Business
LIM's Houston deposit shows increased resources
LIM's Houston deposit shows increased resources.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc LSE:AYM\n\n29 March 2011\n\nIndependent review of LIM's Houston deposits increases\n\nresource estimate to over 22 million tonnes\n\nAnglesey Mining's 41% owned associate Labrador Iron Mines Holdings Limited\n(TSX: LIM) is pleased to report that an independent resource estimate of the\nHouston deposits has increased the Measured and Indicated resource estimate to\nin excess of 22 million tonnes, from the 19.5 million tonnes previously\nreported. \n\nThis independent review of the Houston deposits, part of LIM's direct shipping\niron ore projects in Western Labrador and North-Eastern Quebec near\nSchefferville, was carried out by Maxime Dupéré, P. Geo. of SGS Canada Inc\n(\"SGS\") who is a Qualified Person and independent of LIM within the meaning of\nNational Instrument 43-101 - Standards of Disclosure for Mineral Projects of\nthe Canadian Securities Administrators. The SGS Technical Report has been filed\non SEDAR and can be viewed on the LIM website.\n\nSGS conducted its review using the same data and block model as that utilized\nby LIM in its in-house report on the Houston resource estimate dated February\n11th, 2011 (See LIM Press Release February 11th, 2011). SGS used different\ninterpolation and classification parameters, which resulted in a 13% increase\nin the total tonnage and a slightly lower (<1%) iron grade. The increase in\ntonnage was more significant in the Measured category.\n\nA summary of the new resource estimate compared to that previously reported by\nLIM is shown in the table below. The detailed resource estimate is shown on the\nLIM website.\n\n SGS (March 2011) LIM (February 2011) \n \n Tonnes Fe Mn SiO2 Tonnes Fe Mn SiO2\nClass \n x 1000 % % % x 1000 % % % \n \nFe Ore \n \nMeasured 17,800 57.9 0.8 12.9 9,873 59.2 0.6 11.5\n \nIndicated 3,340 55.7 0.9 16.7 8,710 57.7 0.8 13.6\n \nInferred 690 54.9 0.8 18.2 1,014 55.9 1.0 16.5\n \nMn Ore \n \nMeasured 900 53.6 5.0 10.6 566 54.2 5.7 9.0 \n \nIndicated 130 52.7 5.1 11.2 351 54.5 4.8 9.8 \n \nInferred - - - - 10 52.4 4.3 11.8\n \nTotal \n \nMeasured 18,700 57.7 1.0 12.8 10,439 58.9 0.9 11.3\n \nIndicated 3,470 55.6 1.1 16.5 9,060 57.6 1.0 13.5\n \nInferred 690 54.9 0.8 18.2 1,024 55.8 1.0 16.5\n \nM & I 22,170 57.4 1.0 13.4 19,499 58.3 0.9 12.3\n \nCommenting on this independent resource estimate at the Houston deposits, Joh...