94% Increase in High-Grade Indicated Resource, Metzkes Find
| Stock | Dreadnought Resources Ltd (DRE.ASX) |
|---|---|
| Release Time | 23 Jun 2026, 8:13 a.m. |
| Price Sensitive | Yes |
Dreadnought Resources Announces Significant Resource Increase at Metzke's Find
- 94% increase in Indicated Resource at Metzke's Find
- Total Resource now ~25,000 oz at 5.2 g/t Au
- Enhanced economics due to 50% more gold in top 50m
- Open pit study underway, potential for further growth
Dreadnought Resources Ltd announced an updated and upgraded independent JORC Mineral Resource for Metzke's Find, part of the Illaara Gold Project in Western Australia. The new Resource estimate shows a 94% increase in Indicated ounces, totaling approximately 25,000 ounces at a grade of 5.2 g/t Au. The total Resource is now ~25,000 ounces at 5.2 g/t Au. Notably, there is a 50% increase in ounces in the top 50 meters, which is expected to enhance project economics and cashflow. The Resource is situated on a granted mining lease and is amenable to both open pit and underground mining. Further drilling is planned for July 2026, with the potential for additional growth at depth and along strike.
94% increase in Indicated Resource, ~25,000 oz at 5.2 g/t Au
Dreadnought Resources is optimistic about the potential for further growth at Metzke's Find through additional drilling and exploration. The company is also progressing with an economic study to assess the feasibility of open pit and underground mining options.