Ann: Drilling update No.15 - Agbaja Iron Ore Expl, page-5

re: Ann: Drilling update No.15 - Agbaja Iron ... Gday Iman, I have added-in the data from the last ann (No.15), and for the 265 holes released so far, I have an avg depth of 17.77m, at an avg grade of 40.57%Fe.

Using that as a base, and an SG of 2.8, potential tonnages are as follows:

Results released (265 holes) - 250Mt
Drilled, to be released (265) - 250Mt
To be drilled (110) - 104Mt
Not open (98) - 92Mt

So all up (738 holes), this 14 sq km drill area looks like it could host about 696Mt (500Mt indicated and 196Mt inferred).

Looking at the rest of the plateau area (approx 70 sq km) covered in this one lease, there's a possibility of a further 3.5Bt target in my opinion.