Sydney, Nov 5, 2009 (ABN Newswire) - AUDIO: Dynasty Metals Limited (ASX:DMA) announce that drilling at the Spearhole Channel Iron Deposit has identified a deposit of 400 million tonnes and is open and un-tested to the south and southwest.
Drilling has identified a Detrital Channel Iron Deposit ("DID") in the Spearhole Prospect exceeding 15m thickness from the surface, over an area of 8.4km2 (8,400,000m2). Assay results on the bulk of the 9,979 metres in the 305 holes drilled are pending. Preliminary results from the first 30 holes (10% drilled) of northern part of the 400M tonnes initial target confirm persistent intersections of haematite-rich detritals and iron pisolites over deep zones with wide intercepts (up to 40m) from surface.
Follow up test work and assessment is being undertaken on bulk samples of those intersections which show encouraging preliminary results to:
1. assess the beneficiation processes required to remove clay and free silica to produce a high grade iron ore product; and,
2. define which parts of the 400M tonnes target identified so far contain commercial tonnes and grades which could be viable to mine, process and export.
Dynasty's exploration target deposit is of the order of 1 billion tonnes of commercial grade Detrital Channel Iron on its Prairie Downs tenements. This exploration target deposit is in addition to the Bedded Iron, DSO Marra Mamba intersections previously announced.
About Dynasty Metals Australia Limited
Dynasty Metals Australia Ltd (ASX Code: DMA) is a dynamic exploration company. Since listing on the ASX in December 2005, Dynasty has laid the foundations for growth as an emerging Australian metals company. The company has an impressive portfolio of exploration projects in WA, NT and Victoria including Iron Ore, Gold, Uranium, Coal Seam Gas and other metals. The Directors and Management of Dynasty are currently focusing on its flagship Iron Ore and Coal Seam Gas projects in Western Australia and aim to start an aggressive drilling in 2009 on these tenements.
Contact
Malcolm Carson
Executive Technical Director
TEL: +61-2-9229-2702
Lewis Tay
Executive Director
TEL: +61-433-166-818
Ian Levy
Chairman
TEL: +61-407-189-122
Drilling has identified a Detrital Channel Iron Deposit ("DID") in the Spearhole Prospect exceeding 15m thickness from the surface, over an area of 8.4km2 (8,400,000m2). Assay results on the bulk of the 9,979 metres in the 305 holes drilled are pending. Preliminary results from the first 30 holes (10% drilled) of northern part of the 400M tonnes initial target confirm persistent intersections of haematite-rich detritals and iron pisolites over deep zones with wide intercepts (up to 40m) from surface.
Follow up test work and assessment is being undertaken on bulk samples of those intersections which show encouraging preliminary results to:
1. assess the beneficiation processes required to remove clay and free silica to produce a high grade iron ore product; and,
2. define which parts of the 400M tonnes target identified so far contain commercial tonnes and grades which could be viable to mine, process and export.
Dynasty's exploration target deposit is of the order of 1 billion tonnes of commercial grade Detrital Channel Iron on its Prairie Downs tenements. This exploration target deposit is in addition to the Bedded Iron, DSO Marra Mamba intersections previously announced.
About Dynasty Metals Australia Limited
Dynasty Metals Australia Ltd (ASX Code: DMA) is a dynamic exploration company. Since listing on the ASX in December 2005, Dynasty has laid the foundations for growth as an emerging Australian metals company. The company has an impressive portfolio of exploration projects in WA, NT and Victoria including Iron Ore, Gold, Uranium, Coal Seam Gas and other metals. The Directors and Management of Dynasty are currently focusing on its flagship Iron Ore and Coal Seam Gas projects in Western Australia and aim to start an aggressive drilling in 2009 on these tenements.
Contact
Malcolm Carson
Executive Technical Director
TEL: +61-2-9229-2702
Lewis Tay
Executive Director
TEL: +61-433-166-818
Ian Levy
Chairman
TEL: +61-407-189-122
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.
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