Dreadnought Resources Limited has issued the latest updates on the drilling activities at the Mangaroon Project.
Dreadnought reported that mineralisation has been confirmed by portable XRF and that assays will be released before the June quarter ends.
According to the company, reverse circulation (RC) drilling activities were focussed on first-pass drilling over 16 km of the exploration target and over the C1 to C6 strike of the Yin resource, and has confirmed a thick and shallowly dipping mineralised ironstone at Y2 and over 3 km of mineralisation along the strike of the Yin resource.
It added that first-pass drilling is expected to finish as planned, following which infill drilling will commence on Y2 and other mineralised ironstones and mineralised carbonatites targetting resource growth.
The drilling activities have extended Yin’s mineral resource to the south by 1 km and by 2 km to the north of the current resource where three new ironstone lodes have been confirmed.
Drilling of the ironstones indicates that the main lode pinches, swells and changes to the dip and orientation along strike range up to 54 m in thickness.
Additionally, several parallel lodes have been intersected above and below the main lode and often exhibit a similar orientation as the main lode with thicknesses ranging from 1 to 10 m.
The mineralised ironstones consist of goethite- and hematite-dominated oxide zones near the surface transitioning into a fresh ferrocarbonatite dyke, comprised of ankerite and siderite below the base of oxidation.
“Drilling continues across multiple fronts targeting Resource growth south of Yin, discovery drilling at Y2 and confirming the >800m extension to the C5 carbonatite. In addition, encouraging observations from the C6 carbonatite support either a Palabora style opportunity, or perhaps Ni-Cu-PGEs with drilling ongoing. With first pass drilling expected to be completed in June 2023, we remain on track for multiple Resource updates this year,” Dreadnought Managing Director Dean Tuck said.
