1:00PM 31 May 2016
§ Dynasty Resources Limited (ASX:DMA) has five granted exploration licences and ten tenement applications throughout the Eastern Goldfields Province (EGP) of WA, one of the richest gold - producing regions in the world.
§ The EGP is host to around 30% of the world's economically demonstrable reserves of gold having historically produced more than 130 Moz gold.
§ The Tropicana tenements are positioned along strike from the world class Tropicana Project which currently reports a resource of 6.41 Moz of gold. The tenements are adjacent to the “Black Dragon” prospect reporting an extensive geochemical anomaly with surface rock chips assayed at up to 537g/t.
§ The Laverton tenements are in close proximity to production of more than 10 Million ounces of gold at Sunrise Dam and Granny Smith since their discoveries in 1979 and 1986.
§ DMA's strategy is looking to evaluate these applications and identify the best prospects for major mineralisation systems within them. Rapid evaluation to minimise holding and administration costs will enhance the potential for exploration success.
§ In conjunction with this, further opportunities for quality tenement acquisition are also being examined as become available.