulphide mineralisation on hole KMRC022. From L to R, Nick, Liam, Jesse, Luke, Matt and Rodney.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Figure 2: Image highlighting significant drill intercept and the location of drilling at Orion in relation to projected mineralisation and interpreted structures.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected] +61 (0) 428 824 343
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Program at Orion Cu-Ag-Au-Co-Zn (E04/2315: 80%)
Orion is a Cu-Ag-Au-Co-Zn massive sulphide system with multiple lodes situated along a major structure within a 4km long Ruins Dolerite and sediment package. The mineralisation is obscured by 1-5m of cover and has a welldeveloped oxide-supergene profile up to 30m in depth.
During the 2021 field season, 29 RC holes (3,240m) were drilled at Orion over two programs. The first program included KMRC017 which intersected 12m @ 1.6% Cu, 31.7g/t Ag and 0.5g/t Au from 45m from an interval of massive to semi-massive sulphides within the Ruins Dolerite. Subsequent to drilling KMRC017, downhole and fixed loop EM survey programs modelled the anomaly at Orion to extend >400m of strike and to ~500m in depth (being the limit of the EM survey’s effectiveness).
During the second program, 27 RC holes (2,904m) were drilled at Orion to test the anomaly’s strike length and depth extent, as well as to test for nearby supergene mineralisation. A total of 18 holes intersected massive/semi-massive sulphides, oxide and or supergene mineralisation with significant mineralised intercepts including ( *Previously reported ):
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KMRC022*: 16m @ 2.2% Cu, 38.7g/t Ag, 6.6g/t Au, 0.40% Co from 77m Including: 2m @ <0.1% Cu, 4.8 g/t Ag, 27.6g/t Au, 1.50% Co from 77m And: 7m @ 4.7% Cu, 83.3g/t Ag, 4.9g/t Au, 0.20% Co from 82m
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KMRC039: 20m @ 1.4% Cu, 13.4g/t Ag, 0.5g/t Au, 0.03% Co from 3m Including: 3m @ 7.6% Cu, 116g/t Ag, 2.2 g/t Au, 0.14% Co from 18m
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KMRC047: 12m @ 3.0% Cu, 21.4g/t Ag, 1.7g/t Au, 0.02% Co from 1m Including: 5m @ 5.9% Cu, 44.9 g/t Ag, 3.7g/t Au, 0.01% Co from 1m
-
KMRC048: 11m @ 2.2% Cu, 31.6g/t Ag, 1.1g/t Au, 0.07% Co, 2.2% Zn from 135m Including: 3m @ 2.9% Cu, 46.5g/t Ag, 0.9g/t Au, 0.05% Co, 4.3% Zn from 141m
Mineralisation has now been confirmed over ~240m of strike from within ~1m of surface to ~150m down dip and remains open along strike and at depth.
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Figure 3: Long section through Orion showing the location of recent drilling results in relation to oxide, supergene and fresh massive sulphide mineralisation. Mineralisation remains open at depth and to the north.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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The massive sulphide mineralisation at Orion consists of pyrrhotite-pyrite-chalcopyrite-cobaltite and zones into more pyrrhotite-pyrite-chalcopyrite-sphalerite and galena rich compositions to the north and occasionally along the margins of the massive sulphide intervals. This zonation is likely due to a temperature gradient and/or multiple overprinted pulses within the mineral system.
The massive sulphide mineralisation occurs in a sequence of graphitic shales and siltstones and fine to mediumgrained foliated dolerite and mafic schists. The mineralised lodes are hosted within a structure approximately conformable with the stratigraphy and dip from 55-70 degrees to the east, range in thickness from 1-20m and generally increase in thickness and tenor down dip. The results align with stronger modelled EM and magnetic responses at depth. Several NW trending faults offset the lode and may offset, but not necessarily close off, the mineralisation to the south.
Oxide and supergene mineralisation is developed in the weathered portions of the lode down to ~30m depth and is marked by iron rich gossans and secondary copper carbonates in the oxide portions and chalcocite in the supergene zone.
A palaeochannel ranging from 1-5m thick covers the shallowest portions of the mineralisation making it blind at surface.
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Figure 4: 3D view (looking north) of modelled magnetic body (green blob), FLEM plate (blue plate) and DHEM plates (red) and their associated drill holes showing that only the top of the system has been tested to date at Orion. These surveys indicate that the mineralisation could extend to at least 500m depth.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Figure 5: Cross section showing mineralised intercepts and assay results through line 5 showing oxide, supergene and massive sulphide mineralisation. DHEM and FLEM modelling shows the EM plates continue at depth.
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Figure 6: Cross section showing intercepts from line 4, including KMRC017. Magnetic and EM modelling indicate that mineralisation remains open to a depth of at least 500m.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Program at Orion South Cu-Ag-Au-Co (E04/2315: 80%)
Following the massive sulphide intercepts at Orion, which is associated with a strongly magnetic feature along a major structure within a Ruins Dolerite and sediment package, three similar targets were tested with 3 RC holes (KMRC042-44, 357m).
Multiple zones of copper and cobalt minerals were intersected within sheared, sulphide altered mafic rocks.
