SMI’s objective is to advance its iron ore projects, specifically, those closest to LIM’s existing operations. LIM’s DSO deposits form part of the 250 million tonnes of historic reserves and resources previously identified by IOC, the former operator in the Schefferville area. Today, LIM has a total NI 43-101 compliant resource of 54.8 million tonnes at 57% Fe, of which 16 million tonnes at 56% Fe are held within SMI’s properties. In addition, LIM has 108 million tonnes at 61% Fe of historic resource, of which 52 million tonnes at 61% Fe are held within SMI’s properties.
(as of March 31, 2014)
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SMI is a wholly-owned subsidiary of Labrador Iron Mines (LIM) whose deposits form half of the 20 direct shipping iron ore deposits owned and operated by LIM. Further information on LIM’s operations and projects can be found at www.labradorironmines.ca.