Announcement PDF ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 ASX ANNOUNCEMENT 13 August 2024 Gifford Creek Niobium Drilling Update – Mangaroon (100%) Amended Release Dreadnought Resources Limited (“Dreadnought”) provides an amendment to the ASX release dated 12 August 2024 titled Gifford Creek Niobium Drilling Update with the inclusion of the Resources Summary tables at the rear of the announcement (see page 7) in accordance with JORC clause 26. Dreadnought confirms there have been no other changes made to the original release. ~Ends~ For further information please contact: Dean Tuck Managing Director Dreadnought Resources Limited E: dtuck@dreres.com.au dreadnoughtresources.com.au Jessamyn Lyons Company Secretary Dreadnought Resources Limited E: jlyons@dreres.com.au 1 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 ASX ANNOUNCEMENT 13 August 2024 Gifford Creek Niobium Drilling Update – Mangaroon (100%) *Updated from 12 August 2024 ASX release with same title with the inclusion of the Resources Summary Tables on page 7 HIGHLIGHTS • A total of 19 RC holes (1,795m) have been completed at the newly named Stinger and Rocky Road niobium targets, part of the Gifford Creek Carbonatite (Figure 3). • Initial assay results are expected in August 2024, with planned follow-up drilling once assays are received. • Reconnaissance drilling has extended the Gifford Creek Carbonatite by 5km to the south. An aircore drill program is being planned for testing for oxide niobium enrichment within the extension (Figure 3). • RC drilling of the Tiger Cu-Au-Zn-Ag target has commenced. Drilling of other Mangaroon gold targets is to follow. Dreadnought Resources Limited (“Dreadnought”) is pleased to announce that RC drilling has been completed at the Gifford Creek Carbonatite, part of the Mangaroon project, located in the Gascoyne Region of Western Australia. Dreadnought’s Managing Director, Dean Tuck, commented: “The Gifford Creek Carbonatite has produced some of WA’s best niobium intercepts outside the Arunta Province. With strong niobium identified across multiple zones, we see the potential for Mangaroon to evolve as a multi-commodity critical metals hub within proximity to existing infrastructure with mutual benefit to pastoralists, existing ports and neighboring projects. We look forward to receiving the assays from this program and designing follow up programs after our gold and base metal drilling, which is currently underway.” Figure 1: Photo of the Topdrill RC rig drilling at the Stinger niobium target. dreadnoughtresources.com.au 1 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 SNAPSHOT – MANGAROON CRITICAL MINERALS Mangaroon is 100% Owned • 100% owned Mangaroon confirmed as a globally significant critical minerals complex with proven potential for rare earths (REE), niobium (Nb), scandium (Sc), titanium (Ti) and phosphorous (P). Genuine Scale Potential Already at the Yin Ironstones • Independent Yin Resource of 29.98Mt @ 1.04% TREO (ASX 30 Nov 2023) covers only ~4.6km of ~43km of strike - 87% Measured and Indicated. • Yin contains a higher NdPr to total rare earth oxides (“NdPr:TREO”) ratio than most REE deposits and >50% higher than the global average. Significant, Growth and Multiple Critical Minerals Potential at the Gifford Creek Carbonatite • The Gifford Creek Carbonatite and associated Ironstones is one of the largest carbonatite complexes in the world. • Wide spaced drilling over <25% of the ~17km long Gifford Creek Carbonatite has already identified 4 zones of mineralisation containing rare earths, niobium, scandium, phosphorous and titanium. This makes for a potential multi-critical mineral mix of co-products with significant intercepts including: CBRC115: 102m @ 1.1% TREO from 3m, including 29m @ 2.1% TREO from 76m CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m CBRC148: 43m @ 11.9% P2O5 from 87m, including 24m @ 14.5% P2O5 from 105m to EOH CBRC138: 12m @ 319ppm Sc from 48m and CBRC125: 10m @ 270ppm Sc from 18m CBRC086: 72m @ 8.6% TiO2 from 12m, including 6m @ 12.8% TiO2 from 66m Positive Metallurgy Results • Metallurgical test work from Yin has performed well, achieving recoveries ranging from 85.9% to 92.8% at a concentrate grade of 10.76% to 15.31% Nd2O3+Pr6O11. • REE at Yin is predominantly hosted in