In particular, KMRC044 intersected a thick sediment package with Cu-Co mineralisation including 13m @ 0.06% Co from 55m, 4m @ 0.1% Cu and 0.1% Co from 85m and 1m @ 0.34% Co from 116m and KMRC018 which intersected 1m @2.6% Zn, 4.5 g/t Ag and 0.1% Pb from 90m . These results could represent alteration adjacent to high-grade massive sulphides as seen at Orion. Accordingly, additional lodes of massive sulphide mineralisation may exist within the broader Orion area.
Geophysical data is being reviewed and remodelled with new downhole information. A systematic auger program will also be undertaken over these and other anomalies and lithostructural targets for testing in 2022.
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Figure 7: Image highlighting the significant intercepts from KMRC044 and KMRC018 which are located ~2.4kms and ~800m SSW of the Orion Discovery.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Program at Fuso and Paul’s Find Cu-Au-Ag-Co (E04/2315: 80%)
Fuso is a Cu-Au-Ag-Co prospect defined by an intense magnetic high surrounding the northern extent of a strong density anomaly. The ~500m x 400m ovoid gravity feature is cupped on the northern side by a ~1,700m x 700m magnetic anomaly.
During the first program, 5 RC holes for 1,125m were drilled into Fuso. The gravity anomaly was tested and determined to be due to a medium to coarse grained mafic intrusion. However, multiple zones of chloritesulphide alteration with locally significant quartz-sulphide veining were intersected and the source of the magnetic anomaly remained unexplained. Encouragingly, 1 hole (KMRC012) intersected 1m @ 2.1% Cu, 0.1 g/t Au, 3.9 g/t Ag and 0.2% Co from 90m . Given the chemical similarity to Orion and because no magnetic lithologies were intersected downhole, this intercept was interpreted as a near miss.
Accordingly, 4 additional holes (834m) were drilled at Fuso to test the two main magnetic anomalies and a third smaller anomaly to the northeast. KMRC028 and KMRC029 tested the main magnetic anomalies and returned no significant mineralisation.
KMRC030 and KMRC031 tested the NE magnetic anomaly with KMRC031 intersecting Cu-Co mineralisation within chlorite and silica altered black shales with significant intercepts including KMRC032: 12m @ 0.2% Cu, 0.2 g/t Ag and 0.06% Co from 104m. Again, this result could represent alteration adjacent to high-grade massive sulphides as seen at Orion.
Paul’s Find is a strongly remnant magnetic feature which was tested with a single RC drill hole for 249m. KMRC013 returned 3m @ 1.9g/t Au from 36m from a 3m composite sample, confirming mineralised quartzsulphide veins within the strongly altered mafic body.
At both Fuso and Paul’s Find, downhole geophysical surveys were undertaken and confirmed strong remanence in the magnetics. Geophysical data is being reviewed and remodelled with the new downhole information. A systematic auger program will be undertaken over anomalies and lithostructural targets in 2022 to prioritise targets for re-testing.
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Figure 8: Image highlighting significant intercepts and the location of recent drilling in relation to the magnetic anomalies at Fuso CuAu-Ag-Co prospect. The significant intercept at KMRC032 is part of a broader 12m @ 0.2% Cu 0.02 g/t Ag and 0.02% Co from 104m
www.dreadnoughtresources.com.au [email protected]
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
+61 (0) 428 824 343
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Program at Chianti-Rufina Cu-Zn-Ag (E04/2508: 100%)
Chianti was originally defined and drilled by Australian Consolidated Minerals in 1972. An airborne VTEM survey flown in 2015 highlighted a conductor beneath the 1972 drilling. Since acquiring the project, Dreadnought has carried out a FLEM survey covering a portion of the VTEM conductor which contained outcropping gossans and historical drilling. The FLEM survey identified two strong EM plates which were then drilled in late 2019 and successfully intersected highly magnetic massive sulphide mineralisation (refer ASX 2 December 2019).
A total of 7 RC holes were drilled for 1,264m into 7 FLEM plates with associated outcropping gossans, magnetic anomalies and/or soil anomalies within the interpreted prospective VMS horizon (Figure 9).
KMRC001, drilled into Chianti intersected 2m of massive sulphide dominated by pyrrhotite and pyrite with chalcopyrite, sphalerite and minor galena with the significant intercept including 3m @ 1.5% Zn, 0.6% Cu, 0.5% Pb, 19.1 g/t Ag from 90m.
Barolo, Amarone and Rufina intersected sulphidic mud horizons with minor base metal sulphides indicative of a
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prospective mineralised exhalative horizon.
Downhole geophysical surveys were undertaken confirming strong remanence in the magnetics. Geophysical data is being reviewed and remodelled with the new down hole information and a systematic auger program will be undertaken over anomalies and lithostructural targets in 2022 to prioritise targets for re-testing.
Figure 9: Plan view of ChiantiRufina showing the location of recently drilled RC holes in relation to EM plates, soil anomalies and rock chip values from outcropping gossans, over geology and magnetics.
Program at Texas (E04/2315: 80%)
Texas is a magmatic Ni-Cu-PGE target hosted within the Ruins Dolerite and defined by coincident EM and magnetic anomalies. Two diamond drill holes for 310.4m were drilled at Texas targeting a modelled 550m x 280m EM plate with a conductance of 1,300 siemens.
