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DREADNOUGHT RESOURCES LTD Regulatory Filings 2021

Jul 6, 2021

64785_rns_2021-07-06_b9f8df1c-edd1-4b00-8aa3-73620ee248f3.pdf

Regulatory Filings

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7 July 2021

HIGH-GRADE TANTALUM RESULTS FROM PEGGY SUE – ILLAARA PROJECT

HIGHLIGHTS

  • Encouraging high-grade rock chips in first pass sampling at the Peggy Sue critical minerals prospect (“Peggy Sue”) with significant results including:

  • LRK046: 529ppm Ta2O5 • LRK067: 391ppm Ta2O5 • LRK066: 295ppm Ta2O5

  • LRK100: 357ppm Ta2O5 • LRK069: 310ppm Ta2O5 • LRK068: 283ppm Ta2O5

  • Multiple clusters of high-grade mineralisation indicate a potentially large and fertile system.

  • Furthering mapping and sampling will focus on identifying mineral source and zonation to define drill targets for testing in late 2021/early 2022.

Dreadnought Resources Limited (“ Dreadnought ”) is pleased to announce the results from rock chip sampling of pegmatites at Peggy Sue, part of the Illaara Project (“ Illaara ”).

Results from Peggy Sue have identified multiple, high-grade tantalum clusters and anomalous lithium. Typically, these deposits are formed by a host granite source with mineralisation (including beryllium, niobium, caesium, tantalum and lithium) distributed in distinct zones beyond the source. These rock chip results indicate a potentially large and fertile system. Future work will look to further map and sample the pegmatites to determine the mineral zonation patterns and define drill targets. This work is planned to commence in the December 2021 quarter.

Dreadnought Managing Director, Dean Tuck, commented: “ Identifying these high-grade tantalum clusters from first pass sampling is highly encouraging. Tantalum is a critical metal where security of supply matters and Peggy Sue is ideally situated in a Tier 1 jurisdiction. Going forward, we will be looking to extend the mineralisation and define any zonation within these pegmatite swarms with an eye to vector in towards additional tantalum and potential lithium and caesium zones.”

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Figure 1: Dreadnought’s Nick Chapman and Luke Blais sampling a large pegmatite at Peggy Sue.

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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Peggy Sue (E30/476: 100%, E30/485: Option to acquire 100%)

Peggy Sue was highlighted by a strong and coherent 5,000m x 1,000m soil anomaly (Li-Cs-Ta-Nb-RbBe-Sn) in the southern area of Illaara associated with fertile late-stage felsic intrusions. Reconnaissance mapping of the area confirmed the presence of a large pegmatite dyke swarm, with some outcropping pegmatites >10m thick and several hundred metres in length, associated with the anomalism.

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The results of the reconnaissance rock chip sampling have confirmed several clusters of high-grade tantalum mineralisation, indicative of a highly fractionated and fertile pegmatite system (Figure 2). Lithium values were subdued in the rock chips with a maximum of 0.37% L2O, which could be due to the pegmatites being strongly zoned, or near surface leaching of the lithium minerals.

Follow up sampling and more detailed mapping will be undertaken to define mineralisation extents and mineral zonation. This work will be undertaken in the December 2021 quarter with results by the end of 2021.

Figure 2: Plan view image showing the location of mapped pegmatites and rock chip sample locations highlighting high grade Ta2O5 results.

www.dreadnoughtresources.com.au [email protected] +61 (0) 428 824 343

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

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Figure 3: Plan view of Illaara showing the location of targets over solid geology.

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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About Tantalum

Tantalum is a critical material with limited threat from substitution and reliable high-performance consumers in sectors such as aerospace, medical and military. The largest application for tantalum is in high performance capacitors which is experiencing growth due to the roll out of 5G infrastructure and electrification of homes, cars and workspaces. Other major markets include anti-corrosive materials for the chemical processing industry, mill products, cemented carbides and specialist tantalum alloys for aerospace.

World niobium and tantalum Resources are poorly reported. Central Africa is known to host major Resources, but dependable estimates are unavailable.

Global production comes mainly from: the Democratic Republic of Congo (39%); Rwanda (28%); Nigeria (8%); China (7%); Brazil (6%) and Australia (3%).

