Tarraji-Yampi Project Supergene Confirmed And Massive Sulphides Extended At Orion Cu-Au-Ag-Co

Dreadnought Resources Limited ("Dreadnought") is pleased to provide an update on the RC drilling program at the Tarraji-Yampi Project in the West Kimberley region of Western Australia.

• Mineralisation at Orion is now confirmed from a depth of ~1m to ~150m down dip and along strike for ~240m and remains open at depth and along strike. This includes multiple supergene (chalcocite) and oxide (gossanous) intercepts in the top 20m from surface. Of 29 holes drilled at Orion, 19 intersected massive to semi-massive sulphides or supergene / oxide mineralisation.
• Magnetic targets at Orion and Fuso containing multiple zones of copper and cobalt mineralisation within chlorite and silica altered sediments and mafics also confirm additional mineralisation potential.
• Due to the wet season, drilling at Tarraji-Yampi has finished with a total of 32 RC drill holes drilled for 3,921m. Assay results are expected through November/December 2021.

A program of 32 RC holes (3,921m) has been completed at the Orion and Fuso prospects. At Orion, recent drilling focussed on a geophysical anomaly that extends ~400m in strike and to a depth of at least 500m. The anomaly contains a recent massive sulphide intersection (KMRC017 12m @ 1.6% Cu, 31.7 g/t Ag & 0.5g/t Au from 45m). This work included testing along strike and at depth from KMRC017 as well as for nearby, shallow supergene mineralisation. Furthermore, 6 magnetic anomalies around Orion and Fuso were tested.

Dreadnought's Managing Director, Dean Tuck, commented:

"Of the 29 holes drilled at Orion this season, 19 intersected massive to semi-massive sulphides or supergene / oxide mineralisation which confirmed our targeting techniques as well as the potential scale of the system. Mineralisation is now confirmed over ~240m of strike and to a depth of 150m and remains open. Orion also has oxide and supergene mineralisation from 1m depth. Orion, Fuso and surrounds are proving more and more to be part of a large mineralised system with similar geochemical signatures to Proterozoic Cu-Au / sedimentary copper systems with the rocks showing similar age, mineralisation and alteration as the Mt Isa Region.

Figure 1: Photo of RC chips from KMRC039 18-19m showing supergene mineralisation comprised of chalcocite (dark grey) mixed with pyrite, chalcopyrite and gossanous iron oxides (red-brown). Part of a 20m thick oxide-supergene zone intersected from 4m depth.

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