Skip to main content

AI assistant

Sign in to chat with this filing

The assistant answers questions, extracts KPIs, and summarises risk factors directly from the filing text.

DREADNOUGHT RESOURCES LTD Regulatory Filings 2021

Jun 10, 2021

64785_rns_2021-06-10_170ed751-0307-457d-a065-c96fce6793ad.pdf

Regulatory Filings

Open in viewer

Opens in your device viewer

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

11 June 2021

HIGH-GRADE RARE EARTH ELEMENT IRONSTONES OUTCROPPING AT MANGAROON

HIGHLIGHTS

  • Twelve Rare Earth Element (“REE”) prospects have been identified in the south-eastern area of the Mangaroon Project (DRE 100%, “Mangaroon”). Mangaroon located ~15kms southwest of the Yangibana REE Project (“Yangibana”) which is currently under construction and development by Hastings Technology Metals Limited (ASX:HAS, “Hastings”).

  • Rock chips from outcropping ironstones at the 2.5km long Yin prospect have returned assays up to 11.2% Total Rare Earth Oxide (“TREO”), including 3.6% Nd2O3+Pr6O11.

  • The TREO and the Nd2O3+Pr6O11 results from Yin exhibit similar characteristics to Yangibana.

  • Adjacent ground has recently been applied for and a field crew is currently undertaking further sampling and assessment of Yin and other prospects, with additional assays expected in July 2021.

  • Nickel and gold exploration programs are continuing at Mangaroon and mobilisation to the Kimberley remains on schedule with drilling to commence at the Texas Ni-Cu-PGE target in June 2021.

Dreadnought Resources Limited (“ Dreadnought ”) is pleased to announce that it has received high-grade REE assays from previously unsampled ironstone outcrops at the Yin prospect, similar to those seen at Yangibana located ~15 kms to the northeast.

To date, twelve REE prospects have been identified based on thorium radiometric anomalies coincident with apparent ironstone outcrops. The high-grade rock chips were taken from the Yin prospect where ongoing field work has traced the ironstone over 2.5km of strike.

Significantly, eleven other REE prospects remain to be inspected and field work is currently being undertaken to assess these prospects in addition to the strike extents of Yin.

Dreadnought’s Managing Director, Dean Tuck, commented: “ The number of prospects identified, combined with the high-grades of rare earths at Yin has been an interesting development for us at Mangaroon. Further

==> picture [367 x 240] intentionally omitted <==

work is underway to determine the potential scale and implications of this opportunity.

In the interim, we remain focused on drilling at our Kimberley project with rigs and personnel mobilising on schedule in June 2021.”

Figure 1: Dreadnought’s Ross Chandler taking a scintillometer reading over an ironstone outcrop during rock chip sampling at the Yin Prospect.

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 <==

==> picture [454 x 540] intentionally omitted <==

Figure 2: Map showing the location of rock chip samples at Yin and the location of confirmed outcropping ironstones and their interpreted extensions under shallow cover.

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 <==

Rare Earths at Mangaroon (E09/2448, E09/2450, E09/2535: DRE 100%)

The Yangibana ironstones are readily accessible and located 5-20km from the Cobra - Gifford Creek Road. The ironstones were first targeted by prospectors in 1972 as base metal bearing gossans. The REE potential of the ironstones was first assessed in 1985 and has seen substantial work since Hastings acquired the ironstones north of the Lyons River Fault in 2011 (Figure 3).

However, no significant REE exploration was ever undertaken south of the Lyons River Fault, considered to be the southern extent of REE mineralisation.

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, which are used for magnets for electric vehicles and renewable power generation, are an important component for project economics.

The TREO results and the Nd2O3+Pr6O11 component from Yin, exhibit similar characteristics to Yangibana (Figure 4).

Significantly, eleven other REE prospects remain to be tested, including extensions to Yin, and field work is currently being undertaken.

==> picture [431 x 377] intentionally omitted <==

Figure 3: Plan view image showing the location of Dreadnought’s REE prospects including Yin (purple), in relation to the Lyons River Fault and the location of deposits within the Yangibana REE Project (black).

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

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 <==

==> picture [383 x 280] intentionally omitted <==

Figure 4: Scatter plot showing the similarity of TREO and Nd2O3+Pr6O11 values from Yin and publicly available Yangibana rock chip data.

