🕐23.10.10 - 00:54 Uhr
LIM on target to complete plant construction by year end
22 October 2010 Anglesey Mining plc LSE: AYM
LIM on target to complete plant construction by year end
Anglesey Mining plcs 41% owned associate Labrador Iron Mines (TSX: LIM)
(`the Company or `LIM) is pleased to report on construction progress at
the Companys wholly-owned Schefferville area project in Labrador.
Since
construction began in early September, the rate of advance to date indicates
that the plant and accommodation camp are on track to completion by the end
of calendar 2010.
All equipment and material required for plant construction is now on site,
including the primary and secondary crushers, all conveyors, scrubbers,
screens and stackers.
The primary crusher ramp and retaining wall have been
completed, as well as the foundation for the secondary crusher.
All the
piers for the conveyors have been installed including those leading to the
radial stackers for final lump and sinter product, and to the secondary
crusher.
The steel structure for the secondary screens tower is complete and
the chutes, stairs and flooring for the transfer tower are all installed.
All the major items of equipment are scheduled to be installed by the end of
October, including the primary and secondary screens, tumblers and chutes
and this will enable installation of the dome roof which will permit piping,
electrical and other work to be carried out.
This roof structure is being
assembled at site and is expected to be completed by mid-November.
The accommodation camp at Bean Lake is also advancing rapidly with sewer and
water pipes installed and pads for the kitchen/recreation complex and
accommodation trailers.
By the end of October, the majority of units
comprising dormitories, kitchen parts and containers will be on site with
the remainder due in the following week and installation will follow
immediately.
At the James deposit, timber cover over the North and South Pits, the waste
rock stockpile areas and the settling ponds have been cleared, enabling
construction of the settling ponds and mine haul road which will begin
shortly.
Mine site preparation at the James deposit will be started
requiring very little drilling or blasting, and it is expected that some ore
will be mined this year and stockpiled ahead of the primary crusher.
The 2010 exploration program is successfully nearing completion with 4,000
metres of drilling and 1,400 metres of trenching having been achieved at the
Denault, Ruth 8, and Houston properties.
Drilling at Houston has indicated
some extensions to the resource, and these together with Denault will be
incorporated into revised resource estimates when assay results are
received.
LIM plans to commence production in April 2011, and is targeting production
of 2 million tonnes of iron ore during that calendar year.
Qualified Person
Information of a scientific or technical nature contained in this release
has been prepared by or under the supervision of Terence McKillen, P.Geo.,
Executive Vice President of the Corporation and a Qualified Person within
the meaning of National Instrument 43-101 of the Canadian Securities
Administrators.
About Labrador Iron Mines Holdings Limited (LIM)
LIMs Schefferville Area project involves the development of twenty direct
shipping iron ore deposits in western Labrador and north-eastern Quebec near
Schefferville, Quebec.
The Companys properties are part of the historic
Schefferville area iron ore district where mining of adjacent deposits was
previously carried out by the Iron Ore Company of Canada from 1954 to 1982.
Labrador Iron Mines contemplates mining in four stages, the first phase of
Stage 1 comprising the James and Redmond deposits, located in close
proximity to existing infrastructure, for which all operating permits have
been issued and where construction is now well underway.
About Anglesey Mining plc
Anglesey Mining with its LSE main board listing is primarily focused on its
41% interest in LIM.
In addition to any new projects that may be brought
forward the company owns 100% of Parys Mountain in North Wales with an
historical resource in excess of 7 million tonnes at over 9% combined
copper, lead and zinc.
For further information, please view LIMs website at
www.labradorironmines.ca or contact:
Bill Hooley, Chief Executive +44 (0) 1492 541981 Ian Cuthbertson, Finance
Director +44 (0) 1248 361333 Emily Fenton/Charlie Geller,
Conduit PR +44 (0) 20 7429 6608 / +44 (0) 7788 554035
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