(MENAFN- ProactiveInvestors - Australia) Dynasty Metals' (ASX: DMA) recently completed 220 line kilometre ground magnetic survey over its E52/2591 tenement in Western Australia's Pilbara region has defined several areas with anomalous magnetics.
These areas have characteristics consistent with buried Marra Mamba formation, a key banded iron formation deposit in the Pilbara.
The most promising of these is consistent with an extension of the formation across a northwest trending fault that if proven could hold similar high grade material as reported in historical drilling to the south east of the tenement, including 76 metres at 62% iron.
A 30 hole drill program is being designed to test the main target prior to the end of the year if government and traditional owner approvals are granted.
E52/2591 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 and being in the vicinity of BHP Billiton's (ASX: BHP) world class Mt Whaleback and Jimblebar mines
The tenement is located within 25 kilometres of QRN's proposed rail corridor, which aims to service a number of small to medium iron ore producers in the East Pilbara region, and just 60 kilometres east of Dynasty's Prairie Downs Project and Spearhole Deposit.
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