A minimization approach to depth and shape determination of mineralized zones from potential field data using the Nelder-Mead simplex algorithm

•A modefied formula to represent the potential field of sources is given.•Minimization of flexible objective function using Nelder – Mead simplex algorithm.•Shape and depth solutions using standard deviations criterion.•Testing the method on synthetic data with and without random noise.•Application of the method on potential field data of well-known ore deposits.