Dreadnought and Teck Sign AU$15 million Farm-In and JV Agreement at Money Intrusion, WA

Dreadnought Resources Ltd (ASX: DRE) has entered into a Farm-In and Joint Venture Agreement with a subsidiary of Canadian mining major Teck Resources Limited to explore the Money Intrusion Ni-Cu-Co-PGE prospect at the Mangaroon Project in Western Australia. Under the agreement, Teck can earn a 75% interest in five tenements by sole funding up to AU$15 million in exploration over 6.5 years, with an initial AU$1 million minimum spend and AU$450,000 in staged cash payments to Dreadnought.

If Teck completes the full spend, a 75/25 joint venture will be formed. Historical drilling has returned high-grade intercepts, including 2m @ 3.32% Ni, 2.88% Cu, and 1.46g/t 3PGE. Dreadnought focuses entirely on its gold strategy while gaining exposure to nickel and copper exploration funded by Teck. Initial exploration work by Teck, including geological and geophysical surveys, is expected to commence in June 2025, with Dreadnought providing ongoing updates.

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