View in Other Languages Dynasty Metals Australia Limited (ASX:DMA) 截至2009年12月31日期间季度报告 Dynasty Metals Australia Limited (ASX:DMA) 截至2009年12月31日期間季度報告 Dynasty Metals Australia Limited (ASX:DMA) Quarterly Report For The Period Ended 31 December 2009 
Dynasty Metals Australia Limited (ASX:DMA) Quarterly Report For The Period Ended 31 December 2009
Dynasty Metals Australia Limited (ASX:DMA) Quarterly Report For The Period Ended 31 December 2009

Sydney, Feb 2, 2010 AEST (ABN Newswire) - Dynasty Metals Australia Limited's (googlechartASX:DMA) is pleased to provide a Quarterly Activities Report for the period ended 31 December 2009.

EXPLORATION - PRIORITIES - PRAIRIE DOWNS

The Prairie Downs iron ore prospect was the focus of Dynasty's exploration efforts during the quarter. Drilling identified substantial tonnages of iron rich material on E52/1927 as described in Dynasty's November 5th and 16th 2009 announcements. The geological model was also described in these announcements.

Marra Mamba Prospect

The Stage 1 Reverse Circulation (RC) drill holes, MMRC001 to MMRC015 was extended in a Stage 2 program (MMRC016 to MMRC030) with a view to gaining a better understanding of the mineralisation. The final results from all of these holes are presented in Table 1. These results confirm that the intercepts of Marra Mamba Iron Formation to date have been iron-rich with calcined in-situ grades ranging from 55% Fe to 65% Fe, and showing low concentrations of phosphorous, typically 0.04% to 0.07% P.

The results demonstrate Dynasty's early exploration success by confirming with drilling the presence of strongly mineralised sections of the important Marra Mamba Iron Formation up to 100m thick and with a shallow dip to the west. These results provide confidence for future exploration for Marra Mamba on Dynasty's tenements.
TABLE 1: Key Results Marra Mamba Project - Summarised ---------------------------------------------------------Hole     From  To  Intersection          CaFe(1)                     Length      Fe %      %         P %--------------------------------------------------------MMRC003    0   27      27m     53.10%    58.70%   0.069%Incl       8   18      10m     52.00%    59.00%   0.098%And       18   25       7m     58.50%    64.20%   0.055%MMRC004    9   67      58m     56.20%    61.30%   0.063%Incl      16   27      11m     60.50%    65.50%   0.047%And       38   62      24m     59.10%    64.10%   0.073%MMRC005    5   61      56m     50.50%    55.10%   0.044%Incl       9   50      41m     54.00%    58.90%   0.041%MMRC006   18   24       6m     58.00%    61.80%   0.043%MMRC007    0   42      42m     54.70%    60.50%   0.069%Incl       6   24      18m     57.20%    63.00%   0.080%MMRC009    0   14      14m     50.90%    54.80%   0.035%MMRC010    0   47      47m     54.10%    58.90%   0.055%Incl       5   38      33m     56.30%    61.10%   0.056%MMRC011    1   61      60m     50.10%    55.10%   0.050%Incl      18   61       4m     51.90%    57.40%   0.056%MMRC012    7   17      10m     52.80%    57.50%   0.043%MMRC015    0   43      43m     50.90%    55.20%   0.051%Incl      17   31      14m     59.50%    64.00%   0.061%MMRC017   17   27      10m     49.41%    57.00%   0.078%MMRC020    2   24      22m     55.74%    59.91%   0.032%Incl       4   21      17m     58.06%    61.92%   0.030%MMRC021    9   17       8m     59.05%    60.64%   0.030%MMRC022   13   27      14m     54.50%    60.42%   0.030%MMRC023    5   60      55m     51.64%    58.32%   0.042%Incl      18   34      16m     54.58%    60.83%   0.030%And       39   57      18m     52.75%    60.42%   0.046%MMRC024   11   62      51m     55.55%    61.11%   0.056%Incl      22   42      20m     57.53%    62.73%   0.049%And       46   61      15m     60.44%    65.38%   0.059%MMRC027   17   27      10m     51.68%    57.53%   0.075%MMRC028    1   44      43m     52.51%    57.47%   0.042%Incl       6   14       8m     54.65%    59.14%   0.031%And       28   38      10m     58.77%    63.80%   0.043%MMRC029   22   38      16m     57.57%    61.42%   0.040%--------------------------------------------------------
(1) CaFe = "calcined or LOI-free grades" calculated as (Fe*100)/(100-LOI)

The 2010 field program will focus on looking for possible buried or hidden deposits of the Marra Mamba and Brockman Iron Formations on Dynasty's Prairie Downs tenements, in location.