monazite which is amenable to commercial processing. • ANSTO, a world-leader in the processing of critical and strategic metals, has demonstrated that the Yin monazite concentrate has excellent metallurgical recoveries using a conventional low-temperature acid bake/leach process and produces a high quality MREC containing 60.7% TREO (16.3% Nd2O3 and 4.4% Pr6O11) with ~94% recovery of Nd and Pr. • Recent mineralogical work at the Gifford Creek Carbonatite has confirmed that the dominant niobium mineral is pyrochlore, which is a high niobium mineral (>50%) from which ~95% of global niobium is produced. Global Strategic Imperative Driving Critical Minerals Growth • Supply chain security and low carbon transition are imperatives against a backdrop of heightened geopolitical tension. • Niobium is a critical mineral whose primary use is in HSLA (high strength, low alloy) steel with major applications in renewables, infrastructure and vehicles. The addition of a small amount of niobium increases the strength of steel whilst decreasing the weight required by almost 30%. • In addition to traditional applications in the steel industry, niobium-based technology breakthroughs are being experienced in the battery sector, where the adoption of niobium-based materials is reducing electric vehicle charge times to a mere 5 minutes. dreadnoughtresources.com.au 2 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Overview of Drilling Program: Nb-REE Gifford Creek Carbonatite The Gifford Creek Carbonatite and the Yin Ironstones together form one of the largest alkali-carbonatite complexes in the world (Figure 2). Carbonatite intrusions are known globally to host several different commodities including rare earths, niobium, phosphate, titanium and scandium, often as separate deposits within the same intrusion. Examples of this include Mt Weld in Australia, Ngualla in Tanzania, Araxa in Brazil and Bayan Obo in China. Since the initial discovery of the Yin Ironstones and the Gifford Creek Carbonatite in 2021, Dreadnought’s focus has been on rare earths. To date only ~25% of the Gifford Creek Carbonatite has been tested with wide spaced first pass drilling. Importantly, 3 zones of mineralisation have been confirmed (C3, Stinger and Rocky Road) with significant niobium intercepts including: CBRC085: 48m @ 0.8% Nb2O5 from 30m, including 36m @ 1.0% Nb2O5 from 39m CBRC111: 48m @ 0.7% Nb2O5 from 63m, including 9m @ 1.4% Nb2O5 from 72m CBRC125: 59m @ 0.6% Nb2O5 from 63m, including 19m @ 1.0% Nb2O5 from 99m CBRC110: 39m @ 0.6% Nb2O5 from 66m, including 3m @ 1.1% Nb2O5 from 81m CBRC138: 57m @ 0.6% Nb2O5 from 45m, including 3m @ 1.4% Nb2O5 from 90m Recent mineralogical work has confirmed the presence of coarse grained (>0.30mm) pyrochlore from both weathered and fresh magnesio-carbonatite. Figure 2: Location of significant niobium mineralisation within the limited extent of current drilling at the Gifford Creek Carbonatite. Inset image shows globally significant carbonatite complexes at Niobec, Araxa, Catalao II and Luni at similar scale highlighting the footprints of niobium mineralisation. dreadnoughtresources.com.au 3 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 The recent RC drilling program was niobium focused and designed to: - Test regional geophysical targets believed to be zones of deeper weathering or different phases of carbonatite; - Test for extensions of the Stinger target which contains thick intervals of pyrochlore Nb mineralisation; and - Provide further material for mineralogical and metallurgical characterisation. A total of 19 RC holes (1,795m) have been drilled confirming and extending enriched carbonatite at the newly named Stinger and Rocky Road niobium targets. Stinger and Rocky Road are both defined by niobium enrichment in saprolite and fresh carbonatite over areas of ~2,000m x 350m (Stinger) and ~1,000 x 200m (Rocky Road). Fresh niobium mineralisation is interpreted to be hosted in a dyke like geometry with a southwest dip within the Gifford Creek Carbonatite, similar to Catalao II Complex in Brasil. Subject to assays, follow up drilling at these targets will consist of fence line drilling to test for oxide mineralisation and the source of the fresh mineralisation. Initial assays are expected in August 2024. In addition, samples