Heres a rough high estimate for an exploration target on BMY's Pardoo East DSO iron ore project, i've come up with:
Mathamatic formula used:
Length x Width x Depth x Specific Gravity
Depth of BMY DSO iron ore targets UNKNOWN. Will use average AUS Pilbarra DSO/CID depth guides for depth calculations. Most likely depth would hold deeper thickness. Specific Gravity (SG) of hematite iron ore normally 3.8 to 5.5. Will use a SG of 4 for Fe calculations, so no complaints on over ramping. If anything, this estimate is under ramped, due to under calculated depth, and lowered SG. Calculations based on asuming Pardoo East "does" have DSO quality iron deposits in targets processed by BMY. Calculating Direct shipping ore (dso) only. Tenements may also hold extra/more magnetite tonnage.
Pardoo East - 15 meters depth estimated.
target 1 5000 x 500 x 15 x 4 = 150 Mt
target 2 2500 x 2000 x 15 x 4 = 300 Mt
Opinions welcome, good or bad.
MZN Price at posting:
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