Given the abundance of quartz-sulphide veining and heavily altered porphyry intrusions, Texas could also be a part of the potentially large Cu-Au-Ag system seen at Orion, Grant’s Find, Fuso and Rough Triangle.
Diamond core is still being processed by the laboratory with assays and DHEM expected in January 2022.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Next Steps at Tarraji-Yampi – 2022 Field Season
2021 has delivered the first ever drilling under cover at Tarraji-Yampi resulting in a massive sulphide discovery at Orion and a significant increase in knowledge about the exploration environment and the nature of the mineralisation present. While a major objective for 2022 remains delivering a Resource at both Orion and Grant’s Find, the realisation that the depth of cover across the project is consistently 1-5m allows for a new tool to be deployed at Tarraji-Yampi across new and existing targets – shallow auger drilling. To date, exploration has been predominantly driven by geophysics in the absence of surface or near surface geochemistry, due to the black soil plain hindering surface geochemical techniques. The ability to deploy low impact auger drilling to screen targets will significantly enhance the effectiveness and efficiency of target testing in 2022.
Evidence to date indicates that the mineralisation at Tarraji-Yampi is all related as a wider magmatichydrothermal system similar to the Mt Isa region. This analogue will continue to play a significant role in the designing and interpretation of geochemical and geophysical programs.
Planned activities at Tarraji-Yampi include:
December 2021 – February 2022: Lithostructural review and targeting of a recently acquired airborne magnetic – radiometric survey
December 2021 – February 2022: Geophysical review and re-modelling
March/April 2022: Heritage and environmental surveys over new targets
May-July 2022: Auger and geophysical surveys over new targets
June-July 2022: Diamond drilling of Rough Triangle Cu-Ag-Bi-Sb
June-September 2022: Resource drilling (diamond and RC) at Orion and Grant’s Find
September-December 2022: Metallurgical test work at Orion and Grant’s Find
August-October 2022: Exploration RC drilling at high-ranking targets (after auger sampling and geophysical surveys)
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Figure 10: RC chips from KMRC047 Figure 11: RC chips from KMRC039 4-5m showing oxide mineralisation 18-19m showing supergene comprised of gossanous iron oxides mineralisation comprised of (red-brown) and secondary copper chalcocite (dark grey) mixed with carbonates (green). This metre pyrite, chalcopyrite and gossanous assayed 3.25% Cu, 19.6g/t Ag, 1.9 iron oxides. This metre assayed g/t Au. 12.5% Cu, 129g/t Ag, 1.9 g/t Au, 0.05% Co.
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Figure 12: RC chips from KMRC022 84-85m showing massive sulphide mineralisation comprised of pyrrhotite-pyrite (bronze-yellow) and chalcopyrite (golden-yellow). This metre assayed 7.4% Cu, 132g/t Ag, 6.2 g/t Au.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Background on Tarraji-Yampi
Tarraji-Yampi is located entirely within the Yampi Sound Training Area (“ YSTA ”), a Commonwealth Defence Reserve in the West Kimberley, ~80kms from the port of Derby. The YSTA is the second largest defence reserve in Australia after Woomera in South Australia and was off limits to mineral exploration from 1978 to 2013.
The only significant exploration undertaken in the area was by WMC Resources in 1958 and Australian Consolidated Minerals in 1972, with both parties exploring for copper. Since opening for exploration in 2013, Dreadnought has secured the largest ground holding within the YSTA and developed strong working relationships with both the Department of Defence and the Dambimangari People.
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Figure 13: Plan view of Tarraji-Yampi showing the location of prospects in relation to solid geology.
Update on Relevant Metal Prices
Prices for the metals intersected above are robust as can be seen from recent (12/11/2021) LME prices:
| Copper | Silver | Gold | Cobalt | Zinc |
|---|---|---|---|---|
| ~US$9,510 tonne | ~US$23 oz | ~US$1,780 oz | ~US$67,000 tonne | ~US$3,320 tonne |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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Acknowledgements:
Dreadnought would like to acknowledge the continued support of the Dambimangari People, Department of Defence, our Joint Venture Partner Whitewater Resources Pty Ltd, Frontier Helicopters, Southern Geoscience Consultants, Hagstrom Drilling, Ausdrill, Golden Connection, Onshore Environmental, Snappy Gum Earthmoving and Roadworks, JMB Diverse Contracting and Derby Stock Supplies.
For further information please refer to previous ASX announcements:
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11 May 2021 Multiple Conductors Identified at Orion Ni-Cu-PGE
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25 August 2021 RC Results from Orion, Grant’s & Fuso Indicate a large Cu-Au-Ag-Co System
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4 October 2021 Drilling Program Commenced at Tarraji-Yampi Project
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11 October 2021 Massive Sulphides Intersected in Multiple Holes at Orion Cu-Au-Ag-Co
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2 November 2021 Supergene Confirmed and Massive Sulphides Extended at Orion
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15 November 2021 High-Grade Cu-Ag-Au-Co Discovery at Orion
UPCOMING NEWSFLOW
December: Results of ground EM surveys along the Money Intrusion at Mangaroon
December: Further results of airborne magnetic-radiometric surveys for REE ironstones and gold along the Cullen’s Find trend at Mangaroon
December: Mapping and surface sampling at Illaara (Peggy Sue LCT Pegmatites)
December: Mapping and surface sampling carbonatites and other magnetic and radiometric anomalies at Mangaroon
January: Assay results from surface sampling carbonatites - Mangaroon
January: Assays results from Peggy Sue LCT pegmatite sampling – Illaara
January: Assays and DHEM results from Texas diamond drilling – Tarraji-Yampi
~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 Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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INVESTMENT HIGHLIGHTS
Kimberley Cu-Ag-Au-Co Projects
Dreadnought controls the second largest land holding in the highly prospective West Kimberley region of WA. The main project area, Tarraji-Yampi, 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-BiSb-Co system at Tarraji-Yampi, similar to Cloncurry / Mt Isa in Queensland and Tennant Creek in the Northern Territory.
