Dreadnought Resources reports high-grade gold intercepts and outlines exploration strategy

Dreadnought Resources Limited (ASX:DRE) has released the results from the RC drilling program at the Star of Mangaroon, part of the Resource drilling program around the historic Star of Mangaroon gold mine. The company also provided an update on its strategy to transform into a self-funded explorer. The high-grade intercepts at Star of Mangaroon and promising assays at Popeye are significant developments for the company's exploration efforts.

Executive Commentary on Exploration Strategy

Dreadnought's Managing Director, Dean Tuck, outlined the company's strategy to become a self-funded explorer. Tuck emphasized the focus on potential high-grade open pit mining at the Star of Mangaroon, followed by extending the concept to other prospects. The strategy aims to outsource funding, development, haulage, and processing to third parties, allowing the company to concentrate on exploration and growth. Tuck expressed satisfaction with the Resource drilling results at Star of Mangaroon and the progress at Popeye, aligning with the company's strategic goals.

Summary of ASX Announcement

Dreadnought Resources has reported high-grade intercepts from the RC drilling program at the Star of Mangaroon, with visible gold logged in diamond holes. The company's strategy to become a self-funded explorer involves outsourcing cash-flow generating activities while focusing on exploration and growth. The promising results at Popeye and the upcoming Mineral Resource Estimate for Star of Mangaroon in November 2024 indicate a positive outlook for the company's exploration efforts. Dreadnought's ambitions include making life-changing discoveries and reducing reliance on market funding.