Drill results from Metzke's included headline assays of 2m at 12.8 grams per tonne gold from 51m and 8m at 8.1gpt from 84m - with the true width of the mineralisation unknown - while three new targets have been generated along strike and adjacent to the drilled prospect.
Metzke's is an historical mining area.
Cash-strapped Dreadnought is exploring for both gold and VMS deposits at Illaara, with the ground acquired from Newmont in mid-2019.
The company is led by chairman Paul Chapman and MD Dean Tuck.
Dreadnought raised A$500,000 in May when it issued new shares priced at 0.4c each.
Shares in Dreadnought closed up 25% to 1c Monday, capitalising the company at $17 million.