By: ABN Newswire
September 24, 2010 at 14:52 PM EDT
Dynasty Metals Australia Limited (ASX:DMA) Secures New Tenement To Expand Its Prairie Downs Iron Tenements
Dynasty Metals Australia Limited (ASX:DMA) are pleased to announce that it has successfully secured a strategic tenement following a strongly contested ballot. The new tenement, (E52/2591) is contiguous with Dynasty's existing tenement holdings, and is located near to the vast Mt Newman mining operations.
The tenement covers a complex structural zone on the edge of the Hamersley Basin and adjacent to the vast intrusive of the Sylvania Dome. The tenement has recent alluvial which are interpreted to cover an area of potential Marra Mamba Formation.
Dynasty will include this tenement in its future exploration activities and utilise detailed geological mapping, ground magnetic and gravity surveys to identify drilling targets for initial exploration.
For the complete Dynasty announcement including figures of the tenement location, Dynasty's neighbours and the regional geology, please refer to the following link:
About Dynasty Metals Australia Limited:
Dynasty Metals Australia Ltd (ASX:DMA) is an emerging Australian iron ore exploration company focused on developing its 100%-owned tenements at Prairie Downs in Western Australia's Pilbara region.
In March 2010, Dynasty announced initial JORC-Compliant Inferred Resources of 453 million tonnes of Detrital Channel Iron and 23.3 million tonnes of Marra Mamba Iron Formation.
The 2010 exploration programs are underway and are aimed at further testing and significantly expanding the current resources, as well drilling a large iron-rich basal conglomerate for the first time. The exploration target is more than 1 billion tonnes of iron.
During 2010, Dynasty plans to commence detailed commercial investigations that will cover preliminary mine planning, beneficiation process design, mining and processing costs, transport infrastructure, capital costs, environment and native title clearances, and government approvals. A pre-feasibility study is anticipated to commence in late 2010.
Malcolm Carson Executive Director - Technical Dynasty Metals Australia Limited Tel:+61-2-9229-2704 Lewis Tay Executive Director Dynasty Metals Australia Limited Tel:+61-2-9229-2710 (Chinese) http://www.dynastymetals.com.au
Dynasty Metals Australia Limited
Copyright (C) 2010 ABN Newswire. All rights reserved.
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