That would all depend on how many deer are in the area. In order to know that you probably should have a camera set up near your bait pile. Honestly, putting out only 1/4 of a 50lbs bag probably won't last the night. I would have dumped the whole bag myself. Not only will the deer eat it but so will just about any other critter in the area once they find it. I would give it a few days and check on how much was eaten.
Mineral licks are best used to help promote healthy antler growth and they normally take a while to establish. I would recommend you start those in the late winter to early spring and replenish it every 2-3 months. They really work best if you find an area that is sandy so that when it rains it melts into the soil. Then keep putting the blocks in the same place each time. The deer will paw the ground to get at those minerals. Not saying your waisting your time and money with this block but have a plan for next season by finding the best spot to start a mineral station. I would also advise not hunting over your mineral stations. Allow the deer their space where they are less likely to encounter human activity if you want to reap the full benifits. If they get spooked out of there to many times they will be less likely to visit it and that's what you don't want.
Good luck