Perth, Sep 17, 2012 (ABN Newswire) - Dynasty Metals Australia Limited (ASX:DMA) confirms that a planned 220 line kilometre ground magnetic survey has commenced on Dynasty's E52/2591 tenement in the Newman area. This tenement is covered by recent alluvials and has been ignored by previous explorers despite having significant Marra Mamba hosted mineralisation in outcropping areas adjacent to the tenement.
Regional magnetics show significant anomalous areas that may reflect shallow Hamersley basin sediments below the cover. The entire tenement will be covered on 100 metre spacing with the areas considered most prospective to be infilled to 50 metres.
Processing of the ground magnetic data will allow siting of drillholes for a reconnaissance drilling program later this year.
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.
Contact
Dynasty Metals Australia Limited T: +61-8-6316-4414 F: +61-8-6316-4404 WWW: www.dynastymetals.com.au
ASX:DMA) confirms that a planned 220 line kilometre ground magnetic survey has commenced on Dynasty's E52/2591 tenement in the Newman area. This tenement is covered by recent alluvials and has been ignored by previous explorers despite having significant Marra Mamba hosted mineralisation in outcropping areas adjacent to the tenement.
Dynasty Metals Australia Limited
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