LABRADOR – Toronto-based Labrador Iron Mines reports that the latest resource numbers at its Houston and Knob Lake iron deposits in western Labrador continue to improve.
The updated estimate of the Houston deposits has confirmed the measured and indicated resources of 23 million tonnes at a grade of 57.2% Fe, compared to 22 million tonnes at a grade of 57.3% Fe previously reported. The inferred resource has also grown to 3.7 million tonnes at a grade of 56.5% Fe from the 690,000 tonnes at a grade of 54.9% Fe. The Houston deposits remain open along strike, particularly to the southeast, and LIM is planning further drilling for 2012 to test for possible extensions and to upgrade the inferred resource.
The new 43-101-compliant measured and indicated resource at Knob Lake is 5.7 million tonnes at 54.2% Fe, a considerable increase over the historic estimate of 4 million tonnes at 48.4% Fe in the inferred category.
More information about LIM’s DSO iron ore project is available at LabradorIronMines.ca.