"Assay results on the bulk of the 9,979 metres in the 305 holes drilled are pending"
"Should this material extend over the full extent of the areas of known surficial occurrences of detrital chanel iron and have a similar thickness to that already drilled, the total exploration target deposit would range from 800 million tonnes to 1,200 million tonnes1"
If the results are as good as expected, then we could see a significant resource upgrade of 100 to 200%.
Surely on the back of this news the share price would be testing new 52 week highs (a gain of 58% from the current share price).
The chairman Ian Levy stated that 80% of the drilling results were remaining on 5th November 2009 (http://abnnewswire.net/multimedia/en/61701/Dynasty_Metals_Australia_limited.html).
Hence the drilling results should be out next week!
DYOR
DMA Price at posting:
24.0¢ Sentiment: ST Buy Disclosure: Held
