I think it was the savvy Yabo who earlier suggested potential...

I think it was the savvy Yabo who earlier suggested potential investors (e.g., partnershipping steel companies) may be looking for a resource base of 350-500 million tonnes to underwrite their investment risk. (https://hotcopper.com.au/posts/65331610/single)

Spelling it out, Friday's news gives combined figures of 639Mt-772Mt* within the existing Buena Vista Project boundary ...and we know there's plenty more locally beyond that.

So, with a few cautionary caveats ...the Exploration Target Estimate remains for now only conceptual in nature, but still is based on modelling of the recently completed high resolution aeromagnetic survey, calibrated against the existing Resources ...with really a very modest outgoing, that is actually quite a big box tentatively ticked.

There's plenty of room for slippage in numbers of those magnitudes (for grade, or whatever) to still romp it in!

Potential to grow the Buena Vista iron resource to be one of the largest in the western USA.


All I can say is "well done!" to Neil and Marcus Flis.



* The Exploration Target Estimate is approximately 407 to 540 million tonnes at 15% to 22% iron (Fe), exclusive of the existing Indicated and Inferred Resources of 232Mt@ 18.6% Fe (JORC 2012), announced on 23 March 2021.