Dreadnought Resources Limited (ASX:DRE) has received additional high-grade REE assays covering ~2.5kms of ironstone outcrops at Yin. Results indicate that the ironstones are similar to those seen at Yangibana.
Managing Director, Dean Tuck, said to date, 12 REE prospects have been identified, based on wide spaced radiometric anomalies coincident with apparent ironstone outcrops. Eleven of these REE prospects remain to be inspected.
It is encouraging to confirm high-grade REE mineralisation over 2.5kms at the first of twelve prospects. Having confirmed similar mineralogical characteristics to Yangibana, we are now in the process of confirming another key economic driver being similar metallurgical characteristics,” Mr Tuck said.
“A detailed airborne magnetic-radiometric survey will be conducted ahead of a drill programme planned for Yin and the other eleven prospects as required. The metallurgical assessment will focus on the potential for the TREO to be upgraded into a saleable intermediate product in the form of a concentrate.
“In the interim, work in the Kimberley continues with two rigs and a ground geophysical crew operating.”
Rare Earths at Mangaroon (E09/2448, E09/2450, E09/2535: DRE 100%)
The Yangibana ironstones are readily accessible and located 5-20kms from the Cobra – Gifford Creek Road. The ironstones were first targeted by prospectors in 1972 as base metal bearing gossans. The REE potential of the ironstones was first assessed in 1985 and has seen substantial work since Hastings acquired the ironstones north of the Lyons River Fault in 2011.
However, no significant REE exploration was ever undertaken south of the Lyons River Fault, considered to be the southern extent of REE mineralisation.
Yangibana currently has a JORC 2012 Mineral Resource of 27.42Mt @ 0.97% TREO with 0.33% Nd2O3+Pr6O11 and is under construction and development. The high proportion of Nd2O3+Pr6O11, which are used for magnets for electric vehicles and renewable power generation, are an important component of the project economics.
The TREO results and the Nd2O3+Pr6O11 component from Yin, exhibit similar characteristics to Yangibana. To further confirm the similarity to Yangibana, two bulk samples have been collected from outcrop for floatation test work and mineralogical analysis.
The metallurgical assessment is an important first step in determining the potential for the TREO to be upgraded into a saleable intermediate product in the form of a concentrate. Significantly, eleven other REE prospects remain to be tested, with a detailed airborne magneticradiometric survey to refine existing and additional targets. These surveys are to be conducted ahead of a drill program planned for Yin and the other eleven prospects as required.
Ongoing and Upcoming Work Programmes at Mangaroon:
- Completed: Wide spaced 800x50m soil sampling along the Edmund Fault and Minga Bar Faults including close spaced 100x50m target definition soils at Cullen’s Find, White Well and Mitchell’s Find – Assays Pending
- Ongoing: Mapping and rock chipping along the Money Intrusion for Ni-Cu-PGE target generation
- Commenced: Metallurgical test work on REE ironstones at Yin
- July/August: Project wide multi-element stream sediment sampling
- August/September: Petrological and mineralogical analysis of rocks from Yin
- August/September: Fixed Loop EM Surveys along the Money Intrusion for Ni-Cu-PGE target definition
- September/October: Detailed airborne magnetic-radiometric survey over twelve REE prospect