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Dreadnought Resources Identifies Gold Mineralization at Western Australia Project; Shares Up 3%

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Dreadnought Resources (ASX:DRE) said it identified gold mineralization during a recent drilling at Metzke's Find and discovered the new Metzke's North prospect, both part of its Illaara Gold Project in Western Australia, according to a Wednesday Australian bourse filing.

The results were up to 4 meters at 6.6 grams per tonne gold from 87 meters, including 1 meter at 23.1 grams per tonne gold from 88 meters, with all results outside the existing high-grade resource.

The company said the results will further update and upgrade the Metzke's Find resource, with a resource update planned for July and an updated study to follow, while a reverse circulation and diamond rig will mobilize in July to extend Metzke's North, extend Metzke's Find at depth and produce material for metallurgical and geotechnical studies.

The company's shares were up 3% in recent Wednesday trade.

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