Further Gold Ground Consolidated at Mangaroon
Released
Released
Announcement PDF
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
ASX ANNOUNCEMENT 25 March 2025
Further Gold Ground Consolidated at Mangaroon (100%)
HIGHLIGHTS
• Dreadnought has further consolidated ground at Mangaroon by acquiring, subject to Settlement, M09/63,
E09/2195 and L09/27 from an unrelated vendor (key terms shown later in this announcement).
• These tenements complement the existing tenure (Figure 2) and provide additional gold mineralisation with
limited previous drilling but high prospectivity.
• Importantly, M09/63 is a mining lease containing the historical McCarthy Workings which complement our other
5 mining leases and has the potential to generate short term production ounces.
• The historical McCarthy Workings are located within sediments of the Edmund Group and have been described
as saddle reefs and stockworks. There is no record of the amount of historical production. However, rock chips
collected from the mullock heaps have confirmed gold mineralisation with significant results including:
MCRK010: 15.1 g/t Au
MCRK007: 3.4 g/t Au
• Drilling is expected to commence this month at several targets on mining leases (Star of Mangaroon, Popeye,
Pritchard’s, Two Peaks and Lead Gold Mine). This program aims to identify and add ounces to production.
Dreadnought Resources Ltd (“Dreadnought”) is pleased to announce it has, subject to
Settlement, acquired tenements strategically located around the 100% owned Mangaroon
Gold Project (“Mangaroon”), in the Gascoyne region of WA.
Dreadnought’s Managing Director, Dean Tuck, commented: “Subject to Settlement, this acquisition has continued to
expand our footprint over highly prospective gold corridors with historical gold occurrences including a sixth mining lease. The
acquisition of this position over the Edmund
Group and major crustal scale structures is
strongly in line with our near-term production
ounces and discovery pillars of the gold strategy
at Mangaroon.
Knowledge gained from exploring McCarthy
Workings will have immediate benefit to
understanding the potential of other regional
analogues at Mangaroon.
We believe that the known high-grade gold
occurrences, areas of historical production with
limited to no drilling, and key lithostructural
settings will deliver compelling targets for
discovery and near-term production ounces.”
Figure 1: Image of Dreadnought’s Frank Murphy
collecting a sample of the gossanous quartz veins
at the McCarthy Workings.
ASX:DRE
Dreadnought Resources Ltd 1
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
M09/63, E09/2195 and L09/27 (100%)
M09/63, E09/2195 and L09/27 immediately adjoin Mangaroon to the SE. The ground is highly prospective for gold
and contains several areas with historical diggings including the McCarthy Workings where there was production but
no records.
The tenements cover ~30km2 of the Edmund Group near Cobra Station which is the location of the original Gascoyne
gold field. The Edmund Group sediments and volcanic sills are edged between the crustal scale Lyons River and
Edmund Faults, the area is also a terminating location of the Minnie Creek Fault.
The McCarthy Workings have been described as saddle reefs and stockworks within a tightly folded anticline within
the Edmund Group Sediments and Narimbunna Dolerite. Rock chips from the mullock heaps returned significant
results including:
MCRK010: 15.1 g/t Au
MCRK007: 3.4 g/t Au
Mapping and sampling of the historical workings described that these workings were developed on near vertical axial
plain veins with minor workings on saddle reefs. A handful of holes were drilled, but despite the observation that
mineralisation was in vertical veins, holes were drilled vertically which are considered ineffective. A few angled holes
do not appear to have been
drilled deep enough to test
under any of the old
workings. Further review and
mapping of the historical
work will be undertaken
prior to drill program design.
The McCarthy Workings and
the wider tenement package
are viewed as under explored
having been in control of
prospectors with small scale
operations for the past 30
years.
Mapping and surface sampling
will occur in April 2025 and
an RC drilling program is
planned for June 2025.
Figure 2: Plan view image showing
the location of the McCarthy
Workings
within
M09/63,
E09/2195 and L09/27 and the
recently announced E09/2479 in
relation to the wider Mangaroon
Project and gold occurrences.
Details of the Transaction
Key Terms:
•
Dreadnought to own 100% of M09/63, E09/2195 and L09/27 upon Settlement.
•
Dreadnought to pay $200,000 at Settlement.
•
Vendor to receive fully paid ordinary shares, escrowed for 12 months, valued at $200,000 based on a 5-day VWAP
at Settlement.
•
1% net smelter royalty payable.
