Dreadnought Resources reveals new gold resource estimate

Dreadnought Resources (ASX:DRE) has released an initial JORC Code 2012 Mineral Resource Estimate for its Star of Mangaroon gold deposit in Western Australia. The estimate reveals a high-grade and shallow gold deposit, with 84% in the Indicated category, totaling 56,600 tonnes at 12.8 g/t Au for 23,300 ounces of gold. The deposit is suitable for open-pit mining and remains open at depth and along strike.

Dreadnought Resources outlines future plans and strategies

Dreadnought Resources' announcement of the initial Mineral Resource Estimate for the Star of Mangaroon highlights the company's strategic focus on advancing the project towards production. The high-grade and shallow nature of the deposit, along with its classification mostly in the Indicated category, supports plans for an open-pit operation. The company is committed to becoming a self-funded explorer, as evidenced by its planned scoping study and commercial discussions for outsourcing operational aspects. The timeline for these developments includes a scoping study completion by March 2025 and finalizing commercial agreements by June 2025. With a long-term strategy to expand this development model to other prospects within the Mangaroon project, Dreadnought aims to leverage its resources for sustained exploration and reduced market dependency.

Executive insights on Star of Mangaroon development

The Star of Mangaroon deposit is situated on a mining lease with minimal production permits required, and its development aligns with Dreadnought’s strategy to become a self-funded explorer. Dreadnought plans to conduct an open-pit scoping study, which is expected to be completed by March 2025. The company is also engaging in commercial discussions to outsource funding, development, haulage, and processing, with finalization expected by June 2025.