Dreadnought Resources (ASX:DRE) has strategically expanded its Mangaroon Gold Project in Western Australia through the acquisition of tenement E09/2479. This acquisition complements Dreadnought’s existing tenure and provides additional gold mineralization with limited previous drilling. The tenement covers approximately 40km strike of the Minga Bar shear zone. Historical gold diggings on the tenement, particularly at the Fenceline prospect, have yielded high-grade rock chip samples, including assays of 64.2 g/t Au and 13.0 g/t Au. Despite these promising surface results, the area has seen no further surface sampling or drilling.
Dreadnought plans to commence drilling this month at several targets on existing mining leases (Star of Mangaroon, Popeye, Pritchard’s, Two Peaks and Lead Gold Mine), aiming to increase production and add gold ounces. The acquisition of E09/2479 cost Dreadnought $100,000 in cash and $400,000 in shares, with a 1% net smelter royalty payable to the vendor. Managing Director Dean Tuck emphasized the strategic importance of the acquisition, noting that it expands Dreadnought’s control over highly prospective gold corridors associated with crustal-scale structures, prime locations for gold mineralization. Exploration plans for the new tenement include mapping and surface sampling in April, followed by air core drilling to explore the Minga Bar shear zone for a major gold discovery. The company is transitioning to a self-funded explorer model.