•
Settlement conditions include: Regulatory approvals; the Royalty Deed: and the Parties assigning any Third Party
Agreements.
ASX:DRE
Dreadnought Resources Ltd 2
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
Capital Structure
Quoted Securities
Fully Paid Ordinary Shares
4,159,200,000
Unquoted Securities
Options @ $0.065 expiring 14/07/2025
Options @ $0.094 expiring 9/10/2025
Options @ $0.1575 expiring 16/12/2025
Options @ $0.12 expiring 02/03/2026
Options @ $0.075 expiring 14/06/2026
Options @ $0.0225 expiring 29/11/2028
Options @ $0.024 expiring 28/02/2029
Performance Rights expiring 31/12/2025
Performance Rights expiring 31/12/2026
Performance Rights expiring 31/12/2027
3,500,000
6,000,000
853,098
1,223,151
1,912,500
3,771,176
3,561,666
38,037,500
15,100,000
15,100,000
Dreadnought’s planned transition to self-funded explorer
Star of
Mangaroon Open
Pit
Additional
Resource Drilling
Mar 2025
Quarter
Jun 2025
Quarter
Approvals
Mine, haul, process
agreement(s)
Sep 2025
Quarter
Dec 2025
Quarter
Approvals and commencement of
production
Granted Mining Leases including: Star of Mangaroon extensions,
Popeye, Pritchard’s, Lead, Two Peaks, McCarthy Workings
Gold Exploration
Bordah, High Range, Mingfa Bar
Bordah, High Range,
Minga Bar
Bordah, High Range,
Mingfa Bar
For further information please refer to previous ASX announcements:
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
25 November 2020
15 March 2021
17 May 2021
12 September 2022
7 June 2023
4 September 2023
11 December 2023
13 March 2024
26 July 2024
26 July 2024
1 October 2024
14 October 2024
27 November 2024
28 January 2025
30 January 2025
18 March 2025
Mangaroon Ni-Cu-PGE & Au Project
Exploration Commences at Mangaroon Ni-Cu-PGE & Au Project
Update on Mangaroon Ni-Cu-PGE & Au Project
Star of Mangaroon Acquisition & Consolidation
Mangaroon Gold Review and Further Consolidation
Outstanding Gold Opportunities Along >10km Mangaroon Shear Zone
Thick, High-Grade Gold Including 7m @ 23.0g/t Au
Star of Mangaroon Camp Scale Gold Prospect Expands to ~15km x 10km
Strategic & Prospective Consolidation
Consolidation, Growth & Commercialisation
Shallow, High-Grades at Star of Mangaroon & Popeye
Exceptional Gold Recoveries from Star of Mangaroon
Shallow, High-Grade, 84% Indicated Au Resource
Robust Scoping Study for Star of Mangaroon
Further Consolidation and High-Grade Gold at Mangaroon
High Grade Gold Lode Extended
~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.
ASX:DRE
Dreadnought Resources Ltd 3
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
Snapshot – Mangaroon Gold (100%)
Mangaroon Gold is 100% Owned by Dreadnought
•
Mangaroon covers >5,000kms2 with an initial focus on the gold system situated over the Mangaroon Shear Zone
between the crustal scale Minga Bar and Edmund Faults with multiple phases of intrusions. Numerous historical
workings along the Mangaroon Shear Zone have only seen limited, shallow drilling along ~200m of strike near the
Star of Mangaroon mine. This area also contains the ~12km x 6km Bordah and ~50km long High Range prospects
where limited previous exploration has identified outcropping gold and base metal mineralisation.
Self-Funded Explorer Strategy
•
Dreadnought’s strategy is to transform into a self-funded explorer. This involves a high-grade open pit at the Star
of Mangaroon where funding, development, haulage & processing are outsourced to third parties. This is a
common model in WA given the robust gold price. Once successful, extend this model to Popeye, Two Peaks,
Lead, Pritchard Well, etc. In this way, there is reduced reliance on market funding and internal cashflows are
aimed at making life-changing discoveries.
Consolidation Provides for First Ever Modern Exploration
•
All historical workings and known gold occurrences relate to outcropping mineralisation. There has been minimal
historical and modern exploration due to fractured, small-scale ownership with Dreadnought now undertaking
modern exploration for the first time.
Significant, Step-change, Growth Potential
•
Five historical mines developed on outcropping mineralisation and dozens of gold occurrences along highly
prospective structural corridors.