Mangaroon Ni-Cu-PGE, REE & Au Project
Mangaroon is a first mover opportunity
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covering ~4,500sq kms of tenure located 250kms south-east of Exmouth in the Gascoyne Region of WA. During the region’s early history, there was limited government support for exploration resulting in the region being vastly underexplored.
Since acquiring the project in late 2020, Dreadnought has located: outcropping high-grade gold bearing quartz veins along the Edmund and Minga Bar Faults; outcropping high tenor Ni-Cu-PGE blebby sulphides in the recently defined Money Intrusion; outcropping high-grade REE ironstones, similar to those under development at the Yangibana REE Project and recently outcropping carbonatites that may represent the source of the REE-bearing dykes..
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 Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au
+61 (0) 428 824 343
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Table 1: Significant Results (>0.2% Cu, >0.2g/t Au)
| Hole ID | From (m) To (m) Interval (m) Sample Type Cu (%) Ag (g/t) Au (g/t) Co (%) Zn (%) Pb (%) |
Prospect |
|---|---|---|
| KMRC001 | 90 93 3 1m split 0.6 19.1 - 0.01 1.5 0.5 |
Chianti - Rufina |
| KMRC002 | No Significant Results | |
| MKRC003 | No Significant Results | |
| KMRC004 and and |
69 76 7 1m split - - 0.3 - - - |
|
| 81 84 3 1m split - - - 0.15 - - |
||
| 148 149 1 1m split 0.4 5.7 0.2 - - - |
||
| KMRC005 | 124 128 4 1m split 0.3 - - - - - |
|
| KMRC006 | No Significant Results | |
| KMRC007 | 144 145 1 1m split 0.3 1.6 - - - - |
|
| KMRC008 | No Significant Results | Fuso |
| KMRC009 | No Significant Results | |
| KMRC010 | No Significant Results | |
| KMRC011 | No Significant Results | |
| KMRC012 | 90 92 2 1m split 1.1 2.1 - 0.13 - - |
|
| Incl. | 90 91 1 1m split 2.1 3.9 0.1 0.24 - - |
|
| KMRC013 | 36 39 3 3m comp - - 1.9 - - - |
Paul’s Find |
| 108 111 3 3m comp - - 0.2 - - - |
||
| 126 129 3 3m comp - - 0.2 - - - |
||
| KMRC014 Incl. And And And |
38 62 24 1m split 0.3 0.2 - 0.01 - - |
Grant’s Find |
| 38 40 2 1m split 1.6 1.8 0.1 0.1 - - |
||
| 48 49 1 1m split 2.5 - 0.4 0.06 - - |
||
| 89 94 5 1m split 0.4 - - - - - |
||
| 103 104 1 1m split 2.2 0.9 0.1 0.06 - - |
||
| KMRC015 And And |
92 94 2 1m split 0.4 - - 0.01 - - |
|
| 105 108 3 1m split 2.1 0.4 0.4 0.08 - - |
||
| 112 115 3 1m split 0.6 - 0.1 - - - |
||
| KMRC016 And Incl. And |
75 79 4 1m split 0.5 - - 0.01 - - |
|
| 101 111 10 1m split 2.3 0.5 0.1 0.03 - - |
||
| 106 110 4 1m split 4.9 0.8 0.2 0.07 - - |
||
| 161 162 1 1m split 1.4 3.1 0.1 - - - |
||
| KMRC017 | 45 57 12 1m split 1.6 31.7 0.5 0.02 - - |
Orion |
| KMRC018 And Incl. |
64 65 1 1m split - 4.7 - - 1.2 - |
|
| 90 96 6 1m split - 5.3 - - 0.8 0.1 |
||
| 90 91 1 1m split - 4.5 - - 2.6 0.1 |
||
| KMRC019 And Incl. And |
55 58 3 1m split 0.2 1.5 - 0.02 - - |
|
| 83 95 12 1m split 1.3 23.9 0.5 0.02 - - |
||
| 90 94 4 1m split 1.9 36.3 0.6 0.04 - - |
||
| 133 135 2 1m split - - 0.2 - - - |
||
| KMRC020 And |
18 21 3 1m split 0.4 2.3 0.1 0.02 - - |
|
| 33 37 4 1m split 1.1 5.4 0.2 0.02 1.0 - |
||
| KMRC021 and Incl |
12 15 3 3m comp - - 0.2 - - - |
|
| 43 57 14 1m split 0.6 11.3 0.3 0.01 - - |
||
| 45 47 2 1m split 3.1 68.3 1.6 0.05 0.1 0.1 |
||
| KMRC022 Incl. Incl. |
77 93 16 1m split 2.2 38.7 6.6 0.40 - - |
|
| 77 79 2 1m split - 4.8 29.3 1.50 - - |
||
| 82 89 7 1m split 4.7 83.3 4.9 0.20 - - |
||
| KMRC023 And And |
33 36 3 1m split - 1.6 0.1 0.01 0.2 - |
|
| 60 63 3 1m split - - 0.2 - - - |
||
| 63 65 2 1m split 0.1 2.3 - 0.01 0.2 - |
||
| KMRC024 | 20 24 4 1m split 0.2 1.4 - - - - |
www.dreadnoughtresources.com.au [email protected]
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
Table 1 continued: Significant Results (>0.2% Cu, >0.2g/t Au)
| Hole ID | From (m) |
To (m) |
Interval (m) |
Sample **Type ** |
Cu (%) |
Ag (g/t) |
Au (g/t) |
Co (%) |
Zn (%) |
Pb (%) |
Prospect |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KMRC025 Incl. |
38 44 6 1m split 0.6 12.1 0.3 0.02 0.3 0.1 |
Orion | |||||||||
| 40 43 3 1m split 1.1 22.0 0.5 0.04 0.5 0.2 |
|||||||||||
| KMRC026 And And Incl. And |
38 39 1 1m split 0.4 1.1 - 0.02 - - |
||||||||||
| 43 45 2 1m split 0.7 1.7 - 0.01 - - |
|||||||||||
