Dreadnought Resources Ltd. has received a key mining approval for an open pit at the Star of Mangaroon, part of its Mangaroon gold project in the Gascoyne region of Western Australia.
The Mine Development and Closure Proposal (MDCP) approved the open-pit proposal. The move is another step forward for Dreadnought as it transitions into a self-funded explorer.
Dreadnought is employing a lean commercial model. By outsourcing funding, development, haulage, and processing to third-party partners, including joint venture partner Black Cat Syndicate, Dreadnought aims to generate immediate cash flow without the heavy overheads of building its own mill.
Dreadnought’s Managing Director, Dean Tuck, said: “The MDCP approval is a step towards developing the Star of Mangaroon open pit with our JV partner Black Cat, and generating cash-flow which is a key pillar of our Finding More Gold, Faster strategy.
The Star of Mangaroon is renowned for its high-grade mineralisation. Current resource estimates for the Fresh rock component show an impressive 11.3 g/t gold, while metallurgical testing has returned exceptional recoveries averaging 96.7 per cent.
The project area covers roughly 5,000 square kilometres along the Mangaroon Shear Zone.
Despite a history of small-scale mining in the region, Dreadnought’s consolidation of the tenure marks the first time the area has been subjected to modern, systematic exploration.
With the MDCP secured, the company expects to receive its Native Vegetation Clearing Permit (NVCP) shortly.
As the project moves toward production, Dreadnought is already looking to replicate this commercialisation model at its Metzke’s Find prospect, further bolstering its pipeline of cash-generating assets in the WA goldfields.