•
Dreadnought is deploying modern geochemical and geophysical techniques to explore for mineralisation under
shallow cover. These techniques have already generated new prospects with stronger and larger signatures than
the historical mines, including the region’s largest high-grade producer at the Star of Mangaroon mine.
•
Project-wide stream sediment sampling and geophysical surveys have identified additional camp scale prospects
at Bordah and High Range.
Shallow, High-grade Gold
•
The initial Resource at Star of Mangaroon contains shallow, high-grade gold as per Table 1 below:
Table 1: Resource (2g/t Au cut-off grade) - Numbers may not add up due to rounding.
Type
Transition
Fresh
Total
•
Indicated
Tonnes
1,900
42,500
44,400
Au (g/t)
26.9
13.0
13.6
Inferred
Au (Oz)
1,700
17,800
19,500
Tonnes
12,200
12,200
Au (g/t)
9.8
9.8
Total
Au (Oz)
3,900
3,900
Tonnes
1,900
54,700
56,600
Au (g/t)
26.9
12.3
12.8
Au (Oz)
1,700
21,700
23,400
Also, Popeye, located <1km from the Star of Mangaroon, contains significant shallow high-grade gold including:
POPRC001: 3m @ 22.8 g/t Au from 13m POPRC002: 1m @ 1.6 g/t Au, 15.5g/t Ag from 11m
Exceptional Metallurgical Recoveries
•
The region is known for its free gold. Accordingly, metallurgical work at Star of Mangaroon produced exceptional
recoveries from standard gravity and carbon in leach circuits averaging 96.7% combined recovery including an
average 74.4% gravity recovery (ASX 14 Oct 2024).
ASX:DRE
Dreadnought Resources Ltd 4
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
Cautionary Statement
This announcement and information, opinions or conclusions expressed in the course of this announcement contains forecasts and forward-looking
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 the Star of Mangaroon Mineral Resource is based on information compiled by Mr. Paul Payne, a
Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Payne is a full-time employee of Payne Geological Services
Pty Ltd and is a shareholder of Dreadnought Resources Limited. Mr. Payne 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. Payne 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
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 further new information or data that materially affects the information included in the original market
announcements by Dreadnought Resources Limited referenced in this report and in the case of Mineral Resources, Production Targets, forecast financial
information and Ore Reserves, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements
continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the
Competent Person’s findings are presented have not been materially modified from the original market announcements.
RESOURCES SUMMARY
Yin Ironstone Complex – Yin, Yin South, Y2, Sabre Measured, Indicated and Inferred Resources
Table 2: Summary of Yin Resources at 0.20% TREO Cut off.
Measured
Type
Oxide
Fresh
Total
Tonnes
(Mt)
2.47
2.70
5.17
TREO
(%)
1.61
1.09
1.34
Indicated
TREO
(kt)
39.7
29.5
69.3
Tonnes
(Mt)
13.46
7.67
21.13
Inferred
TREO
(%)
1.06
0.95
1.02
TREO
(t)
142.6
72.8
215.4
Tonnes
(Mt)
1.51
2.17
3.68
TREO
(t)
106.4
47.9
154.3
Tonnes
(Mt)
0.26
0.42
0.68
TREO
(%)
0.75
0.75
0.75
Total
TREO
(t)
11.2
16.3
27.6
Tonnes
(Mt)
17.44
12.54
29.98
TREO
(%)
1.11
0.95
1.04
TREO
(t)
4.3
7.3
11.6
Tonnes
(Mt)
7.20
4.43
11.63
TREO
(%)
2.03
1.76
1.93
TREO
(t)
193.6
118.7
312.3
NdPr:TREO
Ratio (%)
29
29
29
Table 3: Summary of Yin Resources at 1.00% TREO Cut off.
Measured
Type
Oxide
Fresh
Total
Tonnes
(Mt)
1.60
1.36
2.96
TREO
(%)
2.22
1.68
1.97
Indicated
TREO
(kt)
35.6
22.8
58.4
Tonnes
(Mt)
5.34
2.65
7.99
Inferred
TREO
(%)
1.99
1.81
1.93
TREO
(%)
1.67
1.72
1.70
Total
TREO
(t)
146.3
78.0
224.3
NdPr:TREO
Ratio (%)
30
29
29
Gifford Creek Carbonatite – Inferred Resource
Table 4: Summary of the Gifford Creek Carbonatite Inferred Resource at various % TREO Cut offs.