| 92 111 19 1m split 1.0 23.2 1.1 0.06 0.8 - |
|||||||||||
| 92 94 2 1m split 2.0 56.8 5.6 0.25 0.1 0.3 |
|||||||||||
| 107 110 3 1m split 3.5 92.9 1.9 0.14 4.2 0.4 |
|||||||||||
| KMRC027 | 104 107 3 1m split 0.2 7.8 - - - - |
||||||||||
| KMRC028 | No Significant Results | ||||||||||
| KMRC029 | No Significant Results | Fuso | |||||||||
| KMRC030 And |
120 121 1 1m split 0.5 0.9 - - - - |
||||||||||
| 135 137 2 1m split 0.3 0.5 - 0.03 - - |
|||||||||||
| KMRC031 | 204 207 3 1m split 0.2 0.2 - 0.12 - - |
||||||||||
| KMRC032 And And And Incl. |
40 43 3 1m split - 0.1 - 0.11 - - |
||||||||||
| 65 66 1 1m split 0.1 0.3 - 0.05 - - |
|||||||||||
| 97 98 1 1m split 0.2 0.4 - 0.01 - - |
|||||||||||
| 104 116 12 1m split 0.2 0.2 - 0.06 - - |
|||||||||||
| 105 106 1 1m split 0.1 0.2 - 0.40 - - |
|||||||||||
| KMRC033 | No Significant Results | Wilson's Reward |
|||||||||
| KMRC034 And And |
0 9 9 3m comp - - 0.3 - - - |
Orion | |||||||||
| 39 42 3 3m comp - - 0.2 - - - |
|||||||||||
| 48 51 3 1m split - 1.5 - - 0.2 - |
|||||||||||
| KMRC035 Incl. |
29 42 13 1m split 1.0 22.4 0.6 0.04 0.3 0.1 |
||||||||||
| 36 41 5 1m split 2.1 50.2 1.5 0.09 0.6 0.2 |
|||||||||||
| KMRC036 and |
89 92 3 1m split 1.2 27.7 0.7 0.05 1.4 0.5 |
||||||||||
| 119 120 1 1m split 0.2 1.1 0.8 - 0.7 - |
|||||||||||
| KMRC037 Incl. |
29 43 14 1m split 0.4 31.8 3.7 0.02 - - |
||||||||||
| 37 41 4 1m split 0.3 82.9 10.2 0.04 - 0.1 |
|||||||||||
| KMRC038 And And |
70 81 11 1m split 0.3 5.4 0.6 0.02 - - |
||||||||||
| 94 95 1 1m split 0.2 1.9 0.1 - - - |
|||||||||||
| 123 126 3 1m split 0.8 14.5 0.1 0.02 - 0.1 |
|||||||||||
| KMRC039 Incl. |
3 23 20 1m split 1.4 13.4 0.5 0.03 - - |
||||||||||
| 18 21 3 1m split 7.6 116.2 2.2 0.14 0.1 0.3 |
|||||||||||
| KMRC040 | 45 47 2 1m split 0.2 5.5 0.1 0.01 0.1 0.1 |
||||||||||
| KMRC041 | 2 22 20 1m split 0.4 2.7 0.4 0.02 0.2 - |
||||||||||
| KMRC042 | No Significant Results | Orion Area Targets |
|||||||||
| KMRC043 | No Significant Results | ||||||||||
| KMRC044 | 55 68 13 1m split - - - 0.06 - - |
||||||||||
| Incl. And And |
59 61 2 1m split - - - 0.18 - - |
||||||||||
| 85 89 4 1m split 0.1 - - 0.10 - - |
|||||||||||
| 116 117 1 1m split - - - 0.34 - - |
|||||||||||
| KMRC045 | 2 22 20 1m split 0.4 2.7 0.4 0.02 0.2 - |
Orion | |||||||||
| KMRC046 Incl. |
7 29 22 1m split 0.5 9.7 0.3 0.02 |
||||||||||
| 21 26 5 1m split 1.5 30.8 1.3 0.07 - 0.1 |
|||||||||||
| KMRC047 Incl. And |
1 13 12 1m split 3.0 21.4 1.7 0.02 0.3 0.2 |
||||||||||
| 1 6 5 1m split 5.9 44.9 3.7 0.01 0.2 0.4 |
|||||||||||
| 33 36 3 1m split 0.2 - - 0.02 0.4 - |
|||||||||||
| KMRC048 | 135 146 11 1m split 2.2 31.6 1.1 0.07 2.2 0.2 |
||||||||||
| Incl. | 141 145 4 1m split 2.9 46.5 0.9 0.05 4.3 0.3 |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
Table 1 continued: Significant Results (>0.2% Cu, >0.2g/t Au)
| Hole ID | From (m) |
To (m) |
Interval (m) |
Sample **Type ** |
Cu (%) |
Ag (g/t) |
Au (g/t) |
Co (%) |
Zn (%) |
Pb (%) |
Prospect |
|---|---|---|---|---|---|---|---|---|---|---|---|
| KMRC049 Incl. And |
126 144 18 1m split 0.5 5.7 0.1 0.01 0.1 - |
Orion | |||||||||
| 126 129 3 1m split 1.8 21.3 0.3 0.02 0.6 - |
|||||||||||
| 169 171 2 1m split - 1.7 - - 0.3 0.1 |
|||||||||||
| KMRC050 | 170 174 4 1m split 0.1 7.4 0.1 - 0.3 0.1 |
||||||||||
| TXDD001 | Assays Pending | Texas | |||||||||
| TXDD002 | Assays Pending |
Table 2: Max Results
| Hole ID | From (m) To (m) Interval (m) Sample Type Cu (%) Ag (g/t) Au (g/t) Co (%) Zn (%) Pb (%) |
Prospect |
|---|---|---|
| KMRC022 | 78 79 1 1m split - 6.3 34.2 1.66 - - |
Orion |
| KMRC026 | 107 108 1 1m split 3.7 192.0 2.2 0.09 7.1 1.0 |
|
| KMRC039 | 18 19 1 1m split 12.5 129.9 1.9 0.05 0.1 0.1 |
==> picture [455 x 307] intentionally omitted <==
Figure 14: Dreadnought’s Dean Tuck, Matt Crowe, Luke Blais and Frank Murphy at the Tarraji-Yampi exploration camp.
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
Table 3: Drill Collar Data (GDA94 MGAz51)
| Hole ID | Easting | Northing | RL | Dip | Azimuth | EOH | **Type ** | Prospect |
|---|---|---|---|---|---|---|---|---|
| KMRC001 | 612000 | 8167152 | 54 | -60 | 255 | 147 | RC | Chianti |
| KMRC002 | 611609 | 8166414 | 50 | -60 | 52 | 177 | RC | Barolo |
| KMRC003 | 611044 | 8167544 | 50 | -60 | 60 | 201 | RC | Rufina South |
