Houston Lake Mining Continues to Define More Gold Mineralization at West Cedartree
18 Settembre 2008 - 5:55PM
Marketwired
Houston Lake Mining Inc. (TSX-V: HLM) (PINKSHEETS: HLKMF), an
advanced exploration company seeking gold, platinum group and rare
metal deposits in Ontario, is pleased to provide assay results from
a portion of a recently completed 34 hole, 3,209 metre (10,526
foot) drill program on its Dogpaw Lake property. Dogpaw is one of
eight contiguous properties forming the Company's West Cedartree
Gold Project near Kenora.
The delineation drill program seeks to upgrade a portion of the
Dogpaw No. 1 Vein historic resource of 53,741 tonnes grading 15.43
g/mt gold (59,239 tons averaging 0.450 oz/st gold) to modern
standards. The first 22 holes of this program have now been
reported and 18 holes intersected significant gold values of 3 g/mt
gold or higher. Results from the remaining 12 drill holes are
expected in the next few weeks and will be announced as soon as
they are available.
-***-
Table 1. Core Length Intercepts for 2008 Drill Holes, Dogpaw Vein No.1
Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)
---------- ----- ----- --- ---- ---- ------
DP-08-69 49.75 51.70 1.95 4.84 6.40 0.141
Incl. 50.50 51.70 1.20 7.86 3.94 0.229
Incl. 51.45 51.70 0.55 13.61 1.80 0.397
Also 89.20 92.45 3.25 4.31 10.66 0.126
Incl. 89.20 91.30 2.10 4.92 6.89 0.143
Incl. 89.80 90.65 0.85 6.99 2.79 0.204
DP-08-70 79.20 79.70 0.70 1.41 2.30 0.041
Also 95.95 96.65 0.70 2.03 2.30 0.059
Also 115.40 116.60 1.20 1.73 3.94 0.050
Also 134.80 135.25 0.45 3.12 1.48 0.091
-****-
"We have now received results from 39 drill holes since our
acquisition of the Dogpaw Lake property," said E. Grayme Anthony,
President and Chief Executive Officer. "Fully 32 of these holes
have returned gold grades of 3 grams per tonne or higher. With
results from 26 drill holes yet to be reported, and further
drilling planned, we look forward to a productive and interesting
fall exploration season."
-***-
Table 1 Continued. Core Length Intercepts for 2008 Drill Holes, Dogpaw Vein
No.1
Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)
---------- ----- ------ ---- ---- ---- ------
DP-08-71 99.60 103.90 4.30 6.77 14.10 0.197
Incl. 99.60 102.45 2.85 10.01 9.35 0.292
Incl. 100.95 102.45 1.50 18.43 4.92 0.538
Incl. 101.75 102.45 0.70 37.57 2.30 1.096
DP-08-72 109.85 110.95 1.10 2.78 3.61 0.081
DP-08-73 107.00 107.70 0.70 0.15 2.30 0.004
DP-08-74 137.26 138.77 1.51 2.51 4.95 0.073
Also 146.70 147.50 0.80 3.31 2.62 0.097
DP-08-75 63.80 65.70 1.90 2.49 6.23 0.073
Incl. 65.10 65.70 0.60 3.16 1.97 0.092
DP-08-76 110.30 111.50 1.20 0.04 3.94 0.001
DP-08-77 44.00 45.50 1.50 6.24 4.92 0.182
Also 48.60 52.60 4.00 4.62 13.12 0.135
Incl. 49.50 51.40 1.90 8.97 6.23 0.261
Incl. 49.50 50.50 1.00 10.31 3.28 0.298
DP-08-78 Quartz Feldspar Porphyry Dyke
DP-08-79 28.05 31.80 3.75 1.98 12.30 0.058
Incl. 29.30 31.80 2.50 2.84 8.20 0.083
Incl. 29.30 30.10 0.80 5.25 2.62 0.153
Incl. 29.30 29.70 0.40 7.37 1.31 0.215
Also 46.15 54.05 7.90 4.71 25.91 0.137
Incl. 46.15 53.10 6.95 5.34 22.80 0.156
Incl. 46.15 48.50 2.35 7.73 7.71 0.226
Incl. 47.93 48.50 0.57 26.02 1.87 0.759
Incl. 50.80 53.10 2.30 7.22 7.54 0.211
Incl. 51.80 53.10 1.30 9.82 4.26 0.287
DP-08-80 63.50 66.40 2.90 12.83 9.51 0.374
Incl. 64.30 66.25 1.95 18.99 6.40 0.554
Incl. 64.95 66.25 1.30 26.15 4.26 0.763
-****-
Drill holes DP-08-69 to DP-08-80 form part of the systematic
testing of the vicinity of the Dogpaw No. 1 Vein historic resource.
The reported drilling tests the vein from a minimum depth of
approximately 32.63 metres (107.04 feet) in DP-08-79 to a maximum
depth of about 103.24 metres (338.65 feet) in DP-08-76 (Tables 1
and 2). Eleven of the twelve drill holes intersected the strongly
altered and silicified meta-gabbroic rocks that typify Dogpaw Vein
No. 1. The 465 drill core samples returned assay results that
varied from trace to 37.57 g/mt (1.096 oz/st) gold. DP-08-71 was
one of the deepest of the reported drill holes and intersected 6.77
g/mt gold over a core length of 4.30 metres (0.197 oz/st gold over
14.10 feet), including 37.57 g/mt gold over 0.70 metres (1.096
oz/st gold over 2.30 feet).
