Major Gold Discovery Potential at Dreadnought's Steve's Reward
Dreadnought Resources (ASX:DRE) has unveiled a significant gold discovery at Steve's Reward within its 100% owned Mangaroon Gold Project in Western Australia's Gascoyne region, marking a potential breakthrough in the company's "Finding More Gold, Faster" strategy.
Extensive Gold Anomaly Discovered
Recent surface geochemical surveys at Steve's Reward have identified an impressive gold-in-soil anomaly measuring over 2,600 meters by 600 meters that remains open along strike in both directions. This discovery dramatically expands the previously known mineralised zone from approximately 300m x 200m to its current extensive dimensions.
Most notably, the strongest portion of this gold anomaly is located approximately 500 meters northwest of recent drilling areas and includes one of the highest gold-in-soil values ever recorded at Mangaroon – an exceptional 770 parts per billion (ppb) gold.
| Steve's Reward Highlights |
|---|
| Gold-in-soil anomaly size: >2,600m x 600m |
| Highest soil sample: 770 ppb Au |
| Rock chip samples: Up to 155.5 g/t Au |
| Status: Never previously drilled or mined |
"Exploring for the next major gold discovery at Mangaroon is a key pillar of the Finding More Gold, Faster strategy. As part of that, target generation and definition work like surface geochemical surveys are critical to building compelling drill targets. We are excited by the scale and grade of these gold-in-soil anomalies at Steve's Reward and eagerly await assays from the recent lode drilling there." – Dean Tuck, Managing Director
High-Grade Rock Chips Confirm Potential
Recent outcrop sampling at Steve's Reward has yielded exceptional high-grade results from sub-cropping gold lodes, including:
- 155.5 g/t Au (SRRK002)
- 100.5 g/t Au (SRRK006)
- 49.5 g/t Au (SRRK008)
- 30.3 g/t Au (JRK002)
These results confirm the presence of high-grade gold mineralisation in an area that, remarkably, has never been previously drilled or mined.
Understanding Gold-in-Soil Anomalies
Gold-in-soil anomalies are a critical exploration tool in the search for economic gold deposits. When gold-bearing rock weathers, minute gold particles can be dispersed in the soil above and surrounding mineralised zones. Geochemical surveys measuring these trace amounts can reveal patterns that point to deeper mineralisation.
The size, strength, and coherence of a gold anomaly are key indicators of potential deposit significance. The extensive 2,600m x 600m anomaly at Steve's Reward is particularly promising due to:
- Its substantial size compared to the original known zone
- The high-grade values (up to 770 ppb Au)
- Its open-ended nature, suggesting further potential along strike
The anomaly's strength and size have made it one of the most significant at Mangaroon to date, reinforcing its exploration priority status.
Strategic Location Within Mangaroon Gold Project
Steve's Reward is situated in a geologically favourable setting, hosted by metasediments, volcanics and chemical formations of the 2.4 billion-year-old Leake Spring Metamorphics. The prospect lies near the junction of two significant structural features – the Magweera and Jimmy Well shear zones, which are splays off the crustal-scale Minga Bar Fault.
This geological setting creates ideal conditions for orogenic gold mineralisation, where major structural splays and host rocks with significant chemical and rheological contrasts can serve as conduits and traps for gold-bearing fluids.
Drilling Progress and Next Steps
Dreadnought has recently completed 15 reverse circulation (RC) drill holes at Steve's Reward, with assay results expected in July 2025. Additional exploration activities include:
- Ongoing soil and stream sediment surveys
- Completion of a detailed airborne magnetic survey to refine structural interpretations
- RC and diamond drilling continuing at other Mangaroon targets, including Star of Mangaroon and Stinger
Looking forward, Dreadnought has outlined a comprehensive work plan that balances focused exploration with potential near-term production opportunities:
| Upcoming Milestones | Timeline |
|---|---|
| Steve's Reward and Inevitable drilling results | July 2025 |
| Popeye and Star of Mangaroon drilling results | August 2025 |
| Completion of current Mangaroon drilling | August 2025 |
| Final drill results from Star of Mangaroon | September 2025 |
| Star of Mangaroon Processing Agreement update | September Quarter 2025 |
| Recommencement of gold drilling at Mangaroon | September 2025 |
Why Investors Should Follow Dreadnought Resources
Dreadnought's strategy positions it uniquely among junior explorers, with several compelling investment considerations:
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Self-Funded Exploration Model: The company aims to transform into a self-funded explorer by developing a high-grade open pit at Star of Mangaroon, with third-party funding, development, haulage and processing arrangements – reducing reliance on market funding.
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Significant Growth Potential: The company has consolidated previously fragmented tenements, allowing for the first modern, systematic exploration across the entire project area. This consolidation covers five historical mines and dozens of gold occurrences along highly prospective structural corridors.
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High-Grade Resource Base: The initial resource at Star of Mangaroon already contains shallow, high-grade gold (56,600 tonnes at 12.8 g/t Au for 23,400 ounces at a 2g/t cut-off), with exceptional metallurgical recoveries averaging 96.7%.
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Multiple Exploration Targets: Beyond Steve's Reward, the company's 5,000 km² Mangaroon Project hosts numerous promising targets including Popeye, Pritchard's, McCarthy Workings, Cullens, Midday Moon, Nina, Lightning Ridge, Minga Bar, and Edmund.
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Near-Term Catalysts: A steady stream of drilling results from multiple prospects is expected in the coming months, providing multiple opportunities for share price appreciation.
The discovery of this extensive gold anomaly at Steve's Reward represents a significant step in Dreadnought's systematic exploration approach and adds another promising target to its growing Mangaroon gold inventory. With drilling results pending and exploration continuing across multiple fronts, Dreadnought is well-positioned for potential discovery success in 2025.
Want to Invest in Western Australia's Next Major Gold Discovery?
Find out more about Dreadnought Resources' promising Steve's Reward gold discovery and their systematic exploration strategy at Mangaroon. With an extensive 2,600m gold anomaly, high-grade rock chips up to 155.5 g/t Au, and a self-funded exploration model, DRE offers compelling potential for investors seeking exposure to gold discoveries in Western Australia. For comprehensive investor information and to stay updated on upcoming drilling results, visit Dreadnought's investor page today.