will be sent for mineralogical work. This drill program is supported by a co-funded drilling grant of up to $180,000 under the Geological Survey of Western Australia’s merit-based Exploration Incentive Scheme (“EIS”) and a drill-for-equity agreement with Topdrill. Reconnaissance drilling of geophysical targets has extended the Gifford Creek Carbonatite by 5km to the south. An aircore drill program is being planned to test for oxide niobium enrichment within the extension. Figure 3 (above): Plan view of the Gifford Creek Carbonatite over gravity and colored gravity images showing the Stinger and Rocky Road niobium targets in relation to previous drilling and proposed niobium focused drilling (once assays are received) as well as ~5km x 1km exploration space. Figure 4 (right): Cross section through the Stinger niobium target showing the location of previous mineralised intercepts. Also shown is recent RC drilling in relation to the saprolite hosted mineralisation and conceptual fresh niobium enriched carbonatite dykes. dreadnoughtresources.com.au 4 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Tiger Cu-Au-Zn-Ag Prospect (100%) Tiger is defined by a ~500m long subcropping gossanous horizon within a coincident ~900m x 300m Cu-Au-Zn-Ag and pathfinder-in-soil anomaly. Tiger contains some of the strongest Cu-Au-Zn-Ag rock chips and pathfinder anomalism defined to date at Mangaroon. The Cu-Au-Zn-Ag gossans appear to have formed after massive sulphides and given the strong pathfinder association, are considered to be related to VMS style mineralisation. RC drilling (8 holes) has been designed to test the ~500m strike of subcropping mineralisation including 5 shallow holes and three deeper holes, which will also provide a platform for down hole EM (“DHEM”) surveys. Drilling has commenced and is expected to be completed in August 2024. DHEM surveys will commence following the program. This drilling program is supported by an EIS grant of up to $150,000. Results of this drilling and geophysical program are expected in September/October 2024. Figure 5: Plan view image of Tiger showing the location of planned drilling in relation to rock chip assays along the ~500m of mapped gossanous horizons in relation to the strong Cu-Au-Zn-Ag soil anomalism which indicate the horizons extend along strike for >500m. dreadnoughtresources.com.au 5 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 For further information please refer to previous ASX announcements: • 12 September 2022 Star of Mangaroon Acquisition & Consolidation • 17 October 2022 Mineralised Carbonatites Discovered at C3 and C4 • 23 November 2022 Multiple, Large Scale, REE-Nb-Ti-P Carbonatites • 28 December 2022 Initial High-Grade, Independent Resource over 3kms at Yin • 24 January 2023 Carbonatite Discovery Shaping up as Regional Rare Earth Source • 3 April 2023 Carbonatites Deliver Thick, Near Surface REE Results • 10 July 2023 High Grade Rare Earth & Niobium Zones at C3 & C5 • 17 July 2023 High Grade Rare Earth & Niobium Zones at C3 & C5 • 7 August 2023 Rare Earth Ironstone and Carbonatite Drilling Update • 28 August 2023 Initial, Independent REE-Nb-P-Ti-Sc Resource at C3 • 2 October 2023 Mangaroon Carbonatite now >17km – Higher Grade Zones Fingerprinted • 6 December 2023 Gifford Creek REE-Nb-P-Ti-Sc Carbonatite Drilling Update • 11 December 2023 Thick, High-Grade Gold Including 7m @ 23.0g/t Au • 6 June 2024 Gifford Creek REE-Nb Carbonatite Update • 27 May 2024 High Grade Cu-Zn-Ag-Au Gossans at Tiger • 18 June 2024 Tiger Cu-Au-Zn-Ag Gossan Confirmed Over ~500m UPCOMING NEWSFLOW August: Commencement of RC drilling at Mangaroon Au (100%) August: Results of further target generation and definition work at Mangaroon Au (100%) August: Results from Nb-REE at the Gifford Creek Carbonatite (Mangaroon 100%) August: Presenting at the Australian Gold Conference 2024 in Sydney August/September: Results from EIS co-funded IP surveys at Tarraji-Yampi (80%/100%) August/September: Results from drilling at Tarraji-Yampi (80/100%) September: Results from Nb-REE at the Gifford Creek Carbonatite (Mangaroon 100%) September: Annual Financial Report September/October: Results from Au and Cu-Au-Zn-Ag drilling at Mangaroon (100%) October: Quarterly Activities and Cashflow Report October/November: Results from