"Mt Goldsworthy previously mined 55Mt @ 63.5% off an 1,100m anomaly.
Gravity data at Goldsworthy East has delineated two substantial features:
◻️Northern Target: 1,600m strike, 200m wide and depth extent of 450m modelled to occur within 25m of surface.
◻️Southern Target: 1,100m strike, 215m wide and depth extent of 400m, modelled to occur within 30m of surface. (**latest information is that the target does OUTCROP to surface**)
Doing some back of the envelope calculations on these two targets and there is potential for a triple figure DSO deposit with existing infrastructure to port...if all stacks up you would have to think this would be of interest to a few of the major IO producers - although no doubt the Macro team could also take this into production themselves easily enough."
-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Here's my crude back of the envelope calcs:
N.T.: 1600 x 200 x 450 = 144,000,000 cubic metres (based on a 'rectangular tank')
S.T.: 1100 x 215 x 400 = 94,600,000 cubic metres (based on a 'rectangular tank')
So total for both targets is 238,600,000 cubic metres of iron ore (IO) so halving that number to get a very conservative idea of what possibly lies below would still give us 119,600,000 cubic metres of IO
That's 119 million m3 of IO - a very crude conservative estimate.
[Iron ore, hematite bulk 1810-2450 kg per cubic metre]
So let's say 2000 kg per cubic metre for ease (2 tonnes per cubic m)
119 million X 2 = 238 Million TONNES of IRON ORE (hematite) for Goldsworthy East (conservative estimate)
Current IO price is 106 USD/t and is in a long term uptrend (chart says so from 2016 to 2024)
to keep it simple and conservative we'll say 100 USD/t OR 150 AUD/t IO avg price.
238M X 150 = 35,700,000,000 that's $35.7 BILLION AUD for Goldsworthy East in situ value of IO
--------------------------------------------------------------
Sounds like a "pissy little crap area" to me LOL
Are you stupid or just trying to troll?
(20min delay)