Trading Statement - Labrador Iron Mines - positive metallurgical test results


 
TIDMAYM 
 
Anglesey Mining plc                                     LSE:AYM 
 
24 November 09 
 
Independent metallurgical tests of LIM's James deposit show positive results 
 
Anglesey Mining plc is pleased to report that its 50% owned associate company 
Labrador Iron Mines Holdings Limited (TSX: LIM) announces that it has received 
results of chemical, physical and metallurgical testing of its  James South lump 
and sinter fines ore which showed excellent metallurgical characteristics that 
should be attractive to steel mills. 
 
The testing was conducted by SGA (Studien-Gesellschaft für Eisenerz- 
Aufbereitung) research centre in Germany, an independent process laboratory 
specializing in iron and steel process testwork. 
 
Bill Hooley, President of LIM commented, "We are very pleased with the results 
from these metallurgical tests carried out by the noted independent laboratory 
SGA.  We are confident that iron ore products of this quality will find a ready 
market in both Europe and the Far East". 
 
The James deposit, which is located within a short distance of the Silver Yard 
marshalling area, is largely pre-stripped and ready for mining and is the first 
of four deposits in LIM's Phase One production plan due to commence in mid-2010. 
 
James South - Lump Ore 
 
The results of the James South lump ore sample indicate that the iron content is 
high at 66.98%, while the content of non-ferrous metals, manganese, phosphorus, 
sulfur, alkaline materials, titanium and vanadium are favourably low. 
 
The high reducibility was evaluated as being superior to the typical ore grades 
available on the European market.  In addition, the physical testing of the lump 
ore resulted in a favourable size distribution with a low amount of fines.  The 
tumbler test revealed well acceptable strength and abrasion for lump ores. 
 
SGA concludes:  "High reducibility was evaluated for James South being superior 
to other ore grades on the European market.  In summary, it can be stated that 
James South ore represents a high quality lump ore grade which will be well 
accepted on the European market." 
 
James South - Sinter Fines 
 
Three series of tests were performed to evaluate the sintering behavior of the 
fines measuring above 0.3mm.  The iron content of the hematitic sample was 
analyzed at 67.23% with favourably low acidic gangue contents of silicon dioxide 
and aluminum oxide in addition to very low levels of manganese, titanium and 
vanadium. 
 
The portion of fines smaller than 0.3mm was only 1.7% which is expected to have 
a positive effect on sinter productivity. 
 
SGA concludes:  "In summary, it can be stated that the tested sample showed 
excellent sintering behavior, clearly improving sintering productivity and 
metallurgical properties of the sinters.  The high iron content and low gangue 
as well as the low portion of fines determine the high quality of this ore 
grade.  Such fines will be well accepted in the market." 
 
Chemical Analysis 
 
SGA reported the following chemical analysis for the two samples: 
 
James Deposit       Total Fe (%)     SiO2 (%)     Al2 03 (%)      P (%)      Mn (%) 
    Lump               66.98         1.81           0.17          0.02        0.09 
    Sinter (+0.3mm)    67.23         1.49           0.17          0.02        0.09 
 
Qualified Person 
Information of a scientific or technical nature contained in this release has 
been prepared by or under the supervision of D. William Hooley, FAusIMM, President 
and Chief Operating Officer of LIM and a Qualified Person within 
the meaning of National Instrument 43-101 of the Canadian Securities Administrators. 
 
About Anglesey Mining 
 
Anglesey Mining plc is a UK based company listed on the London Stock Exchange 
with a 50% interest in a 90 million ton iron ore project in Labrador, Canada, 
which is under active development towards mining production in 2010. The company 
also holds the Parys Mountain base metals project with a historical resource of 
7.7 million tonnes at 9.3% combined copper, lead and zinc in Anglesey, UK. 
 
For further information: 
Bill Hooley, Chief Executive            +(44) 1492 541981 
Ian Cuthbertson, Finance Director       +(44) 1248 361333

Anglesey Mining (LSE:AYM)
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