Dynasty Metals Limited announced that drilling at 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 in the Spearhole Prospect exceeding 15 meters thickness from the surface, over an area of 8.4 square kilometers. 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 detrital and iron pisolites over deep zones with wide intercepts (up to 40 meters) from surface.

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.

Dynasty has completed the first phase drilling of 305 holes totaling 9,979 meters at Prairie Downs, the majority of which was on the Spearhole Channel Deposit. Assay results from the program are awaited.