Why not 1" ( 3/4") boards, maybe 1 x 6" which might more closely simulate a bone by cracking open.
Frankly, arrows have been tested in plywood, paper, heck, probably stacked pizzas. The only place it really matters is in chest cavity.
Almost any reasonable arrow flying straight when the hit takes place, and leading with a sharp broadhead suitable for the arrow, will penetrate a deer's chest enough to kill it.
Even a 300 grain arrow, which is about half of what I use for deer. Use what you want. Its been done before.
Once again, it appears that we are looking for the least amount of everything needed, instead of the most.
ChuckC