Sample ID Easting
Northing
TREO %
Nd2O3 + Pr6O11%
(Nd2O3 + Pr6O11)
% of TREO
MNRK0101 401637
7350206
7.14
2.20
31
MNRK0102 401648
7350201
7.72
2.35
30
MNRK0104 401657
7350221
1.13
0.34
30
MNRK0105 401689
7350278
3.56
1.11
31
MNRK0106 401715
7350353
1.91
0.60
31
MNRK0107 401723
7350334
0.42
0.12
29
MNRK0108 401802
7350196
0.54
0.10
19
MNRK0109 401783
7350255
0.98
0.29
30
MNRK0111 401720
7350085
0.44
0.15
34
MNRK0270 401687
7350359
0.29
0.06
21
MNRK0271 401710
7350350
0.34
0.09
26
MNRK0272 401737
7350352
0.69
0.20
29
MNRK0273 401684
7350365
1.48
0.46
31
MNRK0274 401746
7350320
1.80
0.54
30
MNRK0275 401735
7350307
1.43
0.42
29
MNRK0276 401711
7350283
0.31
0.09
29
MNRK0277 401701
7350273
0.28
0.07
25
MNRK0278 401663
7350216
0.97
0.28
29
MNRK0279 401632
7350191
1.38
0.42
30
MNRK0280 401628
7350211
0.70
0.16
23
MNRK0281 401646
7350221
1.19
0.36
30
MNRK0282 401653
7350213
3.63
1.18
33
MNRK0283 401638
7350206
0.63
0.18
29
MNRK0284 401634
7350207
11.2
3.56
32
MNRK0112 400611
7352124
0.45
0.14
31

Table 1: Rock chip results from the Yin and Y2 prospects

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 <==

Ongoing and Upcoming Work Programs at Mangaroon:

Completed: Wide spaced 400x40m soil sampling along the Money Intrusion for Ni-Cu-PGE target generation – Assays Pending.

Completed: Wide spaced 800x50m soil sampling along the Edmund and Minga Bar Faults including close spaced 100x50m target definition soils at Cullen’s Find and Mitchell’s Find – Assays Pending.

Commenced: Mapping and rock chipping along the Money Intrusion for Ni-Cu-PGE target generation.

Commenced: Mapping, rock chip sampling and orientation geochemical and geophysical surveys of additional REE prospects.

June: Project wide multi-element stream sediment sampling to commence.

==> picture [452 x 233] intentionally omitted <==

Figure 5: Photo of Dreadnought’s Luke Blais and Nick Chapman mapping and sampling at Yin North.

REE are Critical Minerals

REE are considered critical minerals. These are metals and non-metals that are vital for the economic well-being of the world's economies, yet whose supply may be at risk due to a number of factors.

The minerals ranked as most critical by the United States, Japan, Republic of Korea, and the European Union including the United Kingdom, are as follows (ranked by Geoscience Australia based on synthesis of individual country rankings):

Rare-earth elements (REE), gallium (Ga), indium (In), tungsten (W), platinum-group elements (PGE) including platinum (Pt) and palladium (Pd), cobalt (Co), niobium (Nb), magnesium (Mg), molybdenum (Mo), antimony (Sb), lithium (Li), vanadium (V), nickel (Ni), tantalum (Ta), tellurium (Te), chromium (Cr) and manganese (Mn).

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 <==

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 >4,500 sq. kms of the Mangaroon Zone in the Gascoyne Region of Western Australia. 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. 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.

==> picture [454 x 426] intentionally omitted <==

Figure 6: Plan view map of Mangaroon showing the location of current prospects and new tenement application in relation to major structures, geology, roads and the Yangibana REE Project.

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 <==

For further information please refer to previous ASX announcements:

  • 25 November 2020 Mangaroon Ni-Cu-PGE & Au Project

  • 15 March 2021 Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project

  • 7 April 2021 Option/JV Agreement with Global Base Metal Miner at Mangaroon

  • 17 May 2021 Update on Mangaroon Ni-Cu-PGE & Au Project

UPCOMING NEWSFLOW

June: Rock Chip results from Peggy Sue LCT pegmatite swarm at Illaara

June: Results from target definition and generation work at Mangaroon Ni-Cu-PGE & Au Project

June: Commencement of diamond drilling at Texas Ni-Cu-PGE target at Tarraji-Yampi

June: Commencement of RC drilling at Orion Ni-Cu-PGE, Fuso and Paul’s Find Cu-Au and ChiantiRufina VMS targets

June: Commencement of additional FLEM surveys at Orion Ni-Cu-PGE

June/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 Orion Ni-Cu-PGE, Fuso and Paul’s Find CuAu, and Chianti-Rufina VMS targets).

~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

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

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.

==> picture [261 x 358] intentionally omitted <==

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. Mangaroon is prospective for magmatic NiCu-PGE, high grade gold and ferrocarbonatite hosted REE.

