To view Figure 1, please visit the following link: www.labradorironmines.ca/images/Figure-1-Malcolm.jpg.
Other Exploration Work Program Details
LIM was also able to increase the capacity of the mine site sample preparation facilities to allow a better turnaround time in the receipt of assays from off-site laboratories. Actlabs remained as independent managers of the site preparation laboratory and all reduced and pulverized exploration samples were airfreighted to its analytical laboratory in Ancaster, Ontario for multi-element X-ray fluorescent (XRF) assays including Actlabs internal Quality Assurance / Quality Control (QA/QC) procedures.
Ground Geophysical Surveys: Geosig Inc., a Quebec-based geophysical consulting firm carried out a series of ground magnetometer and gravity surveys over several main targets including the Gagnon and Elizabeth taconites and over the James, the Houston, the Malcolm-1 and the Howse direct shipping (DSO) iron ore deposits. The gravity survey covered 48 line-kilometres (line-km) and 1,130 gravity stations were collected. The magnetic survey covered 31.4 line-km and 40,326 measurements were recovered. These surveys have confirmed the validity of airborne gravity anomalies, located the extensions of known ore bodies and suggested the presence of new exploration targets.
Experienced Technical Team
The exploration program has been carried out by LIM's experienced geological team led by Chief Project Geologist Howard Vatcher, supported by Senior Resource Geologist Erick Chavez, Senior Field Geologist Tara Schrama, Senior Project Geologist Adewara Odewande, Project Geologist Shawn Duquet, all under executive supervision of Michel Cormier, Vice President, Exploration.
This release has been prepared under the supervision of Michel Cormier, Vice President, Exploration of the Company and a Qualified Person within the meaning of NI 43-101.
Quality Assurance / Quality Control (QA / QC)
From the beginning of the 2008 RC drilling and trenching programs, LIM initiated a quality assurance and quality control protocol. The procedure includes the systematic addition of in-house blanks, in-house reference standards, field duplicates, and preparation laboratory duplicates to approximately each 25 sample batch sent for analysis at Actlabs facilities.
The historical resources referred to in this press release are based on work completed and estimates prepared by IOC prior to 1983 and were not prepared in accordance with NI 43-101. The Company is not treating any historical resource estimate as a defined current resource verified by a Qualified Person and the historical resource estimates should not be relied upon. However, the historical resource estimates are still considered relevant.
About Labrador Iron Mines Holdings Limited (LIM)
Labrador Iron Mines (LIM) is Canada's newest iron ore producer with a portfolio of direct shipping (DSO) iron ore operations and projects located in the prolific Labrador Trough. Initial production commenced at the James Mine in June 2011, with the sale of 386,000 dry tonnes of iron ore recorded in the first start-up year. The first full production season commenced in April 2012 and LIM sold ten shipments totalling approximately 1.6 million dry tonnes of iron ore. The tenth shipment was sold at the end of November and contained 103,000 dry tonnes of iron ore.
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