IRON ORE: Maiden estimate puts Elizabeth resource at 620 million tonnes

LABRADOR – Labrador Iron Mines Holdings of Toronto has released the maiden resource estimate for its Elizabeth taconite project: 620 inferred tonnes at 31.8% Fe, and, says the company, the property has exploration potential for another 350 million to 600 million tonnes.

The resource includes 410 million tonnes of magnetite averaging 32.8% Fe and 210 million tonnes of hematite averaging 29.8% Fe. The Elizabeth deposit lies within the Sokiman iron formation that is part of the Knob Lake Group.

The Elizabeth project is located in western Labrador, approximately 4 km west of LIM's currently producing James iron mine, alongside existing infrastructure, including roads, rail bed and power line corridor.

LIM has several DSO properties in the area. Visit LabradorIronMines.ca for a list and to learn more.