Labrador Iron Mines Holdings Limited (TSX:LIM) announced it has begun its 2012 exploration program at it Labrador and Quebec iron ore properties.
As quoted in the press release:
An exploration budget of $8.6 million has been approved for 2012, comprising 11,280 metres (m) of drilling and 3,600 m of trenching, supported by geophysics, in 12 target areas. This represents the largest exploration effort ever undertaken by the Company.
LIM’s President and COO, Rod Cooper said:
We are extremely excited with this year’s exploration program, which is significantly larger than any previous program executed by LIM and is designed to contribute to the strategic objectives of our Company. Our team has years of experience successfully completing fieldwork programs in the Schefferville area and under the leadership of our recently appointed Vice President of Exploration, Michel Cormier, we look forward to a year of milestone results.