Perhaps the most striking aspect of the assay results is the
ubiquitous intersection of a second anomalous to well-mineralized
gold zone in the hanging wall approximately 20 metres above the No.
1 Vein. Drill hole DP-08-69 illustrates this mineralization
assaying 4.84 g/mt gold over 1.95 metres (0.141 oz/st gold over
6.40 feet. A second hanging wall vein system was also encountered
in the recent drilling of Vein No. 2. This supports the
interpretation that Vein No. 2 is the lateral extension of Vein No.
1.
-***-
Table 2. Collar Locations for 2008 Drill Holes, Dogpaw No. 1 Vein.
Drill Hole Collar Collar Drill Hole
Number Northing Easting Dip Azimuth Length
------- -------- ------- ----- ------- ----------
DP-08-69 5464966.98 436487.38 68.5� 155.9 degrees 125 m 410.10 ft
DP-08-70 5464994.83 436477.51 65.1� 158.8 degrees 158 m 518.37 ft
DP-08-71 5464980.27 436452.18 53.9� 147.9 degrees 131 m 429.78 ft
DP-08-72 5464980.57 436452.03 62.7� 148.9 degrees 146 m 479.00 ft
DP-08-73 5464979.75 436452.45 43.0� 150.6 degrees 113 m 370.73 ft
DP-08-74 5464999.72 436440.88 60.7� 152.4 degrees 191 m 626.63 ft
DP-08-75 5464843.15 436386.02 56.2� 155.9 degrees 86 m 282.15 ft
DP-08-76 5464843.47 436385.79 69.4� 155.8 degrees 125 m 410.10 ft
DP-08-77 5464842.15 436386.81 38.9� 146.1 degrees 65 m 213.25 ft
DP-08-78 5464824.71 436409.10 40.6� 121.5 degrees 59 m 193.57 ft
DP-08-79 5464812.43 436371.69 44.9� 154.9 degrees 65 m 213.25 ft
DP-08-80 5464813.08 436371.23 67.9� 159.0 degrees 80 m 262.46 ft
-****-
The twelve drill holes were drilled at 38.9 to 68.5 degrees to
intercept the 70-degree dipping Dogpaw No. 1 Vein. True widths are
estimated to be 94.6% of the 40-degree, 86.7% of 50-degree, 76.6%
of 60-degree and 64.3% of 70-degree collar dips.
Houston Lake has completed a 14-hole 2,062m (6,560 ft.)
delineation drill program earlier this month. The program aims to
expand the historic resource to encompass a newly identified
western lateral extension, the Dogpaw No. 2 Vein. The No. 2 Vein
has now been defined to a depth of over 140m (460 ft.) and for a
distance of at least 100m (328 ft.) along strike. Logging and
sampling of this new core is expected to recommence next week.
Due Diligence
All samples reported were shipped to TSL Laboratories, an ISO
accredited facility, of Saskatoon, Saskatchewan. Samples taken from
the core of the mineralized zone were analyzed utilizing a screen
metallic assay method. This methodology provides a higher level of
assurance by testing a large quantity of sample (1,000g) and by
monitoring the size distribution of the gold. Samples taken from
the shoulders of the mineralized zone were analyzed by fire assay
utilizing a 50-gram charge. All samples were assayed with an AA
finish and those samples assaying above 3 g/mt gold were retested
utilizing a gravimetric finish. The samples will also be re-checked
at a second qualified laboratory in keeping with the Company's
standard due diligence procedures.
The tonnages, grades, assays and other technical data are taken
from historical records prior to the implementation of NI 43-101.
While the data are believed to have been acquired, processed and
disclosed by persons believed to be technically competent, it is
unverifiable at present.
A qualified person as defined under NI 43-101 has not done
sufficient work to classify the historical estimate as current
mineral resources or mineral reserves. Houston Lake is not treating
the historical estimates as current mineral resources or mineral
reserves as defined in NI 43-101 and the historical estimate should
not be relied upon.
Dean Cutting, P. Geo., an independent consulting geologist, is
the Qualified Person under the guidelines of NI 43-101 for the
technical aspects of this news release.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource
exploration company. The Company is actively exploring for gold,
platinum group metal and rare metal deposits in northwestern
Ontario with a strategic focus on the West Cedartree gold project.
Houston Lake's objective is to become a gold producer by surface
mining its West Cedartree gold project and developing its 100%
owned and optioned properties. The Company has a total of
31,132,215 common shares issued and outstanding. For additional
information, please visit us at www.houstonlakemining.com.
Forward-looking Statements
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release. This
release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address future
production, reserve potential, exploration drilling, exploitation
activities and events or developments that the Company expects are
forward-looking statements. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and those actual results or developments may
differ materially from those projected in the forward-looking
statements. For more information on the Company, Investors should
review the Company's registered filings what are available at
www.sedar.com.
Distributed by Filing Services Canada and retransmitted by
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Company Contacts Houston Lake Mining E. Grayme Anthony P.Geo.,
MBA President and CEO Tel: 705-897-7622 Fax: 705-897-7618 Email
Contact Linx Partners Ltd. Wanda Cutler Tel: 416-303-6460
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