Fingermark, are think that you are way off the mark.
Have a look at the Charmichael Iron ore Book and there are a number of deposits with the same grades e.g. GWR.
Thin narrow deposits, what a load of garbage. The deposit is thick 6 km ling, 500 wide and at edpth of 10-40 metres.
http://www.talismanmining.com.au/pdf/IronOreBook.pdf
more outstanding results, page-3
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