Dreadnought Resources Limited announced that assays from reconnaissance surface sampling have confirmed unconformity HREE mineralisation, similar to the Browns Range project, at the 100% owned Bresnahan project, located in the Ashburton Region of Western Australia. Bresnahan was only acquired at the end of 2022 as a conceptual unconformity HREE province given the geological similarities to Browns Range in northern Australia and the Athabasca Basin in Canada where the model was developed and published in 2018. Target generation and definition work will commence in February/March 2023.

Bresnahan is a conceptual unconformity HREE project containing >3,700sqkms of prospective ground. Bresnahan is located ~125km southwest of Newman in the Ashburton Basin and is accessible by the Ashburton Downs - Meekatharra Road. The Bresnahan Basin and the unconformable contact with the underlying Wyloo Group sediments is interpreted to be a similar geological setting to that seen at the Athabasca Basin in Canada and Browns Range in Western Australia.

These settings form the basis of the unconformity HREE model, originally published in 2018 in collaboration with Northern Minerals Ltd. Rare earth elements were identified within the Bresnahan Basin as early as 2008; however, their significance was not recognised due to the lack of a coherent geological model. In November 2022, a two-day reconnaissance program was undertaken to collect surface samples along significant structural trends and geophysical anomalies to confirm HREE mineralisation and associated pathfinders. In total, 17 locations were visited along the unconformity and basement structures.

This program confirmed significant alteration, veining, brecciation and related hematite and manganese alteration associated with prospective structures. In addition to rare earths, assays confirmed widespread pathfinder association along all major structures. Given the reconnaissance nature of the program, this is considered a resounding success and confirmation that Bresnahan has significant potential to host unconformity HREEs.

Next steps include geophysical surveys, and systematic mapping and sampling of the >300km of strike along major structural trends to define targets. In addition to the unconformity HREE mineralisation, a Au-Ag-Sb prospect was confirmed and higlights the potential for mesothermal Au-Ag-Sb mineralisation similar to that seen elsewhere in the region (eg Black Cat Syndicate Ltd's. Significant results include: BBRK0012: 11.8 g/t Au, 650 g/t Ag and 2.9% Sb, BBRK0013: 11.9 g/t Au, 710 g/t Ag, 0.5% Sb. Given the similarities in structural setting of mesothermal Au-Ag-Sb and unconformity HREEs, all early stage exploration will be applicable to both styles of mineralisation and Au-Ag-Sb targets will be generated alongside HREE targets.

Background on Bresnahan (E52/3356, E52/3936, E52/3937, E52/4083, E52/4139, E52/4141, E52/4142, E52/4143, E52/4144, E52/4147, E52/4228: DRE 100%). Bresnahan is located ~125km southwest of Newman in the Ashburton Basin. The project comprises ~3,700 sq kms covering over 200kms strike along the Bresnahan Basin /Wyloo Group unconformity.

Bresnahan is prospective for unconformity HREE deposits similar to Browns Range and mesothermal lode gold similar to the Paulsens Gold Operation Au-Ag-Sb deposits along strike. Bresnahan is a significant first mover opportunity to explore for unconformity HREE and Au-Ag-Sb deposits.