Spearhole and Northern Channel Iron Prospects

The drilling completed in the December 2009 quarter, intersected several Tertiary Channel Iron deposits (CID) which were based on sub-crop of Channel Iron and a very large area of younger, Detrital Channel Iron (DID) with thicknesses from surface ranging from 15 to 35m. The DID deposit appears to be thickening to the east and south east along the Spearhole drainage system.

Drilling confirmed that large areas of the northern portion of E52/1927 contain several hundred million tonnes of Detrital Channel Iron and smaller occurrences of Tertiary Channel Iron. Drilling shows that these deposits deepen and remain open to the south and to the south east is shown of the area tested.
The material is expected to be low grade (ranging from 10% Fe to 40% Fe - 'order of magnitude') and as such will require beneficiation. Bulk samples (~20kg, ~200kg) and selected samples were taken to determine the beneficiation 'flow sheet' and to prove that the material "can be beneficiated" (Proof of Concept).

Beneficiation is a "physical separation process" which involves for the detrital iron deposits minimal crushing and the relatively simple removal of silica using a combination of screens, magnetic, jig and heavy media separation techniques.

Should this material be capable of beneficiation the 2010 program will be designed to accurately determine the costs of this beneficiation process. Mining costs for a large scale project (15 to 20M tonnes/a) are expected to be low because there is no overburden as the Detrital Iron deposits start at surface.

Following from the compilation of the drill assay results, compilation of a JORC Compliant Resource and the review of the beneficiation results (during the March 2010 quarter) Dynasty will be in a position to firm up on a proposed 20,000m drilling program; together with commercial studies which will involve bulk sampling, metallurgical (beneficiation) testing and pre development feasibility studies.

Should Dynasty decide to proceed, the 2010 work program will be designed to define JORC Compliant Reserves, define mining plans and costs, confirm beneficiation costs, determine and define infrastructure (rail and port) access options and costs and begin to develop off-take partner relationships.

Homestead Prospect

Dynasty collected during the program several 40kg samples from an ancient and vast coarse boulder "basal hematite-clast conglomerate" which is located on the margin between the Bangemall and Hamersley basin. The basal conglomerate, referred to as the Homestead Prospect, covers an area within Dynasty's tenements of >100km2 and is estimated from field observations to be possibly up to 40m thick in places.

On the north and western contact at the intersection of regional north east and north west trending faults large hematite clasts (presumably derived from the Hamersley Basin) within a heavily ferruginised matrix have been observed and were sampled.

Strategic Location

Dynasty tenement at Prairie Downs are located in a highly strategic region of the Pilbara, west, south and east of Mt Newman where BHPB's flagship Mt Whaleback mining operation is located.

The tenements are all centrally located near to advanced exploration projects and existing major iron ore mining operations and railway and road infrastructure.

CORPORATE

Cash Position at 31 December 2009: 2,500,860

Capital Structure

Quoted shares:
- 67,681,312

Quoted options:
- 20,917,029 exercisable at A$0.35 expiring 28 February 2010

Unlisted options:
- 500,000 exercisable at A$0.20 expiring 1 September 2010
- 18,000,000 exercisable at A$0.20 expiring 21 December 2011

For the complete Dynasty Metals Quarterly Report for the period ended 31 December 2009, please click the link below:

http://www.abnnewswire.net/media/en/docs/62204-ASX-DMA-478580.pdf

Contact

Malcolm Carson
Technical Director
Tel: +61-2-9229-2702

Lewis Tay
Executive Director
Tel: +61-2-9229-2710

Ian Levy
Chairman
Tel: +61-2-9229-2704



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