Labrador Iron Mines

Holdings Limited

TSX: LIM

Schefferville Area Properties

Howse Deposit

The Howse 1 deposit is located about 25 km northwest of Schefferville with access by way of an all-season road and 700 metre trail to the deposit itself. A network of trails and secondary dirt roads provides access to the remaining area.

Exploration

Howse was one of the last deposits to be discovered by IOC where prior drilling is reported to have comprised about 110 reverse circulation drill holes. LIM has since undertaken prospecting and grab sampling and expects to mine the deposit in the third phase. The property is covered by thicker overburden than any of the other deposits.

Geology
Ore grade material of the Howse 1 deposit is found largely in the Middle (Pink-Grey Cherty (PGC)/Upper Red Cherty (URC) Sub-Member and Lower Red Cherty (LRC) Sub-Member) and Lower Iron Formation (LIF). Members of the Sokoman Formation and in the Jaspilite (JSP) horizon of the Ruth Formation. Drill cuttings found nearby old drill sites indicate that the mineralization is fine grained and of similar characteristics to the Houston deposit.

In the PGC/URC the blue hematite is bright, cindery and vuggy. Martite and sometimes limonite occur. Granules are generally present. The LRC is composed of blocky, massive, cindery blue hematite. It is generally oolitic. In the LIF, massive blue hematite and sometimes red hematite occurs. The JSP horizon is composed of bright to steel grey blue hematite and is rich in martite. Some horizons are granule rich with large deformed granules.