Why is Dreadnought Resources Commencing Drilling at Money Intrusion Ni-Cu-PGE – Mangaroon (Earn-in)?
Dreadnought Resources Limited (“Dreadnought”), in partnership with First Quantum Minerals, has announced that it has commenced RC drilling at the Money Intrusion Ni-Cu-PGE located at Mangaroon Project in Western Australia. With a total of five holes planned for 1,000m, the drilling is targeting five EM conductors interpreted as high tenor, massive and net textured sulphide accumulations.
Two conductors are situated at the Bookathanna North target, with the keel of the Money Intrusion close to the surface, and the other three are located in the High Range target. The program is expected to take one to two weeks and assay and down hole EM results are expected to be available in October 2023.
First Quantum Minerals Fund the Project
The program is fully-funded by First Quantum Minerals under the earn-in agreement. The conductors at the Bookathanna North target are significantly higher than those targeted in 2022, with up to 37,000S conductors in comparison to the 160-200S conductors of the preceding year's drilling. The 2022 drill program intersected Ni-Cu-PGE sulphides in nine holes, interpreted as net textured to brecciated.
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Dreadnought’s Managing Director, Dean Tuck, is enthusiastic about the partnership, and believes the company is well-positioned to explore nickel, copper and gold across its project portfolio. While their resource and study preparation work on the rare earths advances in the background, the company is expected to continue exploring for nickel, copper and gold throughout the remainder of 2023.
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