The majority of Australia's tantalum Resources and probably all of Australia's tantalum production, are from lithium-tantalum, hard-rock pegmatite deposits where tantalum is produced as a byproduct from lithium mining. In the past, however, a number of these deposits were primarily focussed on tantalum mining, sometimes with lithium and/or tin as by-products (eg Wodgina, Greenbushes and Bald Hill).

Australian sourced tantalum potentially offers a more sustainable and traceable product compared to African-sourced tantalum. The European Union’s new Conflict Minerals Regulation came into force on 1 January 2021. The Regulation aims to stem the trade in tin, tantalum, tungsten and gold which sometimes finance armed conflict or are mined using forced labour. Along with the Dodd Frank provisions of the US, the Regulation will put more responsibility on consumers to ensure sustainability.

Background on Illaara

Illaara is located 190 kms from Kalgoorlie and comprises seven tenements (~900 sq kms) covering 75km of strike along the entire Illaara Greenstone Belt. The Illaara Greenstone Belt has now been consolidated through an acquisition from Newmont and subsequently the purchase of Metzke’s Find and an option to acquire 100% of E30/485 and E29/965.

Recent gold exploration within the Illaara Greenstone Belt was spurred on by a ~55km long Au-As-Sb anomaly generated from regional regolith sampling by the Geological Survey of Western Australia.

Prior to Newmont, the Illaara Greenstone Belt was held by Portman Iron and Cleveland Cliffs who were looking to extend their mining operations north as part of their Koolyanobbing Iron Ore Operation. Given the long history of iron ore mining in the region, Illaara is well situated in relation to existing road and rail infrastructure connecting it to a number of export ports.

Historically gold was discovered and worked at Metzke’s Find and Lawrence’s Find in the early 1900s. In addition to gold, outcropping VMS base metals mineralisation was identified and briefly tested in the 1980s with no subsequent exploration utilising modern techniques.

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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For further information please refer to previous ASX announcements:

  • 24 June 2019

  • 75 km Long Illaara Greenstone Belt Acquired from Newmont

  • 6 December 2019 Consolidation of 75km Long Illaara Greenstone Belt

  • 16 February 2021 Significant Soil Anomalies Along Lawrence’s Corridor

  • 27 April 2021 Illaara Update and Regional Target Generation

UPCOMING NEWSFLOW

July: Results from target definition and generation work at Mangaroon

July: Results from target definition and generation work at Tarraji-Yampi

July: Diamond drilling at Texas Ni-Cu-PGE and RC drilling at Fuso and Paul’s Find Cu-Au, Orion Ni-CuPGE and Chianti-Rufina VMS targets

July: Commencement of additional FLEM surveys on the northern portion of Orion Ni-Cu-PGE

July: Commencement of detailed airborne magnetic survey over Yampi and Wombarella

July: Additional rock chip results from REE targets at Mangaroon

July: Quarterly Activities and Cash Flow Report

July/August: Results of drilling at Tarraji-Yampi (Texas and Fuso and Paul’s Find Cu-Au, Orion Ni-CuPGE and Chianti-Rufina VMS targets).

2-4 August: Attending Diggers and Dealers in Kalgoorlie

~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 Ni-Cu-Au 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 1900s which have seen no modern exploration.

Three styles of mineralisation occur at Tarraji-Yampi including: volcanogenic massive sulphide (“ VMS ”); Proterozoic Cu-Au (“ IOCG ”); and magmatic sulphide Ni-Cu-PGE. Numerous high priority nickel, copper and gold drill targets have been identified from recent VTEM surveys, historical drilling and surface sampling of outcropping mineralisation.

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Illaara Gold, VMS & 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 and base metals VMS mineralisation.

Dreadnought has consolidated the Illaara Greenstone Belt mainly through an acquisition from Newmont. Newmont defined several camp-scale targets which were undrilled due to a change in corporate focus. Prior to Newmont, the Illaara Greenstone Belt was predominantly held by iron ore explorers and has seen minimal gold and base metal exploration since the 1990s.

Mangaroon Ni-Cu-PGE, REE & Au Project

Mangaroon is a first mover opportunity covering ~4,500sq kms of tenure located 250kms south-east of Exmouth in the Gascoyne Region of Western Australia. During most of the regions early history, it did not receive government support for prospecting and or exploration resulting in a vastly underexplored region in Western Australia.