| KMRC004 | 610726 | 8167683 | 50 | -60 | 63 | 177 | RC | Rufina North |
| KMRC005 | 611408 | 8167180 | 50 | -60 | 60 | 165 | RC | Amarone North |
| KMRC006 | 611542 | 8166968 | 50 | -60 | 96 | 220 | RC | Amarone South |
| KMRC007 | 610448 | 8167526 | 50 | -60 | 45 | 177 | RC | Lambrusco |
| KMRC008 | 625449 | 8160147 | 52 | -60 | 319 | 249 | RC | Fuso |
| KMRC009 | 625275 | 8159988 | 49 | -60 | 52 | 225 | RC | |
| KMRC010 | 624750 | 8160052 | 62 | -60 | 319 | 249 | RC | |
| KMRC011 | 624644 | 8160154 | 60 | -65 | 317 | 237 | RC | |
| KMRC012 | 625473 | 8160373 | 49 | -90 | 0 | 165 | RC | |
| KMRC013 | 627320 | 8159628 | 52 | -65 | 360 | 249 | RC | Paul’s Find |
| KMRC014 | 628810 | 8168239 | 71 | -49 | 311 | 165 | RC | Grant’s Find |
| KMRC015 | 628901 | 8168282 | 67 | -50 | 319 | 189 | RC | |
| KMRC016 | 628971 | 8168391 | 73 | -46 | 316 | 183 | RC | |
| KMRC017* | 627928 | 8168656 | 94 | -63 | 290 | 177 | RC | Orion |
| KMRC018* | 627823 | 8167849 | 88 | -64 | 282 | 159 | RC | |
| KMRC019 | 627968 | 8168641 | 86 | -59 | 296 | 135 | RC | |
| KMRC020 | 627897 | 8168667 | 86 | -64 | 295 | 51 | RC | |
| KMRC021 | 627944 | 8168695 | 87 | -58 | 291 | 87 | RC | |
| KMRC022 | 627982 | 8168679 | 87 | -58 | 294 | 135 | RC | |
| KMRC023 | 627913 | 8168619 | 86 | -58 | 292 | 99 | RC | |
| KMRC024 | 627950 | 8168603 | 87 | -58 | 293 | 123 | RC | |
| KMRC025 | 627976 | 8168771 | 86 | -58 | 292 | 81 | RC | |
| KMRC026 | 628014 | 8168754 | 86 | -58 | 291 | 135 | RC | |
| KMRC027 | 627919 | 8168525 | 89 | -67 | 292 | 138 | RC | |
| KMRC028 | 627878 | 8168540 | 90 | -59 | 296 | 81 | RC | |
| KMRC029 | 624542 | 8160195 | 67 | -79 | 41 | 201 | RC | Fuso |
| KMRC030 | 625460 | 8160324 | 72 | -79 | 333 | 213 | RC | |
| KMRC031 | 625784 | 8160701 | 67 | -58 | 7 | 249 | RC | |
| KMRC032 | 625779 | 8160638 | 68 | -58 | 2 | 171 | RC | |
| KMRC033 | 629806 | 8161749 | 90 | -51 | 221 | 183 | RC | Wilson's Reward |
| KMRC034 | 627945 | 8168785 | 94 | -58 | 296 | 57 | RC | Orion |
| KMRC035 | 627992 | 8168812 | 91 | -59 | 295 | 81 | RC | |
| KMRC036 | 628029 | 8168796 | 91 | -59 | 293 | 147 | RC | |
| KMRC037 | 627958 | 8168732 | 91 | -59 | 21 | 81 | RC | |
| KMRC038 | 627998 | 8168718 | 93 | -58 | 290 | 141 | RC | |
| KMRC039 | 627913 | 8168708 | 92 | -59 | 291 | 51 | RC | |
| KMRC040 | 628008 | 8168845 | 83 | -59 | 295 | 87 | RC | |
| KMRC041 | 628044 | 8168832 | 87 | -58 | 290 | 135 | RC | |
| KMRC042 | 627651 | 8168614 | 93 | -58 | 295 | 117 | RC | |
| KMRC043 | 626920 | 8166120 | 85 | -58 | 273 | 117 | RC | |
| KMRC044 | 626972 | 8166425 | 83 | -59 | 274 | 123 | RC | |
| KMRC045 | 627929 | 8168743 | 93 | -57 | 290 | 81 | RC | |
| KMRC046 | 627978 | 8168819 | 92 | -69 | 295 | 39 | RC | |
| KMRC047 | 627867 | 8168681 | 91 | -59 | 273 | 51 | RC | |
| KMRC048 | 628020 | 8168667 | 92 | -59 | 274 | 159 | RC | |
| KMRC049 | 628050 | 8168741 | 93 | -59 | 293 | 189 | RC | |
| KMRC050 | 628029 | 8168572 | 93 | -59 | 299 | 183 | RC |
*Previous drilling at Orion
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
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 information. |
Reverse Circulation (RC) drilling Original 1m Splits (All drilling) Every metre drilled, two 2-3kg sample (original and duplicate) were sub-sampled into calico bags via a Metzke cone splitter. This results in two 1m split samples. 3m Composites (RC drilling) Outside the target zone, all remaining spoil from the sampling system was collected in buckets and 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. QAQC samples, in addition to the target lode duplicates and blanks, consisting of duplicates and CRM’s (OREAS Standards) were inserted through the program at a rate of 1:50 samples. Samples were submitted to the ALS Laboratories in Perth and pulverised to produce a 50g charge for Fire Assay to determine Au and PGEs (PGM- ICP24, or Au-ICP22) and 0.25g aliquot for four acid digest to determine 48 elements (ME-MS61) with overranges as required. Diamond Drilling Core is orientated for structural and geotechnical logging where possible. In orientated core, quarter core will be submitted to the lab for analysis in intervals ranging from 20cm to 1m depending on the geological context. If core is orientated, then the half core will be cut so as to preserve the orientation line with the same side of the core submitted down the hole. QAQC samples consisting of duplicates, blanks and CRM’s (OREAS Standards) will be inserted through the program at a rate of 1:50 samples. Samples were submitted to the ALS Laboratories in Perth and pulverised to produce a 50g charge for Fire Assay to determine Au and PGEs (PGM- ICP24) and 0.25g aliquot for four acid digest to determine 48 elements (ME-MS61) with overranges as required. |
