Ann: Drilling update No.19 - Agbaja Iron Ore Expl, page-4

re: Ann: Drilling update No.19 - Agbaja Iron ... Adding-in the data from the latest ann (No.19), for the 397 holes released so far, I have an avg depth of 19.0m, at an avg grade of 40.1% Fe.

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

Results released (397 holes) - 401Mt (Target 400 done!)
Drilled, to be released (158) - 160Mt
To be drilled (136) - 138Mt
Not open (98) - 99Mt

So all up (789 holes), this 15 sq km drill area (in which each 0.1 change in SG equates to approx 28.5Mt) looks like it could host about 798Mt (561Mt indicated and 237Mt 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 3.67Bt target in my opinion.

It also worth pointing out that an SG of just 2.5 would still achieve 500Mt now without any further drilling.