Dynasty Metals Australia Limited Announce Board Re-Structure
17.01.2011 | ABN Newswire
09:07 AEST Jan 18, 2011 ABN Newswire (C) 2004-2011 Asia Business News PL. All Rights Reserved.Sydney, Australia (ABN Newswire) - Iron ore exploration company, Dynasty Metals Australia Ltd. (ASX: DMA) (Dynasty), advises that Lewis Tay has ceased being an Executive Director of the Company but remains a Non-Executive Director.
The Board wishes to thank Lewis for his contribution to the management of the company and the evaluation of its assets. In particular, the Board and management acknowledge his contribution to securing finance for the drilling of the Company's main asset, the very large iron ore resources in its Prairie Downs tenements immediately south of BHPB's (ASX: BHP) (NYSE: BHP) Mount Newman iron ore mines in the world famous Pilbara Iron Ore Province.
This exciting project remains the core asset and preparations have already commenced for an extensive drilling project in 2011.
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.
Contact:
Ian Levy
Chairman
Dynasty Metals Australia Ltd
Tel: +61-2-9229-2710
http://www.dynastymetals.com.au