High-Grade Gold Extensions Boost Dreadnought Resources’ Mangaroon Exploration

Star of Mangaroon Gold Shines Brighter with High-Grade Extensions

Dreadnought Resources (ASX: DRE) has announced promising results from their recent drilling program at the Mangaroon Gold Project in Western Australia's Gascoyne region, revealing significant shallow gold extensions that could boost the existing resource.

High-Grade Gold Extends Beyond Current Resource

Recent reverse circulation (RC) drilling at the Star of Mangaroon has successfully extended the known gold mineralisation both north and south of the current resource area, with standout results including:

• 6 metres at 22.9 g/t gold from just 12 metres depth
• 2 metres at 4.0 g/t gold from 9 metres depth

These shallow, high-grade intersections were specifically targeted to identify near-surface ounces outside the November 2024 Resource and January 2025 Scoping Study parameters. Importantly, these results are expected to increase the overall resource when factored into future calculations.

"The first drill program of the year has extended shallow mineralisation at the Star of Mangaroon and confirmed nuggety gold mineralisation elsewhere," said Dreadnought's Managing Director, Dean Tuck. "It was encouraging in that of the holes drilled, 20 intersected mineralised or 'live' structures."

Historic Heap Leach Adds Potential Early Production Material

In a strategic move, Dreadnought also conducted auger drilling on a historic heap leach pad located within the planned open pit footprint. The approximately 30m x 30m x 1.5m heap leach yielded significant gold values:

• 1.5m at 3.3 g/t gold
• 1.5m at 2.2 g/t gold
• 1.5m at 3.7 g/t gold

This material could potentially be included in early shipments and processing, adding value to the initial project economics.

Understanding "Nuggety Gold" Systems

A key characteristic of the Mangaroon gold system is its "nuggety" nature, particularly evident at the Pritchard's prospect. This geological phenomenon refers to the uneven distribution of gold particles within the mineralised zone, creating high variability in assay results even within the same metre of drilling.

For example, multiple samples taken from the same metre at Pritchard's showed gold values ranging from 0.21 g/t to 34.46 g/t, with an average of 4.86 g/t gold. This variance highlights the challenge of accurately quantifying gold content in such deposits.

To address this, Dreadnought is trialling Leachwell analysis, which can use larger quantities of sample material compared to conventional photon or fire assay methods. If successful, future drilling will incorporate larger primary split samples to produce more representative results.

Accelerating Exploration Strategy

Dreadnought is implementing its "Finding More Gold, Faster Strategy" with two drilling rigs already mobilising to site. The upcoming program will include:

1. Follow-up drilling at Pritchard's, Popeye, and Star of Mangaroon
2. First-ever discovery drilling at Steve's Reward and Inevitable prospects

This aggressive exploration in Dreadnought Resources Ltd aligns with Dreadnought's roadmap toward becoming a self-funded explorer, with plans to develop a high-grade open pit at Star of Mangaroon where funding, development, haulage, and processing would be outsourced to third parties.

Project Timeline Accelerating

Dreadnought has outlined a clear path to potential production:

Investment Thesis: Why Dreadnought Resources Matters

Dreadnought represents an appealing investment opportunity for several key reasons:

1. Shallow, High-Grade Gold Resource: The Star of Mangaroon already contains an indicated and inferred resource of 56,600 tonnes at 12.8 g/t gold for 23,400 ounces, with 84% in the higher-confidence indicated category.

2. Exceptional Metallurgy: Metallurgical testing has demonstrated outstanding gold recoveries averaging 96.7%, including 74.4% gravity recovery, indicating simple processing requirements.

3. Near-Term Production Potential: The company's timeline suggests possible production commencement within approximately 6-9 months.

4. Self-Funded Exploration Model: By generating cash flow from smaller high-grade deposits, Dreadnought aims to fund further exploration without continuous share dilution.

5. Strategic Partnership: Black Cat Syndicate has invested $2 million in Dreadnought and secured first right to negotiate on development, providing a potential pathway to production.

The Mangaroon Gold Project has multiple prospects across 130km² of mining and exploration leases, with the recent consolidation of the area allowing for the first comprehensive modern exploration program. With additional targets at Steve's Reward, Inevitable, and other prospects along the mineralised corridor, Dreadnought appears well-positioned to potentially expand its gold inventory significantly in 2025.

For investors seeking exposure to a gold exploration company with near-term production potential and significant discovery upside, Dreadnought Resources presents a compelling opportunity to watch closely through the remainder of 2025.

Ready to Discover the Next ASX Gold Opportunity?

Explore how Dreadnought Resources' high-grade gold extensions at Mangaroon could transform this emerging producer. For detailed investor information, project timelines and to stay updated on DRE's pathway to potential production in 2025-26, visit the Dreadnought investor centre today.