Houston Flagship Deposit Development Plan
LIM Stage 2: Houston Flagship Deposit
Potential to more than double current production
Large resource
15+ year mine-life
~2.0 mt potential annual
production
Key Development Project
23 million tonnes M+I @57.2% Fe¹
+ 3.7 tonnes Inf @56.5% Fe1 (NI 43-101)
>> More than double the historical resource²
Consistent high quality iron ore product expected
Goal: Establish long-term relationships with
steelmakers
Next
steps
"
☐
Receipt of remaining permits
Development costs Phase 1 $57 million;
(2013 $37 million and 2014 - $20 million)³
Potential credit facilities, strategic
partnerships and/or off-take agreements
Aerial view - Houston Deposit.
Access road tree clearing complete
1 As at March 31, 2012; See Technical Reports filed on SEDAR.
-
2 Historical resource identified by IOC prior to 1983 were not prepared in accordance with NI 43-101 Labrador Iron Mines – TSX: LIM
Subject to market conditions, permitting and financing.
LIM
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