Sydney, Nov 5, 2009 (ABN Newswire) - AUDIO: Dynasty Metals Limited (ASX:DMA) announce that drilling at the Spearhole Channel Iron Deposit has identified a deposit of 400 million tonnes and is open and un-tested to the south and southwest.
Drilling has identified a Detrital Channel Iron Deposit ("DID") in the Spearhole Prospect exceeding 15m thickness from the surface, over an area of 8.4km2 (8,400,000m2). Assay results on the bulk of the 9,979 metres in the 305 holes drilled are pending. Preliminary results from the first 30 holes (10% drilled) of northern part of the 400M tonnes initial target confirm persistent intersections of haematite-rich detritals and iron pisolites over deep zones with wide intercepts (up to 40m) from surface.
Follow up test work and assessment is being undertaken on bulk samples of those intersections which show encouraging preliminary results to:
1. assess the beneficiation processes required to remove clay and free silica to produce a high grade iron ore product; and,
2. define which parts of the 400M tonnes target identified so far contain commercial tonnes and grades which could be viable to mine, process and export.
Dynasty's exploration target deposit is of the order of 1 billion tonnes of commercial grade Detrital Channel Iron on its Prairie Downs tenements. This exploration target deposit is in addition to the Bedded Iron, DSO Marra Mamba intersections previously announced.
Malcolm Carson Executive Technical Director TEL: +61-2-9229-2702