Dreadnought Resources Limited (ASX:DRE) has defined five strong EM conductors within the Money Intrusion part of the Mangaroon Ni-Cu-PGE Project in the Gascoyne region of Western Australia.
The FLEM survey covered ~8.4km of strike along the Money Intrusion for near surface conductive bodies. Any conductive bodies would make for priority targets given that high tenor blebby sulphides and gossanous horizons have already been identified.
The survey has successfully identified five conductive bodies interpreted to be sulphide accumulations. Two of these conductors are located at the Bookathanna North target where the keel of the Money Intrusion is near surface and the other three are located within the High Range target.
First Quantum has committed to a ~1,000m RC programme over all five conductors and all drill holes will be surveyed by downhole EM to test the intrusion at depth. The drill program is planned to commence in July 2023.
“In 2022, we confirmed the Money Intrusion as a fertile Ni-Cu-PGE intrusive complex with prospective geometries for accumulating high tenor massive sulphides,” Managing Director, Dean Tuck, said.
“Our second FLEM survey, which incorporated our learnings from the initial drilling program, has been a resounding success defining five conductive bodies at two targets with significantly higher conductance than the targets drilled in 2022. The ~1,000m RC programme will commence in July 2023.”
The confirmation of a fertile magmatic Ni-Cu-PGE system within the 45km long Money Intrusion highlights the potential for multiple deposits. The Money Intrusion has been dated to ~0.8 Ga, similar in age and tectonic setting to the Jinchuan Ni-Cu-PGE deposit in China (>500Mt @1.2% Ni, 0.7% Cu, ~0.4g/t PGE, Lightfoot 2007).
In 2022, nine out of 12 RC holes intersected disseminated mineralization along significant strike showing increasing width and intensity near subtle changes in the walls of the intrusion. This highlights the potential for mineralization to concentrate and form massive sulphide mineralization at favourable “trap sites” along the intrusion.
This is similar to Eagle and Eagle East (~5Mt @3.5% Ni, 2.9% Cu, 1.6g/t PGE, 0.1% Co, Lundin 2013) located in North America. These high tenor massive sulphide targets, like Eagle, are the preferred exploration target for First Quantum.
There remains significant potential for this system to host high tenor Ni-Cu-PGE massive sulphides.
For further information please visit: https://www.dreadnoughtresources.com.au/