Rocky Dam Gold & VMS Project

Rocky Dam is located 45kms east of Kalgoorlie in the Eastern Goldfields Superterrane of Western Australia. Rocky Dam is prospective for typical Archean mesothermal lode gold deposits and Cu-Zn VMS mineralisation. Rocky Dam has known gold and VMS occurrences with drill ready gold targets including the recently defined CRA-North Gold Prospect.

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.
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 Rare Earth Oxides
by Lithium Borate Fusion XRF (ALS Method
ME-XRF30).
Yangibana Rock Chips

Rock Chips were collected by Hastings and
Artemis personnel and submitted for analysis.

Hastings submitted rock chips to Genalysis for
determination of Rare Earth Oxides by Lithium
Borate Fusion ICP-MS (Genalysis Method
FP6/MS).

Artemis submitted rock chips to Genalysis for
determination of Rare Earth Oxides by Lithium
Borate Fusion ICP-MS/OES (Genalysis Method
FS105/MS/OES).
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
No drilling undertaken

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

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

Criteria JORC Code explanation Commentary
sample recovery and grade and whether
sample bias may have occurred due to
preferential loss/gain of fine/coarse material.
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.
No drilling undertaken
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.
Yangibana Rock Chips
Sub-sampling and sample prep are unknown.
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 66-gram aliquot of pulverised sample is fused
with 12:22 lithium borate flux containing an
oxidizing agent, and poured to form a fused
disk. The resultant disk is in then analysed by
XRF spectrometry specifically for Rare Earths
(ALS Method ME-XRF30)

Lithium borate fusion is considered a total
digest and Method ME-XRF30 is appropriate
for REE determination.

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

Hastings submitted rock chips to Genalysis for
determination of Rare Earth Oxides by Lithium
Borate Fusion ICP-MS (Genalysis Method
FP6/MS).

Lithium borate fusion is considered a total
digest and Method FP6/MS is considered
appropriate for REE determination.

Artemis submitted rock chips to Genalysis for
determination of Rare Earth Oxides by Lithium
Borate Fusion ICP-MS/OES(Genalysis Method

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

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

Criteria JORC Code explanation Commentary
FS105/MS/OES).

Lithium borate fusion is considered a total
digest
and
Method
FS105/MS/OES
is
considered appropriate for REE determination.
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.
Yangibana Rock Chips
No verification of sampling and assaying of the
Yangibana rock chips has been undertaken by
Dreadnought
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 MGAz50.
Yangibana Rock Chips

Survey information of the Yangibana rock chips
is unknown, coordinates were included in the
public assay files from WAMEX reports
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.
Sample spacing and distribution is not sufficient to
establish the degree of geological and grade
continuity appropriate for a Mineral Resource.
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 Norex General Transport in
Exmouth.

Samples were delivered directly to ALS
Laboratories Perth by Norex General Transport
out of Exmouth.
Yangibana Rock Chips
Sample security is unknown

www.dreadnoughtresources.com.au

Dreadnought Resources Limited

[email protected]

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
Audits or reviews
The results of any audits or reviews of
sampling techniques and data.
The program is continuously reviewed by senior
company personnel.
Yangibana Rock Chips
Audits and reviews of rock chips are unknown.

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 1 granted
Exploration License (E09/2370,) and 12
pending Exploration Licenses (E08/3178,
E08/3274, E08/3275, E09/2384, E09/2433,
E09/3178, E09/2448, E09/2449, E09/2450,
E09/2467, E09/2468, E09/2535)

All
tenements
are
100%
owned
by
Dreadnought Resources.

E08/3178,
E09/2370,
E09/2384
and
E09/2433 are subject to a 2% Gross Value
Royalty held by Beau Resources.

E08/3274, E08/3275, E09/2433, E09/2448,
E09/2449, E09/2450 are subject to a 1%
Gross
Value
Royalty
held
by
Beau
Resources.

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, Towra 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 in the region by a
few parties including:
Hurlston Pty Ltd 1986-1987: WAMEX Report
A23584
Newmont 1990: WAMEX Report A32886
Newcrest 1990: WAMEX Report A36887
Desert Energy 2006-2007: WAMEX Reports
A78056, A80879
Yangibana Rock Chips
Hastings 2017: WAMEX Report A114242
Hastings 2014: WAMEX Report A102800
Hastings 2013: WAMEX Report A97135
Hastings 2012: WAMEX Report A93001

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

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

Criteria JORC Code explanation Commentary
Artemis 2009: WAMEX Report A89503
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 Ferrocarbonatite 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.
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.
No drilling undertaken
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
discovery being reported These should
include, but not be limited to a plan view
of
drill
hole
collar
locations
and

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
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.

Detailed
airborne
magnetics,
surface
geochemistry and mapping prior to drilling

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