Cut-Off (%TREO)
0.90
0.70
0.50
0.30
Resource (Mt)
5.73
10.84
20.55
45.87
TREO
(%)
1.18
1.00
0.80
0.58
NdPr:TREO
(%)
21
21
21
21
Nb2O5
(%)
0.25
0.22
0.15
0.10
P2O5
(%)
3.8
3.5
3.0
2.7
TiO2
(%)
5.4
4.9
3.9
3.0
Sc
(ppm)
92
85
68
52
Contained
TREO (t)
67,500
108,000
164,600
265,300
Contained
Nb2O5 (t)
14,500
23,700
31,100
44,800
Star of Mangaroon – Indicated and Inferred Resources
Table 5: Resource (2g/t Au cut off grade) - Numbers may not add up due to rounding
Type
Transition
Fresh
Total
ASX:DRE
Indicated
Tonnes
1,900
42,500
44,400
Au (g/t)
26.9
13.0
13.6
Inferred
Au (Oz)
1,700
17,800
19,500
Tonnes
12,200
12,200
Au (g/t)
9.8
9.8
Total
Au (Oz)
3,900
3,900
Tonnes
1,900
54,700
56,600
Au (g/t)
26.9
12.3
12.8
Au (Oz)
1,700
21,700
23,400
Dreadnought Resources Ltd 5
Unit 1, 4 Burgay Court,
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+61 8 9473 8345
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Table 6: Significant Rock Chips >0.1g.t Au or 1.0% W (GDA94 z50).
Au
Ag
Sample ID Easting Northing
Sample Description
(g/t) (g/t)
1291025
361928
7350617
13.1
5.3
Waste dump
1291026
361927
7350617
64.2
9.3
Waste dump
BEL23-04
361928
7350617
11.8
Waste dump
BEL23-10
361927
7350617
10.6
Waste dump
Quartz-scheelite vein
W0702
389257
7336065
Quartz-scheelite vein
W0704
389268
7336060
Quartz-scheelite vein
W0706
389268
7336047
Quartz-scheelite vein
9926
389748
7335851
Quartz-scheelite vein
9929
389722
7335874
Quartz-scheelite vein
9930
389821
7335841
Quartz-scheelite vein
9933
389694
7335872
Quartz-scheelite vein
9801
389859
7335850
Quartz-scheelite vein
9830
389675
7335935
Quartz-scheelite vein
9833
389722
7335928
Quartz-scheelite vein
9831
389669
7335976
1.2
Gossanous
quartz vein
MCRK007
436274
7331807
3.4
Gossanous quartz vein
MCRK010
435940
7332009
15.1
-
Pb
(%)
0.3
0.2
-
W
(%)
2.6
1.0
1.5
10.5
3.8
1.0
1.5
1.5
1.0
5.4
0.1
-
Company
Catalyst
Catalyst
Nina
Nina
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
Catalyst
DRE
DRE
Prospect
Fenceline
Nina
McCarthy
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
•
Catalyst and Nina Rock Chips
•
•
•
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 were collected by Nina Minerals (vendors),
Catalyst and their contractors (previous explorers). Rock
chips were submitted to ALS Laboratories in Perth for
determination of gold by fire assay and ICP-MS finish (ALS
Method Au-ICP21), 48 other elements by four acid digest
and ICP-MS finish (ALS Method ME-MS61) and for ore grade
tungsten analysis by lithium borate fusion and XRF finish
(ALS Method ME-XRF12).
Dreadnought 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 gold by fire assay and ICP-MS finish (ALS
Method Au-ICP22) and 48 other elements by four acid
digest and ICP-MS finish (ALS Method ME-MS61).
Soil Sampling
Soil samples were collected by Dreadnought and contractor
(OZEX Exploration Services) personnel on a 800x50m,
400x50m, 200x50m or 100x50m grid across the Project.
Samples were collected by digging a 30x30x10cm pit,
homogenising and then sieving and collection of a dry 200g 177µm sample.
Soils samples were submitted to Labwest (Perth) for Ultra
Fine Fraction (UFF) separation (<2µm) and analysis by Aqua
Regia ICP-MS & ICP-OES for determination of Au and 45
other elements.
Stream Sediment Sampling
Soil samples were collected by Dreadnought and contractor
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Criteria
JORC Code explanation
Commentary
(OZEX Exploration Services) personnel on a ~1 sample per
5 sq km drainage catchment across the Project, and infilled
to ~1 sample per 1 sq km drainage catchment in areas of
interest.
