Dynasty Metals Australia Limited - Drilling Update For the Prairie Downs Project
20.04.2012 | ABN Newswire
Sydney - Dynasty Metals Australia Limited (ASX:DMA) - A drilling program to target buried CID systems in the southern part of the Prairie Downs project (refer Fig 1 on page 2) has commenced following delays due to weather and heritage clearance issues. The program was originally planned to continue on from the exploration drilling targeting potential direct shipping iron ore (DSO) hosting stratigraphy in the northern part of the Project.The drilling is designed to test the extensive alluvial plains which may cover buried CID material which were found by Warwick Resources Ltd (now part of Atlas Iron Ltd (ASX:AGO)) The CID may have been sourced from Hamersley Basins sediments just to the north of the tenements. The drilling is designed to be on a wide spacing along over 20 kilometres line length to determine the potential of the alluvial plains to host iron mineralisation. There are several copper occurrences in the region and the drilling will also be used to evaluate this potential.
The Program is expected to be completed in May 2012 and assay results will be released once available.
Highlights
- Dynasty Metals Australia Limited (ASX: DMA) (Dynasty) has commenced exploration drilling on the Southern leases of Dynasty's flagship Prairie Downs Project, WA.
- RC Drilling program of 2,000m to target buried channel iron deposit (CID) mineralisation and test base metal potential in these areas.
- Dynasty holds large landholding in the target region which is known to contain CID mineralisation (Warwick Resources Limited, now part of Atlas Iron Limited (ASX: AGO), discovered CID material in the adjacent tenements). Drilling should be completed in May 2012 and assay results will be released once available.
To view the complete Dynasty Metals Australia announcment including Figures 1 & 2, please refer to the following link below:
http://media.abnnewswire.net/media/en/docs/ASX-DMA-586122.pdf
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:
Dynasty Metals Australia Limited
T: +61-8-9426-8999
F: +61-8-9426-8900
www.dynastymetals.com.au