Iron ore focused Dynasty Metals Australia has successfully secured a strategic tenement located near to the vast Mt Newman mining operations in Western Australia's Pilbara region following a strongly contested ballot.

The tenement is adjacent to Dynasty’s vast exploration license E52/2460 and is within an area which is tightly held by some of the world’s largest Iron Ore mining companies such as BHP Billiton, Rio Tinto and FMG.

The new tenement increases Dynasty’s tenement holding for the Prairie Downs Iron Project to 3,722km2 and covers a complex structural zone on the edge of the Hamersley Basin and adjacent to the vast intrusive of the Sylvania Dome. The tenement has recent alluvial which are interpreted to cover an area of potential Marra Mamba Formation.

Dynasty will include this tenement in its future exploration activities and utilise detailed geological mapping, ground magnetic and gravity surveys to identify drilling targets for initial exploration.

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.