Why is Dreadnought Resources Mangaroon Expansion Important for Gold Mining in Western Australia?
Star of Mangaroon Gold Mine Expansion: A New Era of Prosperity in Western Australia's Gascoyne Region
A Gold Rush Revived: High-Grade Discoveries at Mangaroon
January 22, 2024, marks a significant milestone for Dreadnought Resources Limited, as they announce exciting results from their recent drilling programs at the Star of Mangaroon, a part of the 100% owned Mangaroon Project in Western Australia's Gascoyne Region. The project has unearthed high-grade gold intercepts, signaling a potential gold rush revival in the area.
Unearthing Riches: Drilling Results Unveiled
The drilling programs, consisting of shallow RC (Reverse Circulation) and diamond drilling, have yielded remarkable results. Key intercepts include:
SOMDD001: 1. 4m @ 87. 9g/t Au from 16. 0m
SOMDD002: 2.
Story Continues.. after this ad because we need some dollarydoos
5m @ 3. 3 g/t Au from 68. 2m
SOMRC008: 2. 0m @ 4. 8 g/t Au from 68m
SOMRC007: 1. 0 @ 4. 0 g/t from 19m
These results build upon previously reported high-grade gold intercepts from the first 10 holes of the RC program, indicating a consistent pattern of rich gold deposits in the area.
Extending the Golden Thread: Exploratory Success
The findings at Star of Mangaroon are particularly noteworthy given the historical context. The mine, discovered in 1956, was a significant gold producer in the Gascoyne until the early 1980s. The new drilling results have not only confirmed but extended the known high-grade gold potential in this region.
The Mangaroon Shear Zone: A Gold-Bearing Corridor
The Star of Mangaroon is part of the larger Mangaroon Shear Zone, a structure linking the Minga Bar and Edmund Faults, spanning over 10km. Despite historical mining activities, this zone has seen limited exploration. With Dreadnought Resources' consolidated ownership and systematic exploration using modern techniques, the full potential of this gold-bearing corridor is beginning to surface.
Modern Exploration: Bringing New Prospects to Light
Dreadnought’s approach to exploration, combining modern geochemical and geophysical techniques, has identified new prospects that exhibit stronger and larger signatures than historical mines. This approach underscores the vast, untapped potential of the region, which Dreadnought is now poised to explore.
Strategic Importance of Gold: A Safe Haven in Uncertain Times
The resurgence of gold mining activities at Mangaroon comes at a time when gold's value as a strategic, global asset is increasingly recognized. Amidst economic uncertainties, geopolitical tensions, and banking sector instability, gold continues to be a sought-after safe haven, with strong demand noted in gold ETFs and central bank buying of physical gold.
The Next Steps: An Exciting Future Ahead
With the promising results from the first pass drilling, Dreadnought Resources Limited's Managing Director, Dean Tuck, has expressed optimism about the upcoming drilling program set to commence in March 2024. The focus will be on further exploring the Mangaroon Shear Zone, with the potential for uncovering additional high-grade gold lodes.
A Golden Opportunity for Western Australia
The Star of Mangaroon's extension represents not just a successful exploration venture but also a beacon of economic hope for the Gascoyne Region. With Dreadnought Resources at the helm, employing advanced exploration techniques and driven by a vision of uncovering the full potential of this historic gold mine, the future looks bright for this once-forgotten golden treasure of Western Australia.
Promote your business on our growing investor platform: Advertise With Us
Buffet indicator is showing some wild times ahead perhaps, combine that with Berkshires record high cash hoard of 30%... chart via barchart.com / Longtermtrends
Looks like we're going through something, but who would have thought with all these tarrifs, inflation and trade wars going on
Where does this end up long term with small stocks suffering white giant caps are taking all the coin?
🔺 Student Loan Delinquencies Hit Record 12.9%...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
The spike in red reflects financial strain returning fast. Credit card delinquencies are rising too, hinting that lower-income consumers might be nearing a breaking point. What's going on...
📈 Top 10 Stock Lists
Join the conversation
📈 Top Daily Gainers
📈 YTD Gainers
📉 Top Daily Losers
💰 High Dividend Yields
📅 Best Performers – November
✅ Seasonal Standouts – November
🔮 Seasonal Standouts – December