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 and outcropping high-grade REE ironstones, similar to those under development at the Yangibana REE Project. Mangaroon is still in the early stages with limited modern exploration.

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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Table 1: Significant Results (>0.1 % Li2O or >80ppm Ta2O5)

Sample
ID
Easting
Northing
Ta2O5
(ppm)
Li2O
(ppm)
Nb2O5
(ppm)
Cs
(ppm)
Rb
(ppm)
Prospect
LRK010
221595
6710810
8
947
44
10.3
2180
Peggy Sue
LRK023
221718
6712209
159
22
72
6.2
967
LRK024
221670
6712215
93
22
86
23.7
617
LRK046
221757
6712600
529
22
227
11.2
2650
LRK054
221370
6711828
97
22
92
8.4
1995
LRK058
221405
6711764
88
65
82
2.4
131
LRK066
220556
6713515
296
22
127
9.9
366
LRK067
220443
6713443
391
bdl
134
7.5
337
LRK068
220440
6713443
283
bdl
124
5.7
144
LRK069
220447
6713401
310
22
163
8.4
217
LRK071
221328
6712244
18
861
90
5.6
1480
LRK085
221392
6712634
13
1356
73
11.2
1570
LRK091
221516
6713068
84
517
144
18.9
1215
LRK092
221523
6713077
58
883
227
16.2
1900
LRK095
221426
6713065
216
194
132
4.9
56.3
LRK096
221433
6713017
145
215
114
22
670
LRK098
221376
6713113
270
129
169
4.6
250
LRK099
221395
6713146
167
452
110
29.2
3000
LRK100
221401
6713142
357
301
199
13.3
1350
LRK101
221454
6713180
181
215
103
8.9
861
LRK102
221464
6713183
123
861
80
16.6
1285
LRK112
221510
6713299
61
3724
112
37.4
4900
LRK113
221480
6713275
216
151
114
5.1
75.5
LRK114
221469
6713346
69
1055
116
12
2040
LRK116
221429
6713300
97
323
104
5.6
534
LRK118
221387
6713269
84
667
268
11.5
1290
LRK121
221086
6713048
116
990
97
18.2
1770
LRK122
221684
6715606
190
43
90
2.4
138
LRK123
221732
6715584
136
22
87
3.5
657
LRK124
221729
6715577
134
bdl
87
10.2
1040
LRK126
221824
6715395
81
65
93
3.2
482
LRK135
221638
6715387
136
22
96
2.1
287
LRK136
221746
6715271
159
22
323
2.7
535
LRK137
221766
6715264
102
43
110
1.6
211
LRK142
221642
6715077
138
22
127
2.2
522
LRK150
221652
6714697
89
22
94
2.7
715
LRK151
221644
6714704
99
43
139
0.9
167.5
LRK152
221652
6714749
105
65
160
3
513
LRK162
221963
6714962
89
43
94
3.3
609
LRK170
221617
6714405
115
43
203
2.5
288
LRK173
221765
6714467
92
43
117
1.1
150.5

*bdl = below detection limit, location in GDA94 MGAz51

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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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.
Rock Chips

Rock Chips were collected by Dreadnought
staff and submitted for analysis. Rock chips are
random,
subject
to
bias
and
often
unrepresentative for the typical widths required
for economic consideration. They are by nature
difficult to duplicate with any acceptable form of
precision or accuracy.

Rock
chips
have
been
collected
by
Dreadnought
to
assist
in
characterising
different
lithologies,
alterations
and
expressions
of
mineralisation.
In
many
instances, several rock chips were collected
from
a
single
location
to
assist
with
characterising and understanding the different
lithologies, alterations and expressions of
mineralisation present at the locality.

Rock chips were submitted to ALS Laboratories
in Perth for determination of LCT Pegmatite
related elements by Sodium Peroxide Fusion
with a ICP-AES and ICP-MS analysis (ALS
Method MS91-PKG).
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.).
No drilling undertaken
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.
No drilling undertaken
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
No drilling undertaken

www.dreadnoughtresources.com.au

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

[email protected]

+61 (0) 428 824 343

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Criteria JORC Code explanation Commentary
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.
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.
Rock Chips
Entire rock chips were submitted to the lab for
sample prep and analysis.
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.
Rock Chips

All
samples
were
submitted
to
ALS
Laboratories in Perth where 1-3kg rock chips
samples were crushed so that >70% of material
passes through -6mm, the sample is then
pulverised to >85% passing 75 micron.

