Houston Lake Mining Continues to Encounter Gold Mineralization in Channel Sampling at Dogpaw
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SUDBURY, ON, Oct 23 (MARKET WIRE) --
Houston Lake Mining Inc. (PINKSHEETS: HLKMF) (TSX-V: HLM), an advanced
exploration company seeking gold, platinum group and rare metal deposits
in Ontario, is pleased to provide assay results from the remaining
portion of a recently completed stripping, washing and channel sampling
program over No. 4 Vein on its Dogpaw Lake property. Dogpaw is one of
eight contiguous properties forming the Company's West Cedartree Gold
Project near Kenora.
"The No. 4 Vein represents a potential third addition to the Dogpaw gold
resource," said E. Grayme Anthony, President and Chief Executive Officer.
"Our near term exploration goal is to define sufficient gold resources to
justify an on-site mill at West Cedartree. Given the results from our
recent drilling and sampling at Dogpaw and Dubenski, I believe that this
goal is very achievable."
Table 1. Fall 2008 No. 4 Vein Channel Sample Results - Main Trend
Channel Sample Cut, 2 Metre Width Width
in Gold in Gold
Spacing From NE to SW Metres (g/mt) Feet (oz/st)
Line 16 1.40 m. 2.47 4.59 ft. 0.072
Incl. 1.00 m. 3.00 3.28 ft. 0.087
Incl. 0.60 m. 3.91 1.97 ft. 0.114
Line 17 2.10 m. 2.46 6.89 ft. 0.072
Incl. 1.00 m. 4.37 3.28 ft. 0.127
Line 18 2.60 m. 4.47 8.53 ft. 0.130
Incl. 2.00 m. 5.72 6.56 ft. 0.167
Incl. 0.60 m. 7.36 1.97 ft. 0.215
Line 19 1.95 m. 2.97 6.40 ft. 0.087
Incl. 1.40 m. 3.48 4.59 ft. 0.101
Incl. 0.70 m. 4.76 2.30 ft. 0.139
Line 20 0.40 m. 1.18 1.31 ft. 0.034
Line 21 0.40 m. 0.40 1.31 ft. 0.012
Line 22 1.20 m. 4.98 3.94 ft. 0.145
Incl. 0.50 m. 11.05 1.64 ft. 0.322
Line 23. 0.40 m. 0.23 1.31 ft. 0.007
Line 24 0.40 m. 3.94 1.31 ft. 0.115
Line 25 0.60 m. 1.79 1.97 ft. 0.052
Line 26 0.30 m. 1.45 0.98 ft. 0.042
Line 27 2.70 m. 3.98 8.85 ft. 0.116
Incl. 1.60 m. 5.20 5.25 ft. 0.152
Incl. 1.20 m. 6.31 3.94 ft. 0.184
Incl. 0.80 m. 7.76 2.62 ft. 0.226
Line 28 0.20 m. 1.11 0.66 ft. 0.032
Line 29 1.80 m. 5.31 5.90 ft. 0.155
Incl. 0.70 m. 6.60 2.30 ft. 0.192
Line 30 0.50 m. 1.86 1.64 ft. 0.054
Incl. 0.20 m. 2.26 0.66 ft. 0.066
Table 1 illustrates results from the main northeast trend of the
Vein No. 4 gold mineralization. Each channel sample line is cut
perpendicular to the strike of the gold mineralization and the channel
cuts are spaced approximately 2 metres (6.56 feet) apart. A total of 180
channel samples have now been reported and range from trace to 23.85 g/mt
gold (0.696 oz/st gold). A further 37 channel samples have been added to
cover additional veining revealed by fall rains.
Houston Lake completed a 34 hole, 3,209 metre (10,526 foot) drill program
mainly targeting the Dogpaw No. 1 Vein earlier this spring. The first 22
holes of this program have 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.
Houston Lake has subsequently completed a 14 hole 2,062m (6,560 ft.)
delineation drill program in September. The drill 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 currently under
way.
Corporate Strategy
Houston Lake is focused on identifying enough near surface gold resources
to justify an on site mill for the West Cedartree Gold Project. The
project area contains three road accessible resource sites which are
located within a couple of kilometres of one another.
Angel Hill hosts a NI 43-101 quality inferred mineral resource of 106,000
tonnes grading 2.97 g/mt gold (117,286 tons grading 0.087 oz/st) and is
open to depth and along strike (see press release October 20, 2005). The
Angel Hill Gold Zone has been traced by over 2.8km (1.7 miles) by
geophysics (magnetic and IP). Houston Lake controls ground covering a 6 km
(3.6 mile) strike of the favourable geology hosting the gold zone.
The Dogpaw Lake No. 1 Vein hosts an historic resource of 53,741 tonnes
grading 15.43 g/mt gold (59,239 tons averaging 0.450 oz/st gold). The No.
2 and No. 4 Veins have been reinterpreted as the lateral strike
extensions of the No. 1 Vein. The No. 1, No. 2 and No. 4 Veins form a
gold mineralizing system that has now been traced for over 310 metres
(1,016 feet) to include 1997 Drill hole DP-97-22. The gold mineralization
remains open to the maximum depth tested of 210 metres (688 feet).
Further drilling is planned for this coming winter to complete the
resource evaluation at Dogpaw.
The Company is also awaiting an NI 43-101 quality resource estimation
report on a portion of the Shaft Zone on the neighbouring Dubenski
property from consulting geologists Watts Griffis and McOuat. The report
is expected to upgrade a portion of the Dubenski Shaft Zone historic
resource of 355,286 tonnes grading 6.32 g/mt gold (322,310 tons averaging
0.184 oz/st gold) to modern standards. A 2,000m (6,560 ft.) drill program
is planned for this fall to test the down plunge extension of the Shaft
Zone and expand the potential gold resources to a depth of 150m (492
feet).
Houston Lake has commissioned Cook Engineering of Thunder Bay, Ontario to
draw up a plan for environmental studies required for a mining permit
application at all three gold resource sites on the West Cedartree
project.
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 31,148,881 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 that are available at
www.sedar.com.
www.houstonlakemining.com
Distributed by Filing Services Canada and retransmitted by Marketwire
Company Contacts
Houston Lake Mining
Linx Partners Ltd.
E. Grayme Anthony P.Geo., MBA
Wanda Cutler
President and CEO
Tel: 416-303-6460
Tel: 705-897-7622
Fax: 705-897-7618
Email Contact
Copyright 2008, Market Wire, All rights reserved.
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