Nb-REE at the Gifford Creek Carbonatite (Mangaroon 100%) November: Annual General Meeting to be held on 28 November 2024 ~Ends~ For further information please contact: Dean Tuck Managing Director Dreadnought Resources Limited E: dtuck@dreres.com.au Jessamyn Lyons Company Secretary Dreadnought Resources Limited E: jlyons@dreres.com.au This announcement is authorised for release to the ASX by the Board of Dreadnought. dreadnoughtresources.com.au 6 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Cautionary Statement This announcement and information, opinions or conclusions expressed in the course of this announcement contains forecasts and forwardlooking information. Such forecasts, projections and information are not a guarantee of future performance, involve unknown risks and uncertainties. Actual results and developments will almost certainly differ materially from those expressed or implied. There are a number of risks, both specific to Dreadnought, and of a general nature which may affect the future operating and financial performance of Dreadnought, and the value of an investment in Dreadnought including and not limited to title risk, renewal risk, economic conditions, stock market fluctuations, commodity demand and price movements, timing of access to infrastructure, timing of environmental approvals, regulatory risks, operational risks, reliance on key personnel, reserve estimations, native title risks, cultural heritage risks, foreign currency fluctuations, and mining development, construction and commissioning risk. Competent Person’s Statement – Mineral Resources The information in this announcement that relates to Mineral Resources is based on information compiled by Mr. Lynn Widenbar, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr. Widenbar is a full-time employee of Widenbar and Associates Pty Ltd. Mr. Widenbar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves’. Mr. Widenbar consents to the inclusion in the announcement of the matters based on his information in the form and context that the information appears. Competent Person’s Statement – Exploration Results and Exploration Targets The information in this announcement that relates to geology, exploration results and planning, and exploration targets 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 announcement 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. RESOURCES SUMMARY Yin Ironstone Complex – Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources Table 1: Summary of Yin Resources at 0.20% TREO Cut-off. Resource Classification Geology Measured Measured Measured Indicated Indicated Indicated Inferred Inferred Inferred Total Total Oxide Fresh Subtotal Oxide Fresh Subtotal Oxide Fresh Subtotal Oxide Fresh Resource (Mt) TREO (%) Nd2O3+Pr6O11 (kg/t) NdPr:TREO Ratio (%) Contained TREO (t) Contained Nd2O3+Pr6O11 (t) 2.47 2.70 5.17 13.46 7.67 21.13 1.51 2.17 3.68 17.44 12.54 29.98 1.61 1.09 1.34 1.06 0.95 1.02 0.75 0.75 0.75 1.11 0.95 1.04 4.6 3.0 3.8 3.1 2.8 3.0 1.9 2.1 2.0 3.2 2.7 2.9 29 27 28 29 29 29 25 28 27 29 29 29 39,700 29,500 69,300 142,600 72,800 215,400 11,200 16,300 27,600 193,600 118,700 312,300 11,400 8,100 19,500 41,000 21,300 62,300 2,800 4,500 7,300 55,300 33,900 89,300 TOTAL Gifford Creek Carbonatite – Inferred Resource Table 2: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut-offs. Cut-Off (%TREO) Resource (Mt) TREO (%) NdPr:TREO (%) Nb2O5 (%) P2O5 (%) TiO2 (%) Sc (ppm) Contained TREO (t) Contained Nb2O5 (t) 0.90 0.70 0.50 0.30 5.73 10.84 20.55 45.87 1.18 1.00 0.80 0.58 21 21 21 21 0.25 0.22 0.15 0.10 3.8 3.5 3.0 2.7 5.4 4.9 3.9 3.0 92 85 68 52 67,500 108,000 164,600 265,300 14,500 23,700 31,100 44,800 *This release has been updated from 12 August 2024 ASX release with same title with the only change being the inclusion of the Resources Summary Tables above dreadnoughtresources.com.au 7 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 INVESTMENT HIGHLIGHTS Kimberley Ni-Cu-Au Project (80/100%) The project is located only 85kms from Derby in the West Kimberley region of WA and was locked up as a Defence Reserve since 1978. The project has outcropping mineralisation and historical workings which have seen no modern exploration. Results to date indicate that there may be a related, large scale, Proterozoic