It appears likely Noront has been drilling like mad the past month to outline potential size of the Chromite deposits (also of course the nickel).

Now 40 or 50 million tonnes is a big deposit as using specific gravity of 4.5 means you need to outline something like 10 million cubic meters of ore.

For argument's sake lets say Noront can prove up average thickness of 20 Meters with average width of 200 meters and length of 600 meters. 20x200x1000x4.5= 18,000,00 tonnes

Yes there are two deposits involved but my point is that we just don't have enough information yet to infer a 40 to 50 million ton resource. Primarily it's the width and length yet to be determined, if width is 300 metres then result: 27 million tonnes, if thickness averages 30 meters then result 30x300x1000 = 40,500,000 tonnes.

Given the fact Noront has two deposits both open in all directions one sure can't rule out a 40 million tonne resource, it sure looks possible. Now we have to wait for drilling to prove it up.

NOTE: proving up an ore body potentially 30metersx300metersx1000metres will take a lot of drilling. The dollar prize at the end would sure be worth the efforth.