Dreadnought Resources (DRE.AX) has released assay results from 19 RC holes drilled on its Gifford Creek carbonatite prospect, which is a part of the Mangaroon niobium-Rare Earth project in Western Australia.
The drill bit intersected several high-grade niobium intervals with for instance 50 meters containing 0.9% Nb2O5 and 24 meters containing 0.6% Nb2O5 with several other intervals containing lower grade but thicker mineralized zones like 66 meters of 0.4% Nb2O5, which also included 15 meters of 15% P2O5.
The additional drill results confirm the potential at Gifford Creek where the company has already identified four specific zones containing REEs and this will allow the company to expand its existing resource on the Yin zone which currently already hosts 30 million tonnes of rock at an average grade of 1.04% TREO (‘Total Rare Earths Oxide’), based on drilling just 4 kilometer of the in total 43 kilometer of ironstone formations.
Disclosure: The author has no position in Dreadnought. Please read the disclaimer.
