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A fast effective inversion algorithm is proposed herein to interpret gravitational responses caused by mineralized/ore sources (sphere, vertical and horizontal cylinders). The algorithm relies on local wavenumber and correlation imaging techniques. The correlation factor (R) between the local wavenumber of observed gravitational field and that of computed field was calculated, and the maximum Rmax was considered to correspond to the best true model (parameters). The proposed algorithm was applied to two theoretical examples, including an example contaminated with regional background and another multisource example. Besides, the proposed approach was used on three different real field cases for mining/ore investigation from Canada and Cuba. From the results obtained from the theoretical and real examples and by comparing the results with drilling and literature information, it was concluded that the method is effective, is applicable even for more than one source, is accurate, and does not necessitate any prior knowledge of the source shape. [ABSTRACT FROM AUTHOR]