🕐29.03.11 - 14:54 Uhr
Anglesey Mining - Independent review of LIM’s Houston deposits increases resou
rce estimate to over 22 million tonnes
Anglesey Mining plc    LSE:AYM
29 March 2011
_Independent review of LIMâs Houston deposits increases resource estimate to
over 22 million tonnes_
Anglesey Miningâs 41% owned associate Labrador Iron Mines Holdings Limited
(TSX: LIM) is pleased to report that an independent resource estimate of the
Houston deposits has increased the Measured and Indicated resource estimate
to in excess of 22 million tonnes, from the 19.5 million tonnes previously
reported.
This independent review of the Houston deposits, part of LIMâs direct
shipping iron ore projects in Western Labrador and North-Eastern Quebec near
Schefferville, was carried out by Maxime Dupéré, P.
Geo.
of SGS Canada Inc
(âSGSâ) who is a Qualified Person and independent of LIM within the meaning
of National Instrument 43-101 â Standards of Disclosure for Mineral Projects
of the Canadian Securities Administrators.
The SGS Technical Report has been
filed on SEDAR and can be viewed on the LIM website.
SGS conducted its review using the same data and block model as that
utilized by LIM in its in-house report on the Houston resource estimate
dated February 11th, 2011 (See LIM Press Release February 11th, 2011).
 SGS
used different interpolation and classification parameters, which resulted
in a 13% increase in the total tonnage and a slightly lower (<1%) iron
grade.
The increase in tonnage was more significant in the Measured
category.
A summary of the new resource estimate compared to that previously reported
by LIM is shown in the table below.
The detailed resource estimate is shown
on the LIM website.
Class
Tonnes
Fe
Mn
SiO2
Tonnes
Fe
Mn
SiO2
x 1000
%
%
%
T x 1000
%
%
%
Fe Ore
Measured
17,800
57.9
0.8
12.9
9,873
59.2
0.6
11.5
Indicated
3,340
55.7
0.9
16.7
8,710
57.7
0.8
13.6
Inferred
690
54.9
0.8
18.2
1,014
55.9
1.0
16.5
Mn Ore
Measured
900
53.6
5.0
10.6
566
54.2
5.7
9.0
Indicated
130
52.7
5.1
11.2
351
54.5
4.8
9.8
Inferred
-
-
-
-
10
52.4
4.3
11.8
Total
Measured
18,700
57.7
1.0
12.8
10,439
58.9
0.9
11.3
Indicated
3,470
55.6
1.1
16.5
9,060
57.6
1.0
13.5
Inferred
690
54.9
0.8
18.2
1,024
55.8
1.0
16.5
M & I
22,170
57.4
1.0
13.4
19,499
58.3
0.9
12.3
Commenting on this independent resource estimate at the Houston deposits,
John F.
Kearney, Chairman and CEO of Labrador Iron Mines said, _âIt is
particularly encouraging that this independent review has confirmed a larger
resource at what is becoming one of LIMâs major deposits. This SGS review
reinforces our plans to initiate detailed design and engineering studies to
evaluate the options of a new processing plant to treat ore from the Houston
deposits.â_
The Houston deposits remain open along strike particularly to the southeast
and SGS has made recommendations for further drilling to test these possible
extensions.
_About Labrador Iron Mines Holdings Limited (LIM)_
LIMâs Schefferville Area project involves the development of twenty direct
shipping iron ore deposits in western Labrador and north-eastern Quebec near
Schefferville, Quebec.
The Companyâs 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 stages, the first phase of Stage
1 comprising the James and Redmond deposits, which are located in close
proximity to existing infrastructure, and for which all operating permits
have been issued and plant construction and mine development is nearing
completion.
For further information, please view [1]www.labradorironmines.ca.
Links:
1.
http://angleseymining.us2.list-manage.com/track/click?u=b2509bf4262d15b1a66d37bc4&id=998f612898&e=ba26fee041
 About Anglesey Mining plc Â
Anglesey Mining with its LSE main board listing is primarily focused on its
41% interest in Labrador Iron Mines (TSX: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.
Â
For further information, please contact:
Bill Hooley, Chief Executive +44 (0) 1492 541981
Ian Cuthbertson, Finance Director +44 (0) 1248 361333
Emily Fenton / Charlie Geller, Tavistock Communications +44 (0) 20 7920 3155
/ +44 (0) 7788 554035
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