watso has previously claimed, that the potential at parker range...

watso has previously claimed, that the potential at parker range will be at the lower end of the conceptual target. the conceptual target at parker range was between 5m tonnes and 30 million tonnes. watso has previously provided his quick calculations from the information provided by the first round of drilling by caz.

pol, have just announced an inferred resource from their caina deposit, which was 20m tonnes. the following is from their report

length..... 1.4km

width ......8m to 60 m average 40m

intersected zones averaged 40m

details of 13 holes drilled were reported on april 3

now compare the results with that reported by caz (and gda) at mt caudan (ie parker range iron target)

length..... 1.5km

width.....between 15m and 40 m (watso guesses 25m average)

intersected zones average 25m per hole (over two or three zones).

just using the above comparisons, then

1.5/1.4 x 25/40 x 25/40 x20mtonnes = 8m tonnes

in watso's earlier calculations, he came up with 2.25m tonnes, but stated that one could double or tripple the numbers, to allow for depth extensions. watso used a sg of 2.8, wheras pol have determined that the sg is about 3.2. getting back to watso's earlier calculations, and allowing for a higer sg, and trippling the 2.25m, then the following is determined

3.2/2.8 x 3 x 2.25 = 7.7m tonnes

okay, okay, it is all a bit rough, but the two numbers match quite nicely, and are simply provided to give punters some idea of what to expect- which is basically to expect something at the lower end of the conceptual target.