Bloom Lake property mineralization style is a deposit typical of the Superior-Lake type.

The Bloom Lake deposits are about 24 km southwest of Labrador City and about 8 km north of the Mount Wright range. The western 6 km of this range contains very large reserves of specular hematite-magnetite iron-formation in a synclinal structure that is regarded as a southwest extension of the Wabush Lake ranges.

The iron-formation and quartzite are conformable within a metasedimentary series of biotitemuscovite-quartz-feldspar-hornblende- garnet-epidote schists and gneisses in a broad synclinal structure. This succession, following the first stage of folding and faulting, was intruded by gabbroic sills which were later metamorphosed and transformed into amphibolite gneiss with foliation parallel with that in adjacent metasediments. Two separate iron-formation units are present; these join northwest of Bloom Lake, but are separated by several dozen meters of gneiss and schist in the southern part of the structure. Quartzite, present below the upper member throughout the eastern part of the area, pinches out near the western end. Folded segments and inclusions of ironformation in the central part of the syncline that are surrounded by amphibolite, are in most cases thought to be part of an overlying sheet that was thrust over the main syncline during the first period of deformation. The large amphibolite mass in the central part of the area was apparently emplaced alo ........

The operation consists of a conventional surface mining method using an owner mining approach with electric hydraulic shovels, wheel loaders and mine trucks. The study consists of resizing the open pit and producing a 20-year life of mine (LOM) plan to feed two plants at a nominal rate of 41.9 Mtpy.

The Project has two main mining areas, the Chief’s Peak and West pits. The Chief’s Peak pit is 2,500 m long by 1,850 m wide at the east end. The starting phase of Chief’s Peak pit is located on the western end. The West pit is 1,890 m long by 950 m wide; it has a narrow southern limb that is 1,300 m long by 200 m wide.

The Chief’s Peak pit has one ramp exit to the north and one ramp exit to the south. Until the first two phases of the Chief’s Peak pit are complete, there will be an additional ramp exit to the north, close to Crusher 1. The southern ramp will also access to the new waste storage facility as well as alternate access for preliminary stripping activities. The West pit has one ramp exit on the northeast wall, one on the east wall, and one in the southern limb.

Phase 2 mine plan does not require any pre-stripping other than the stripping already forecasted in
the current mine plan. Equipment will need to be commissioned prior to the mill start-up, and some additional drilled inventory should be built up prior to the start of the Phase 2 concentrator.

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