re: Ann: Drilling update No.18 - Agbaja Iron ...
Adding-in the data from the latest ann (No.18), for the 372 holes released so far, I have an avg depth of 18.7m, at an avg grade of 40.2%Fe.
Using that as a base, an SG of 2.8, and virtually no cut-off grade, potential tonnages are as follows:
Results released (372 holes) - 370Mt Drilled, to be released (183) - 182Mt To be drilled (136) - 135Mt Not open (98) - 98Mt
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 785Mt (550Mt indicated and 235Mt 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.
EIO Price at posting:
17.5¢ Sentiment: Buy Disclosure: Held
