A quick note about the map with drill holes. I have assumed some...

A quick note about the map with drill holes. I have assumed some cross sections and drew the major intercepts in dark blue and second tier intercepts as light blue. It was these assumed sections I had used to roughly calculate a theoretical indicated resource component "up to" 4MT. For this I assumed a maximum of 25m horizontal width across the length of my assumed sections. This means I didn't assume the mineralisation existed between each drill traverse when they were greater than 25m apart.

Unfortunately the announcment released by MZM only gave an inferred figure across the whole resource. I had estimated "up to" 10MT inferred using roughly 50 holes, however there were 76 holes drilled in total for a inferred JORC of 13.3MT @ 56%.

This should give an indication of the amount of work required in proving up a resource, and shows that PDY has a long road ahead of them to explore their entire tenure. Makes for a pretty solid argument for an exploration partner or some sort of corporate activity to really get things going.

It should also demonstrate the large potential of the PDY tenure in regards to iron ore alone. The PMJV also the largest coverage of the Narracoota Volcanic formation of any ASX listed explorer which you can read about here as well as an interesting uranium target area I will be writing about in the future.