| 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 |
RC Drilling Ausdrill undertook the program utilising a Drill Rigs Australia truck mounted Schramm T685WS |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). |
drill rig with additional air from an auxiliary compressor and booster. Bit size was 5¾”. Diamond Drilling Diamond drilling is being undertaken by Hagstrom Drilling with a frame mounted LF70. Drilling is initially HQ and dropping to NQ once the hole is cased off. Core is orientated using a Reflex EZ trac and Boart Longyear True Core Orientation Tool. |
|
| 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 ore 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. Diamond Drilling HQ and NQ drilling has been undertaken. All core recoveries are measured and recorded by the drill crew for each run and remeasured and checked by Dreadnought personnel. Core recovery to date has been very high. 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 in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged. |
RC chips and diamond core 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, weathering and structure were all recorded digitally. Chips were washed each metre and stored in chip trays for preservation and future reference. 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 |
RC Drilling 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 each ore zone, a duplicate sample was |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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. |
taken of the lode and a blank inserted directly after. 2-3kg samples will be submitted to ALS laboratories (Perth), oven dried to 105°C and pulverised to 85% passing 75um to produce a 50g charge for Fire Assay with ICP-AES finish to determine Au and PGEs (PGM-ICP24) and 0.25g aliquot for four acid digest to determine 48 elements (ME-MS61) with overranges as required. Standard laboratory QAQC is undertaken and monitored. Diamond Drilling 20cm – 1m quarter core samples will be sawn and submitted to the lab for analysis. If core is orientated, then the core will be cut so as to preserve the orientation line with the same side of the core submitted down the hole. QAQC in the form of duplicates, blanks and CRM’s (OREAS Standards) were inserted through the mineralised zones at a rate of 1:50 samples. Additionally, within each mineralised zone, a duplicate sample was taken and a blank inserted directly after. Samples will be submitted to ALS laboratories (Perth), oven dried to 105°C and pulverised to 85% passing 75um to produce a 50g charge for Fire Assay with ICP-AES finish to determine Au and PGEs (PGM-ICP24) and 0.25g aliquot for four acid digest to determine 48 elements (ME- MS61) with overranges as required. 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. |
Assay technique is Fire Assay which is a ‘Total Technique’ for Au and PGEs. Four acid digest is considered a ‘near total’ technique for the 48 elements received under ME-MS61. Standard laboratory QAQC is undertaken and monitored by the laboratory and by the company upon assay result receival. Standards, Dups and Blanks all performed to company standards providing confidence in sample preparation, instrument calibration and primary sampling off the rig. |
| 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. |
Logging and sampling were recorded directly into a digital logging system, verified and eventually stored in an offsite database. Significant intersections have been inspected by senior company personnel. No twinned holes have been drilled at this time. No adjustments to any assay data have been undertaken. |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| 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 Z51s 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 modelled FLEM plates and known outcrop. No sample bias is known at this time. |
