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Sydney, July 16, 2010 (ABN Newswire) - Dynasty Metals Australia Limited (
ASX:DMA) advises that top-level representatives of Geo-Exploration & Mineral Development Bureau of Ning Xia (Ning Xia), a State owned Chinese exploration company, are conducting a series of negotiations in Perth this week regarding Dynasty's uranium and base metal projects.
The Ning Xia delegation will be discussing the following projects with Dynasty:
- The underexplored prospective grounds referred to as Stanley & Nabberu projects (WA). The delegation is particularly interested in the area occupied by four sedimentary basins and a small inlier of granitoids basement. These granitoids are Archaean to late Paleoproterozic intrusions and are possibly enriched in Uranium and Thorium.
- Yanrey (WA), the major focus of this tenement is Paleochannel Uranium sourced from the Proterozoic of the Gascoyne province.
- Hector Bore (WA), these tenements contain know Uranium mineralization as well as having several geological targets such as pegmatites and a barite occurrence.
- Mt Phillips (WA), this project contains highly prospective areas with geological setting for Uranium.
- Northern Territory, several green field tenements sit within the highly prospective Arunta Block and within 100km of Napperby Uranium deposit.
Discussions are focused on Dynasty obtaining funding for these uranium and base metal exploration tenements and the possibilities of Dynasty divesting the assets to a separate listed company providing in-specie distribution of shares to the Dynasty shareholders when completing an IPO.
About Geo-Exploration & Mineral Development Bureau of Ning Xia (Ning Xia)
Ning Xia is a major exploration bureau based in North West of China. It was formed in 1956, currently employed about 500 people including 30 senior engineers and geologists. Ning Xia was commissioned by Ivanhoe (TSE:IVN) to explore for copper and gold in Mongolia.
During the past 50 years, Ning Xia has discovered more than 200 significant deposits (mineral, oil and gas), besides uranium discovery, Ning Xia has found totalling 33.5 billion tons of proven coal reserves, 990 million cubic meters of coal seam gas, and achieved outstanding results in identifying the thermal and water resources.
For more figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63322-ASX-DMA-497799.pdf
ASX:DMA) advises that top-level representatives of Geo-Exploration & Mineral Development Bureau of Ning Xia (Ning Xia), a State owned Chinese exploration company, are conducting a series of negotiations in Perth this week regarding Dynasty's uranium and base metal projects.The Ning Xia delegation will be discussing the following projects with Dynasty:
- The underexplored prospective grounds referred to as Stanley & Nabberu projects (WA). The delegation is particularly interested in the area occupied by four sedimentary basins and a small inlier of granitoids basement. These granitoids are Archaean to late Paleoproterozic intrusions and are possibly enriched in Uranium and Thorium.
- Yanrey (WA), the major focus of this tenement is Paleochannel Uranium sourced from the Proterozoic of the Gascoyne province.
- Hector Bore (WA), these tenements contain know Uranium mineralization as well as having several geological targets such as pegmatites and a barite occurrence.
- Mt Phillips (WA), this project contains highly prospective areas with geological setting for Uranium.
- Northern Territory, several green field tenements sit within the highly prospective Arunta Block and within 100km of Napperby Uranium deposit.
Discussions are focused on Dynasty obtaining funding for these uranium and base metal exploration tenements and the possibilities of Dynasty divesting the assets to a separate listed company providing in-specie distribution of shares to the Dynasty shareholders when completing an IPO.
About Geo-Exploration & Mineral Development Bureau of Ning Xia (Ning Xia)
Ning Xia is a major exploration bureau based in North West of China. It was formed in 1956, currently employed about 500 people including 30 senior engineers and geologists. Ning Xia was commissioned by Ivanhoe (
TSE:IVN) to explore for copper and gold in Mongolia.During the past 50 years, Ning Xia has discovered more than 200 significant deposits (mineral, oil and gas), besides uranium discovery, Ning Xia has found totalling 33.5 billion tons of proven coal reserves, 990 million cubic meters of coal seam gas, and achieved outstanding results in identifying the thermal and water resources.
For more figures, please refer to the following link:
http://www.abnnewswire.net/media/en/docs/63322-ASX-DMA-497799.pdf
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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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