Prospecting block-200acres=2km x 1km minimum expenditure per...

Prospecting block-200acres=2km x 1km minimum expenditure per annum under $10,000 per annum including man hours.

Exploration block-4km x 2km minimum expenditure per annum $50,000 first year and increases to $100,000 every year after for a maximum of 5 years.

So you can see that being a small land holder does not leave you in a detrimental position especially if your tenement has a 500million plus tonne/world class deposit of iron ore.

A mining block is approximatly the same size as a exploration block but requiring alot more approvals and money and more often than not do not exceed 20sqkm.