Dreadnought Resources (ASX:DRE) found thick near-surface gold mineralization during a recent drilling at its Mangaroon Gold project in Western Australia, according to a Monday Australian bourse filing.
The results were up to 17 meters at 1.1 gram per tonne (g/t) gold from 23 meters, including 10 meters at 1.4 g/t gold from 25 meters.
The company said that the recent results are the thickest intercepts to date and highlight the potential for bulk gold deposits in addition to the narrow, high-grade gold.
The company expects additional soil results from about 2,700 samples in December.
The company's shares rose past 3% in recent Monday trade.