Ann: Drilling update No.17 - Agbaja Iron Ore Expl, page-4

re: Ann: Drilling update No.17 - Agbaja Iron ... Adding-in the data from the latest ann (No.17), for the 333 holes released so far, I have an avg depth of 18.60m, at an avg grade of 40.35%Fe.

Using that as a base, an SG of 2.8, and virtually no cut-off grade, potential tonnages are as follows:

Results released (333 holes) - 330Mt
Drilled, to be released (222) - 220Mt
To be drilled (136) - 134Mt
Not open (98) - 97Mt

So all up (789 holes), this 15 sq km drill area (in which each 0.1 change in SG equates to approx 28Mt) looks like it could host about 781Mt (550Mt indicated and 231Mt 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 3.6Bt target in my opinion.