Dreadnought Resources Says Four Distinct Gold-Bearing Trends Identified at Western Australia Prospect; Shares Tumble 7%

MT Newswires Live12:29

Dreadnought Resources (ASX:DRE) said four distinct gold-bearing trends, ranging from around 2.5 kilometers to 7 kilometers in strike, were identified at Black Oak, part of the Illaara gold project in Western Australia, according to a Monday Australian bourse filing.

The company received assays for 288 air core drill holes of at the project, encountering intercepts of 21 meters at 0.3 grams per tonne (g/t) grade of gold from surface and 9 meters at 0.5 g/t grade of gold from 33 meters.

The company said the current drilling program is expected to finish in June, and a follow-up program has been planned, which will start immediately upon completion of this program.

Dreadnought Resources' shares tumbled 7% in recent Monday trade.

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