Business
LIM – 33% increase in year-end mineral resource
LIM – 33% increase in year-end mineral resource.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc\n\n23 May 2013 LSE:AYM\n\nLIM - 33% increase in year-end mineral resource\n\nStage 2 Mineral Resources Double to 40.6 Million Tonnes\n\nAnglesey Mining's 15% held associate Labrador Iron Mines Holdings Limited (TSX:\nLIM) has today updated its NI 43-101 mineral resource as at its fiscal year-end\nMarch 31, 2013 for the Schefferville/Menihek direct shipping iron ore (\"DSO\")\noperations and projects located in Western Labrador and Quebec.\n\n * At March 31, 2013, LIM's total measured and indicated mineral resource\n (excluding stockpiles) was estimated at 59.5 million tonnes grading 56.7%\n iron (\"Fe\"), a 33% increase from March 31, 2012.\n \n * The measured and indicated resource for the Houston 1, 2 and 3 deposits\n increased to 31.3 million tonnes grading 57.5% Fe, a 37% increase over\n 2012.\n \n * A new measured and indicated mineral resource estimate was calculated for\n the Malcolm-1 deposit, located adjacent to the Houston deposits, totalling \n 9.2 million tonnes grading 57.8% Fe. This represents a significant increase\n over the historical estimate of 2.9 million tonnes grading 56.2% Fe1.\n \n * Overall, the Stage 2 Houston and Malcolm deposits are estimated to contain \n 40.6 million tonnes of measured and indicated resource grading 57.6% Fe.\n \n * The mineral resource for LIM's Stage 1 Silver Yards deposits decreased to \n 18.9 million tonnes grading 54.9% Fe, from 21.7 million tonnes grading\n 55.7% Fe in 2012, due to mine depletion and reconciliation at the\n James Mine.\n \n * An initial mineral resource was estimated for selected historical\n stockpiles, totalling 3.5 million tonnes of indicated resource grading\n 49.1% Fe and 2.9 million tonnes of inferred resource grading 48.8% Fe.\n \nIn addition to the NI 43-101 compliant resource estimates mentioned in this\npress release, a significant amount of historical resources have been defined\non LIM's properties by the Iron Ore Company of Canada (\"IOC\") during its\nhistorical operations in the area.\n\nFor further information on resource calculation methods and resource tables\nplease see www.labradorironmines.ca\n\nAbout Labrador Iron Mines Holdings Limited (LIM)\n\nLabrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolio\nof direct shipping (DSO) iron ore operations and projects located in the\nprolific Labrado...