A 20-gram aliquot of pulverised sample is
digested by Sodium Peroxide Fusion with a
ICP-AES and ICP-MS analysis (ALS Method
MS91-PKG).

Sodium peroxide fusion is considered a total
digest and Method MS91-PKG is appropriate
for LCT determination.

No standards, duplicates or blanks submitted
with rock chips.
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.
Rock Chips

Rock chip and geological information is written
in field books and coordinates and track data
saved from hand held GPSs used in the field.

Dreadnought geologists have inspected and
logged all rock chips.

Field data is entered into excel spreadsheets to
be loaded into a database.
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.

All sample locations were recorded with a
Garmin handheld GPS which has an accuracy
of +/- 5m.

GDA94 MGAz51.
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 andgrade continuity appropriate
Sample spacing and distribution is not sufficient to
establish the degree of geological and grade
continuity appropriate for a Mineral Resource.

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

+61 (0) 428 824 343

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Criteria JORC Code explanation Commentary
for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications
applied.

Whether sample compositing has been
applied.
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.
At this early stage of exploration, mineralisation
thickness’s, orientation and dips are not known.
Sample security
The measures taken to ensure sample
security.

All geochemical samples were collected,
bagged, and sealed by Dreadnought staff and
delivered to ALS Laboratories in Kalgoorlie.

Samples were delivered directly to ALS
Laboratories Perth by ALS.
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 Illaara Project consists of 7 granted
Exploration Licenses (E30/471, E30/476,
E29/957, E29/959, E29/1050, E29/965 and
E30/485)

Tenements E30/471, E30/476, E29/957 and
E29/959 are 100% owned by Dreadnought
Resources.

These 4 tenements are subject to a 1% NSR
retained by Newmont

E29/1050 is 100% owned by Dreadnought
Resources with a 1% NSR retained by
Gianni, Peter Romeo.

E29/965 and E30/485 are currently held by
Dalla-Costa, Melville Raymond, is in good
standing and is subject to an option to acquire
100% by Dreadnought Resources.

There are currently no clear Native Title
Claims over the Illaara Project

Part of the Illaara Project is located on
Walling Rock Station.
Exploration done by
other parties

Acknowledgment
and
appraisal
of
exploration by other parties.

Newmont
Exploration
has
undertaken
exploration activities since 2016 which are
mentioned in previous reports.

Historical exploration of a sufficiently high
standard was carried out by numerous parties
which have been outlined and detailed in
previous ASX announcements:

Dreadnought Resources Limited

www.dreadnoughtresources.com.au

[email protected]

Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

+61 (0) 428 824 343

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Criteria JORC Code explanation Commentary
Eastern Group 1988: WAMEX Report A22743
Anglo Australian 1995: WAMEX Report A45251
Polaris 2006-2007: WAMEX Report A75477
Geology
Deposit type, geological setting and style
of mineralisation.

The Illaara Project is located within the Illaara
Greenstone Belt within the Southern Cross
Domain
of
the
Youanmi
Terrane
approximately 60kms west of the Ida Fault.

The Illaara Project is prospective for orogenic
gold, VMS, LCT pegmatites and potentially
komatiite hosted nickel mineralisation.
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.

No drilling undertaken
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 have been reported above 0.1%
Li2O and >80ppm Ta2O5Au.

No top cutting has been applied.

All reported results have been length
weighted (arithmetic length weighting).

No metal equivalent values 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’). _

No drilling undertaken
Diagrams
Appropriate maps and sections (with
scales) and tabulations of intercepts
should be included for any significant

Refer to figures within this report.

www.dreadnoughtresources.com.au

Dreadnought Resources Limited Suite 6, 16 Nicholson Road, Subiaco WA 6008 PO Box 1240, West Perth WA 6872

[email protected]

+61 (0) 428 824 343

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

Criteria JORC Code explanation Commentary
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 is 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.

Further mapping and rock chip sampling will
be undertaken at Peggy Sue

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