Significant Financial Boost for High-Potential Inevitable Cu-Au Target
Dreadnought Resources (ASX:DRE) has secured a $120,000 co-funded drilling grant under the Department of Energy, Mines, Industry Regulation and Safety's (DEMIRS) Exploration Incentive Scheme (EIS) for its wholly-owned Mangaroon Gold Project in Western Australia's Gascoyne region.
The merit-based grant will fund first-pass RC drilling at the Inevitable Cu-Au target within the Bordah gold camp, testing multiple electromagnetic conductors with coincident sub-cropping gossans. Drilling at both Inevitable and Steve's Reward targets is scheduled to commence in June 2025.
Managing Director Dean Tuck emphasised the significance of this support: "Dreadnought is pleased to continue to receive recognition and support from the Geological Survey's EIS co-funded drilling program. The program is highly competitive, and the awarding of these grants further recognises the technical merits and potential of Inevitable, the wider Bordah area, and the Mangaroon Gold Project to deliver new discoveries."
Understanding the Bordah Gold Camp's Exceptional Potential
The Bordah gold camp, spanning approximately 12km by 6km, is defined by strong gold, base metal, and pathfinder stream sediment anomalism, with a similar interpreted lithostructural setting to the company's existing Tiger discovery and the wider Star of Mangaroon gold camp.
What makes the Inevitable target particularly compelling is the strength of its conductive anomaly. According to Dreadnought, significant Cu-Au-Ag-Pb-Zn mineralisation has already been demonstrated at Tiger (as announced in October 2024), but Tiger lacks the conductive anomaly present at Inevitable—suggesting even stronger mineralisation potential at the new target site.
The Bordah area also hosts the Steve's Reward target, featuring multiple sub-cropping high-grade gold lodes spanning approximately 1km in strike length. The company believes Inevitable and Steve's Reward could be part of a related mineralisation system similar to that seen at Tiger and the Star of Mangaroon.
Understanding Electromagnetic Conductors: Why They Matter to Investors
Electromagnetic (EM) conductors are geophysical anomalies that indicate the presence of conductive materials underground. In mineral exploration, these conductors frequently correlate with sulphide mineralisation, which can host valuable metals like copper, gold, and zinc.
When EM conductors coincide with surface expressions like gossans (oxidised, iron-rich material often found above sulphide deposits), it substantially increases the confidence in a target. This combination of geophysical data and surface geology provides stronger evidence for potential mineralisation at depth, reducing exploration risk and increasing the probability of discovery success.
For Dreadnought's Inevitable target, the presence of both EM conductors and gossans creates a compelling exploration case that warranted the competitive EIS funding—a further validation of the target's potential.
Pathway to Self-Funded Exploration and Production
Dreadnought has outlined a clear transition timeline toward becoming a self-funded explorer. The company's roadmap includes:
- March 2025 Quarter: Additional resource drilling at Star of Mangaroon Open Pit
- June 2025 Quarter: Completion of mining studies and arrangement of mine, haul, and process agreements
- September 2025 Quarter: Securing necessary approvals
- December 2025 Quarter: Commencement of production
Concurrent with these development activities, Dreadnought will continue gold exploration at its key target areas: Bordah, High Range, and Minga Bar throughout 2025.
Mangaroon Gold Project: Substantial Untapped Potential
The Mangaroon Gold Project encompasses approximately 5,000 km² with an initial focus on a gold system situated over the Mangaroon Shear Zone between the crustal-scale Minga Bar and Edmund Faults. The project area hosts multiple historical workings that have seen limited, shallow drilling—primarily concentrated along just 200m of strike near the Star of Mangaroon mine.
Dreadnought's consolidation of previously fragmented tenements has enabled the first-ever modern exploration of this promising area. The company has already established a significant resource at Star of Mangaroon, reporting:
| Type | Tonnes | Grade (Au g/t) | Gold (oz) |
|---|---|---|---|
| Transition | 1,900 | 26.9 | 1,700 |
| Fresh | 54,700 | 12.3 | 21,700 |
| Total | 56,600 | 12.8 | 23,400 |
Resource at 2g/t Au cut-off grade
Metallurgical work at Star of Mangaroon has delivered exceptional recoveries, averaging 96.7% combined recovery including an impressive 74.4% gravity recovery—confirming the region's reputation for containing free gold that can be processed using standard gravity and carbon-in-leach circuits.
Investment Thesis: Why Dreadnought Deserves Attention
Dreadnought offers investors exposure to a compelling growth story backed by several key advantages:
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Resource-to-Production Strategy: The company's plan to transform into a self-funded explorer through near-term gold production reduces reliance on market funding and enables organic growth through cash flow.
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Project Consolidation Advantage: By assembling previously fragmented tenements, Dreadnought has created the first opportunity for comprehensive, modern exploration across the entire prospective area.
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High-Grade Gold Resources: Initial resource estimates at Star of Mangaroon demonstrate exceptional grades (12.8 g/t Au), with additional high-grade intercepts at nearby prospects like Popeye (3m @ 22.8 g/t Au).
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Metallurgical Efficiency: Exceptional gold recoveries (96.7%) indicate straightforward processing requirements, potentially leading to stronger project economics.
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External Validation: The competitive EIS grant provides third-party confirmation of the technical merit of Dreadnought's exploration targets.
Why Investors Should Track Dreadnought's Progress
Dreadnought Resources represents an intriguing opportunity for investors seeking exposure to a near-term gold producer with significant exploration upside. The company's transition to self-funded explorer status through high-grade open pit operations at Star of Mangaroon could provide sustainable cash flow to fund further discoveries.
With multiple high-potential targets across the 5,000 km² Mangaroon Gold Project, including the newly funded Inevitable target, Dreadnought has positioned itself for potential discovery success in 2025. The upcoming drilling program at Bordah (starting June 2025) represents a significant catalyst that could substantially enhance the company's resource base.
Key Takeaway:
Dreadnought Resources has positioned itself as an emerging player in Western Australia's gold sector, with significant upside potential due to its high-grade resources, innovative self-funding approach, and newly granted exploration funding. With production targeted to commence in late 2025 and multiple exploration catalysts throughout the year, investors should keep a close eye on developments at Mangaroon.
Ready to Explore This Promising Gold Opportunity?
For investors seeking detailed information about Dreadnought Resources' high-grade Mangaroon Gold Project, its compelling Inevitable Cu-Au target, and the company's strategic pathway to self-funded exploration, visit the investor section of Dreadnought's website. With production targeted for late 2025 and significant exploration catalysts on the horizon, now is the ideal time to discover how this ASX-listed gold explorer could deliver exceptional shareholder value.
