Dreadnought Resources has revealed a 94 per cent increase for the independent, high-grade resource for Metzke’s Find, part of its Illaara gold project in Western Australia.
The newly updated JORC independent resource estimate for the Metzke’s Find deposit has jumped to approximately 24,900 ounces of gold grading at an impressive 5.2 grams per tonne (g/t).
About 84 per cent of the total resource is now classified in the high-confidence Indicated category, sitting on a recently granted mining lease.
A major driver for future project economics is the location of the gold, with the deposit containing 50 per cent more ounces within the top 50 metres from the surface.
The bulk of the mineralisation occurs within fresh rock above 100 metres vertical depth, making it highly amenable to shallow open-pit extraction.
Dreadnought Managing Director Dean Tuck said the grade compares exceptionally well with other high-grade open-pit opportunities in Western Australia.
“The high-grade nature of this resource is something we are particularly pleased with, indicated grades at 6 g/t Au, and at over 5 g/t Au for the total resource, compares favourably with other high-grade open pit opportunities in WA,” Tuck said.
“Advancing Metzke’s Find towards development is central to our Finding More Gold, Faaster strategy. The commercial interest we are already receiving reinforces our confidence that becoming a self-funded explorer is a real and near-term opportunity.”
Located in the world-renowned Yilgarn Craton, approximately 190 kilometres northwest of Kalgoorlie, the Illaara greenstone belt is highly accessible with established regional road and rail infrastructure.
Metzke’s Find was originally discovered by prospectors in 1911 but faced limited development due to its early remoteness.
Recent metallurgical test work and automated photon assays have unlocked the project’s modern potential.
Dreadnought is currently advancing an open-pit mining study and holding commercial talks with third parties to outsource haulage, processing, and development.
Drilling is scheduled to kick off again in July to target the nearby Metzke’s North discovery.
Dreadnought’s aim to become a self-funded explorer is another step closer with a second potential high-grade open pit where funding, development, haulage and processing can be outsourced to third parties.
