Business
Progress reports - Labrador and Parys Mountain
Progress reports - Labrador and Parys Mountain.
About this update from Anglesey Mining Plc
[{"type":"text","content":"\n \nAnglesey Mining plc LSE:AYM\n\n3 July 2008\n\n\nEncouraging progress reports from Labrador and Parys Mountain\n\nAnglesey Mining plc (the company) is pleased to report today on excellent\noperational progress in Labrador and also in respect of the Parys Mountain sale\nannounced on 10 April 2008.\n\nThe Schefferville report which follows has been extracted from an announcement\nmade in Toronto on 2 July 2008 which also dealt with the approval and\npublication of the Labrador annual financial statements, which are available on\nSEDAR at http://www.sedar.com. The company has a 50% ownership interest in the\nLabrador operations.\n\nSchefferville Project Moving Forward\n\nLabrador Iron Mines (LIM) is focused on the development of direct shipping iron\nore in the Labrador Trough, in the Province of Newfoundland and Labrador, near\nSchefferville, Quebec (the \"Schefferville Project\").\n\nFollowing the IPO, LIM commenced plans to complete a program of verification\ndrilling and bulk sampling on certain of the properties and the calculation of a\ncompliant mineral resource, leading to the undertaking of a detailed engineering\nstudy of mining these hematite deposits to produce \"direct shipping\" lump and\nsinter fine ore, which will require minimal processing, for sale to European and\nFar Eastern steelmakers.\n\nDuring the ensuing months, LIM expanded its management and operating team with a\nnumber of senior appointments, initiated further activities to advance the\ndevelopment stages of the Project and awarded various contracts, including\nenvironmental baseline studies, detailed exploration drilling, bulk sampling,\nresource estimation, metallurgical process testing, rail and port studies and\nengineering design, all directed to move the Schefferville Project forward\ntowards initial production targeted for 2009.\n\nSNC-Lavalin, in conjunction with Geostat and with participation by the Labrador\nInnu Development Limited Partnership, has been awarded a contract for a Resource\nand Engineering Study, including detailed engineering design and specifications\nfor major items of plant and infrastructure. This will include metallurgical\ntest-work aimed at the design of a process circuit required to meet market\nspecifications for the particular types of iron ore.\n\nA major reverse circulation drilling contract has been let to Cabo...