Samples were collected by digging multiple pits across active
drainage lines in areas with the most fine material and then
sieving and collection of a dry 200g -177µm sample.
Stream sediment samples were submitted to Labwest
(Perth) for Ultra Fine Fraction (UFF) separation (<2µm) and
analysis by Aqua Regia ICP-MS & ICP-OES for determination
of Au and 45 other elements.
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 reported
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 reported
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 reported
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
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
•
•
Logging
•
•
•
Sub-sampling
techniques and sample
preparation
•
•
•
•
•
•
Quality of assay data
and laboratory tests
•
•
•
Entire rock chips were submitted to the lab for sample prep
and analysis.
No drilling reported
Assay technique is Fire Assay which is a ‘Total Technique’
for Au. Four acid digest is considered a ‘near total’ technique
for the 48 elements received under ME-MS61. Lithium
borate fusion is considered a “total technique” for tungsten.
Standard laboratory QAQC is undertaken and monitored by
the laboratory and by the company upon assay result
receival. No QAQC was reported for Catalyst and Nina
Rock chips.
Stream Sediment and Soil Samples
Samples were screened in the field to -177µm.
Labwest then takes a sub-sample of <2µm material for
analysis.
The UFF sample preparation was defined following a
Research and Development project conducted under the
direction of CSIRO.
Field duplicates are submitted and perform to internal DRE
standards.
Orientation work as part of CSIRO research and previous
work by Dreadnought Resources indicates the grain size is
appropriate for the material being tested.
ASX:DRE
Dreadnought Resources Ltd 7
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
Criteria
JORC Code explanation
Commentary
Verification of
sampling and assaying
•
Rock Chips
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.
•
•
•
All significant results are revisited with follow up sampling
and mapping.
No prospects on E09/2947 have been visited by
Dreadnought, these will be prioritised in the next field
program.
Geochemical sample coordinates and geological information
is written in field books and coordinates and track data
saved from handheld GPSs used in the field.
Field data is entered into excel spreadsheets and then loaded
into a geological database.
Soil Samples
All significant results are revisited with follow up sampling
(upstream) including occasionally a repeat sample from the
original location.
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.
Geochemical sample coordinates and geological information
is written in field books and coordinates and track data
saved from handheld GPSs used in the field.
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.
The soil and stream sediment sample spacing and
distribution is not sufficient to establish the degree of
geological and grade continuity appropriate for a Mineral
Resource.
At this early stage of exploration, mineralisation thickness’s,
orientation and dips are not known.
•
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.
•
The measures taken to ensure sample security.
No sample security information is known for the Catalyst
and Nina rock chips samples.
•
•
Data spacing and
distribution
•
•
•
Orientation of data in
relation to geological
structure
Sample security
•
Field data is entered into excel spreadsheets and then loaded
into a geological database.
All geochemical samples were collected, bagged, and sealed
by Dreadnought or OZEX staff.
Samples were delivered to Labwest (Perth) by Dreadnought
or its freight contractors.
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
•
The Mangaroon Project consists of 22 granted Exploration
License (E08/3178, E08/3229, E08/3274, E08/3275,
E08/3439, E09/2195, E09/2290, E09/2359, E09/2370,
E09/2384, E09/2405, E09/2422, E09/2433, E09/2448,
E09/2449, E09/2450, E09/2467, E09/2473, E09/2478,
E09/2479, E09/2535, E09/2616), 1 pending Exploration
License (E08/3539) and 6 granted Mining Licenses (M09/63,
M09/91, M09/146, M09/147, M09/174, M09/175).
All tenements are 100% owned by Dreadnought Resources.
E08/3178, E09/2370, E09/2384 and E09/2433 are subject to
a 2% Gross Revenue Royalty held by Beau Resources.
E08/3274, E08/3275, E09/2433, E09/2448, E09/2449,
E09/2450 are subject to a 1% Gross Revenue Royalty held
by Beau Resources.
E09/2359 is subject to a 1% Gross Revenue Royalty held by
Prager Pty Ltd.
E09/2422, E08/*3229 and E08/3539 are subject to a 1%
•
ASX:DRE
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.
Dreadnought Resources Ltd 8
Unit 1, 4 Burgay Court,
Osborne Park, WA 6017
+61 8 9473 8345
info@dreres.com.au
www.dreadnoughtresources.com.au
Criteria
JORC Code explanation
Exploration done by
other parties
•
Acknowledgment and appraisal of exploration by other
parti
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