Cu-Au VMS system at Tarraji-Yampi, similar to DeGrussa and Monty in the Bryah Basin. Mangaroon Ni-Cu-Co-3PGE, Au & REE Project (100%) Mangaroon covers ~5,300kms2 and is located 250kms south-east of Exmouth in the Gascoyne Region of WA. At the Money Intrusion, Ni-Cu-Co-3PGE has been identified. Dreadnought also has areas of outcropping high-grade gold including the historic Star of Mangaroon and Diamond gold mines. In addition, Mangaroon has emerged as a globally significant, rapidly growing, potential source of critical minerals. Highlights include: • An Exploration Target estimated for the top 150m of ~40km of the Yin REE Ironstone Complex (ASX 13 Feb 2023). • An independent Resource for Yin Ironstones Complex of 29.98Mt @ 1.04% TREO over only ~4.6kms – including a Measured and Indicated Resource of 26.3Mt @ 1.04% TREO (ASX 30 Nov 2023). • Regional source of rare earths at the Gifford Creek Carbonatite totaling ~17kms x ~1km (ASX 7 Aug 2023). • A large, independent initial Resource of 10.84Mt @ 1.00% TREO at the Gifford Creek Carbonatites, containing a range of critical minerals including rare earths, niobium, phosphate, titanium and scandium (ASX 28 Aug 2023). Central Yilgarn Gold, Base Metals, Critical Minerals & Iron Ore Project (100%) Central Yilgarn is located ~190km northwest of Kalgoorlie in the Yilgarn Craton. The project comprises ~1,400kms2 covering ~150km of strike along the majority of the Illaara, Yerilgee, South Elvire and Evanston greenstone belts. Central Yilgarn is prospective for typical Archean mesothermal lode gold deposits, VMS base metals, komatiitehosted nickel sulphides and critical metals including Lithium-Cesium-Tantalum. Prior to consolidation by Dreadnought, the Central Yilgarn was predominantly held by iron ore explorers and remains highly prospective for iron ore. Bresnahan HREE-Au-U Project (100%) Bresnahan is located ~125km southwest of Newman in the Ashburton Basin. The project comprises ~3,700kms2 covering over 200kms strike along the Bresnahan Basin / Wyloo Group unconformity. Bresnahan is prospective for unconformity related heavy rare earth (“HREE”) deposits similar to Browns Range HREE deposits, unconformity uranium (“U”) deposits and mesothermal lode gold similar to Paulsens Au-Ag-Sb deposits along strike. Prior to consolidation by Dreadnought, the Bresnahan Basin had been successfully explored for unconformity uranium with limited exploration for mesothermal gold. Bresnahan is a first mover opportunity to explore for unconformity HREE. dreadnoughtresources.com.au 8 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Hole ID CBRC174 CBRC175 CBRC176 CBRC177 CBRC178 CBRC179 CBRC180 CBRC181 CBRC182 CBRC183 CBRC184 CBRC185 CBRC186 CBRC187 CBRC188 CBRC189 CBRC190 CBRC191 CBRC192 Easting 416930 416902 416874 416774 417058 418475 420351 421512 420500 421442 419313 418723 418842 419133 418903 417057 414130 413569 413164 Table 1: Drill Collar Data (GDA94 MGAz50) Northing RL Dip Azimuth 7347706 311 -60 31 7347650 309 -60 32 7347602 308 -60 29 7347762 311 -90 0 7347614 313 -90 0 7346758 315 -90 0 7345128 300 -90 0 7344421 300 -90 0 7344289 300 -90 0 7343434 300 -90 0 7345338 300 -90 0 7346770 310 -90 0 7346427 314 -90 0 7346357 314 -90 0 7346052 315 -90 0 7347608 314 -90 0 7349350 309 -90 0 7349755 311 -90 0 7350471 307 -90 0 EOH 96 126 108 72 55 120 108 96 108 90 90 102 66 90 114 108 72 72 102 Type RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC Prospect GCC JORC Code, 2012 Edition – Table 1 Report Template Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Commentary Sampling techniques • Reverse Circulation (RC) drilling was undertaken to produce samples for assaying. • • • 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. Laboratory Analysis Two sampling techniques were utilised for this program, 1m metre splits directly from the rig sampling system for each metre and 3m composite sampling from spoil piles. Samples submitted to the laboratory were determined by the site geologist. 1m Splits From every metre drilled a 2-3kg sample (split) was subsampled into a calico bag via a Metzke cone splitter from each metre of drilling. 