Prairie Downs (WA)

Overview
Prairie Downs is the flagship iron ore project of Dynasty Metals and is located in Western Australia’s prolific iron-producing Pilbara region.
Dynasty is evaluating three types of iron mineralisation at Prairie Downs:

• Detrital Channel Iron deposits which are present in very large tonnages near surface and can be upgraded to marketable grades through simple physical processing.
• Marra Mamba Iron deposits with Direct Shipping Ore (“DSO”) grades of iron.
• Iron-rich basal conglomerate deposits which are not yet drilled.

Less than 1% of Dynasty’s extensive (~3600km2), 100%-owned tenements have been drilled to date.
In parallel with drilling to assess the iron potential of this large holding, Dynasty is implementing studies over the course of 2010 that will provide a better understanding of the options to develop these substantial iron resources and form the basis of a pre-feasibility study.

Resources
In 2009, Dynasty completed an initial 10,000m drilling program at Prairie Downs.
In March 2010, Dynasty announced the following maiden JORC-Compliant Inferred Resources for the Prairie Downs Project:

Inferred Resources - Detrital Iron Deposit

* Detrital Deposit density assumed at 2.4 dry tonnes per cubic metre

Inferred Resources - Marra Mamba Deposit

* Marra Mamba Deposit density assumed at 2.8 dry tonnes per cubic metre

Geology
The complex Hamersley Formation which contains Brockman and Marra Mamba Iron Formations dominates the northern portion of Dynasty’s tenements at Prairie Downs.
Erosion of these major iron formations over the past 2.5 billion years has provided the material for vast deposits of Detrital Iron and Channel Iron.
The Prairie Downs Fault cuts Dynasty’s tenement package in a northwesterly direction and separates the Hamersley Formation from Bangemall Basin sediments to the south. These sediments have a coarse basal conglomerate consisting mainly of clasts of Hamersley Iron Formation rocks, or their equivalent.  Gold and copper mineralisation is present in the region.

Exploration – Detrital Channel Iron Deposits
Detrital Channel Iron mineralisation at the Spearhole improves towards the south and south-east and deepens at the confluence of two channels.
Dynasty’s drilling and the subsequent resource estimate is in the northern, shallower portion of the deposits identified so far
At the Spearhole Prospect, the 2010 exploration program is designed to:

• Complete infill drilling of the 453 million tonne Detrital Iron resource;
• Define high-grade iron zones;
• Provide bulk samples for analysis and further beneficiation testwork; and
• Evaluate the continuation of the Spearhole Deposit to the south and south east.

Dynasty now has an understanding of the geological controls defining the higher-grade zones within the Detritral Channels.  This knowledge is invaluable in assisting accurate drill targeting of these zones in the 2010 program.

Exploration – Marra Mamba and Brockman Iron Deposits
The 2010 exploration program includes drilling of hematite targets () identified from aerial geophysical programs. 
There is good potential that the Marra Mamba and Brockman Iron Formations extend under shallow cover in Dynasty’s tenements.

Exploration – Iron-Rich Basal Conglomerate Deposits
The 2010 exploration program includes initial drill testing of the massive Hamersley Basin derived “basal iron-rich conglomerate” immediately south of the Prairie Downs Fault on Dynasty’s tenements.
The basal conglomerate contains large clasts of Hamersley Iron Formation (or equivalent) within a ferruginous matrix. The iron grade is variable and the 2010 exploration program is designed to test for controls on this mineralisation and for extensions to outcropping higher grade zones.

Project Development Studies
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.
These investigations will form the basis for a pre-feasibility study which is anticipated to commence in late 2010.