| Sample security | • The measures taken to ensure sample security. |
All samples from collection at rig through to submission at the laboratory have been under the supervision of Dreadnought personnel or sub- contractors associated with the company. All samples are stored is core trays and strapped to pallets for storage and transport. |
| 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 Tarraji-Yampi Project consists of 5 granted (E04/2315, E04/2508, E04/2572, E04/2557, E04/2608) exploration Licenses. • The Tarraji tenement (E04/2315) is a 80/20 JV between IronRinger (Tarraji) Pty Ltd and Whitewater Resources Pty Ltd. • The Yampi Tenements (E04/2508, E04/2572, E04/2557, E04/2608) are 100% owned by Dreadnought Exploration Pty Ltd • Dreadnought Exploration Pty Ltd is a wholly owned subsidiary of Dreadnought Resources Ltd. • E04/2315, E04/2508, E04/2572, E04/2557 are located within the Yampi Sound TrainingArea(YSTA)which is |
www.dreadnoughtresources.com.au [email protected]
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
+61 (0) 428 824 343
==> picture [149 x 85] intentionally omitted <==
| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| freehold land owned by the Commonwealth Government and administered by the Department of Defence. Being freehold Commonwealth Land, Native Title has been extinguished but falls within Dambimangari Land. • E04/2608 is partly located within the YSTA and partly on Vacant Crown Land which has Native Title claim by the Warra Combined (NNTT Number 2901) |
||
| Exploration done by other parties |
• Acknowledgment and appraisal of exploration by other parties. |
• Regional mapping, basic stream sediment, soil sampling and limited diamond drilling was completed by WMC in the 1950s. • Shallow percussion and diamond drilling was undertaken by ACM at Chianti in the 1970s. • The YSTA was off limits to exploration from 1978 until 2013. |
| Geology | • Deposit type, geological setting and style of mineralisation. |
• The Tarraji-Yampi Project is located within the Hooper Complex which is a Proterozoic Mobile Belt in the West Kimberley. • The Hooper Complex has known occurrences of Cu-Zn-Pb-Ag VMS mineralisation within the Marboo Formation, magmatic Ni-Cu-PGE mineralisation in the Ruins Dolerite and later stage Proterozoic Cu-Au mineralisation associated with significant structures and late-stage intrusions. |
| 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: oeasting and northing of the drill hole collar oelevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar odip and azimuth of the hole odown hole length and interception depth ohole 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. |
• No assays reported. |
| Relationship between |
• These relationships are particularly important in the reporting of Exploration Results. |
• Drilling is undertaken close to perpendicular to the dip of the |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au [email protected]
+61 (0) 428 824 343
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| Criteria | JORC Code explanation | Commentary |
|---|---|---|
| mineralisation widths and intercept lengths |
• 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’). _ |
mineralisation. • The true thickness of the mineralisation intersected in drill holes cannot currently be calculated. |
| Diagrams | • Appropriate maps and sections (with 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. |
• Refer to figures within this report. |
| 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. |
• Rio Tinto Exploration completed a versatile time domain electromagnetic (VTEM) and aeromagnetic survey covering 206 sq km of the Yampi tenements for 901-line kilometres of data using 125 and 250 m line spacing. Targets from the VTEM survey are shown in Figure 3 in this report. . |
| 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. |
• Additional drilling is expected to commence in 2022. |
Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872
www.dreadnoughtresources.com.au
+61 (0) 428 824 343