3m Composites All remaining spoil from the sampling system was collected in buckets from the sampling system and neatly deposited in rows adjacent to the rig. An aluminium scoop was used to then sub-sample each spoil pile to create a 2-3kg 3m composite sample in a calico bag. A pXRF is used on site to determine mineralised samples. Mineralised intervals have the 1m split collected, while unmineralised samples have 3m composites collected. All samples are submitted to either ALS Laboratories in Perth for determination of Rare Earth Oxides by Lithium Borate Fusion XRF (ALS Method ME-XRF30) or Intertek Minerals in Perth for determination of Rare Earth Oxides by Lithium Borate Fusion XRF (Intertek Method FB6/OM45). All 1m samples are also submitted for 48 multi-elements via 4 acid digestion with MS/ICP finish (ALS Code ME-MS61 or Intertek Code 4A/MS48) to assist with lithological interpretation. Diamond Core Core is orientated for structural and geotechnical logging where possible. In orientated core, half core is submitted to the lab for analysis in intervals ranging from 20cm to 1m dreadnoughtresources.com.au 9 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Criteria JORC Code explanation Commentary depending on the geological context. If core is orientated, then the half core is cut so as to preserve the orientation line with the same side of the core submitted down the hole. All samples are submitted to ALS Laboratories in Perth for determination of Rare Earth Oxides by Lithium Borate Fusion XRF (ALS Method MEXRF30). Select samples are also submitted for 48 multielements via 4 acid digestion with MS/ICP finish (ALS Code ME-MS61) to assist with lithological interpretation. QAQC samples consisting of duplicates, blanks and CRM’s (OREAS Standards) were inserted through the program at a rate of 1:50 samples. Duplicate samples are submitted as quarter core or as a B-bag from the Metzke’s cone splitter. Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.). RC Drilling Topdrill undertook the program utilising a truck mounted Schramm T685WS drill rig with additional air from an auxiliary compressor and booster. Bit size was 5¾”. Diamond Drilling Diamond drilling was undertaken by Hagstrom Drilling with a truck-mounted low impact diamond drill rig. Drilling is either HQ to end of hole or initially HQ and dropping to NQ once the hole is cased off for deeper drill holes. Core is orientated using a Reflex Sprint gyro and 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 mineralised zones. Best practice sampling procedure included: suitable usage of dust suppression, suitable shroud, lifting off bottom between each metre, cleaning of sampling equipment, ensuring a dry sample and suitable supervision by the supervising geologist to ensure good sample quality. At this stage, no known bias occurs between sample recovery and grade. 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. 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. At this stage, no known bias occurs between sample recovery and grade. RC Drilling RC chips were logged by a qualified geologist with sufficient experience in this geological terrane and relevant styles of mineralisation using an industry standard logging system which could eventually be utilised within a Mineral Resource Estimation. Lithology, mineralisation, alteration, veining, weathering and texture were all recorded digitally. Chips were washed each metre and stored in chip trays for preservation and future reference. RC pulp material is also analysed on the rig by pXRF, scintillometer and magnetic susceptibility meter to assist with logging and the identification of mineralisation. Logging is qualitative, quantitative or semi-quantitative in nature. Diamond Drilling Diamond core is logged under supervision of a Senior Geologist with sufficient experience in this geological terrane and relevant styles of mineralisation using an industry standard logging system which could eventually be utilised dreadnoughtresources.com.au 10 ASX:DRE +61 (08) 9473 8345 info@dreres.com.au Unit 1, 4 Burgay Court Osborne Park WA 6017 ABN 40 119 031 864 Criteria JORC Code explanation Commentary within a Mineral Resource Estimation. Lithology, mineralisation, alteration, veining, weathering and structure are recorded digitally. DD Logging is qualitative, quantitative or semi-quantitative in nature. Sub-sampling techniques and sample preparation • • • • • • If core, whether cut or sawn