Houston Lake Mining Drills 16 Metres Grading 6.44 g/t Gold at the Dubenski Property
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Gold Mineralization Now Verified in Drilling for 315 Metres along Strike
Fire Assay Results Pending on another 410 Drill Core Samples
SUDBURY, Ontario--(Business Wire)--
Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking
gold, platinum group and rare metal deposits in Ontario, is pleased to announce
results from the first 9 holes of an 18 hole, 2,000 metre (6,560 ft.) Phase III
diamond drill program from the Company`s 100 percent optioned Dubenski Property
located near Kenora, Ontario (see Table 1). Another 410 drill core samples have
been shipped for fire assay analysis to complete the current program. Results
are expected in 6 to 8 weeks.
"Drilling has confirmed the extension of the Dubenski Mineralized Zone for 315
metres with gold results pending on additional 50 metres of strike length,"
commented E. Grayme Anthony, President and Chief Executive Officer. "It now
appears that the Shaft, Central and East Zones may form one large and continuous
gold mineralizing system. which has tremendous implications for adding tonnage
at Dubenski. Based on our Phase II and III drilling results we will be updating
the resource calculation."
Table 1. 2009 Core Length Drill Hole Intercepts, Dubenski Mineralized Zone
Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)
DB-09-40 55.50 70.20 14.70 1.41 48.22 0.041
Incl. 66.00 69.10 3.10 3.31 10.17 0.097
Incl. 66.00 66.80 0.80 6.53 2.62 0.190
DB-09-41 133.60 151.30 17.70 1.12 58.06 0.033
Incl. 148.50 151.30 2.80 3.33 9.18 0.097
Incl. 148.50 149.50 1.00 5.37 3.28 0.157
DB-09-42 19.00 31.00 24.50 0.84 39.37 0.025
Incl. 25.80 31.00 5.20 1.57 17.06 0.046
Incl. 25.80 26.70 0.90 2.73 2.95 0.080
DB-09-43 19.60 31.30 11.70 1.36 38.38 0.040
Incl. 26.30 31.30 5.00 2.08 16.40 0.061
Incl. 26.30 27.30 1.00 4.05 3.28 0.118
DB-09-44 15.00 27.00 12.00 1.25 39.36 0.037
Incl. 17.00 18.00 1.00 2.39 3.28 0.070
Also 22.10 27.00 4.90 1.59 16.07 0.046
DB-09-45 8.20 25.40 17.20 2.52 56.42 0.074
Incl. 8.20 17.00 8.80 3.97 28.86 0.116
Incl. 8.20 13.50 5.30 6.04 17.38 0.176
Incl. 8.20 11.00 2.80 11.21 9.18 0.327
Incl. 8.20 9.00 0.80 36.71 2.62 1.071
DB-09-46 41.85 52.85 11.00 1.27 36.08 0.037
Incl. 41.85 44.30 2.45 3.11 5.08 0.091
Incl. 41.85 42.60 0.75 6.29 2.46 0.183
DB-09-47 73.10 112.00 38.90 2.79 127.59 0.081
Incl. 73.80 89.80 16.00 6.44 52.48 0.188
Incl. 81.00 89.25 8.25 10.89 27.06 0.318
Incl. 81.00 85.00 4.00 17.19 13.12 0.501
Incl. 82.00 83.00 1.00 35.25 3.28 1.028
DB-09-48 140.40 148.70 8.30 1.03 27.22 0.034
Incl. 147.30 148.70 1.40 3.73 4.59 0.109
Incl. 147.30 147.55 0.25 7.29 0.82 0.213
Drill hole DB-09-40 is the first hole to test the Central Zone while DB-09-41 is
the first to test the East Zone. In both cases, the gold mineralization
coincides with highly altered rocks strikingly similar to that encountered in
Phase I and Phase II drilling of the Shaft Zone. Holes DB-09-42 to DB-09-48 were
designed both to infill drill sections and to further extend the Shaft Zone.
Results from a total of 290 drill core samples were returned with values ranging
from trace to 36.71 g/mt gold (1.071 oz/st Au). Drill hole DB-09-47 recorded the
best intercept of 16.00 metres grading 6.44 g/mt gold (52.48 feet grading 0.188
oz/st Au) and including 4.00 metres grading 17.19 g/mt gold (13.12 feet grading
0.501 oz/st Au). A total of 410 drill core samples have been sent for fire assay
and results are pending.
Table 2. Collar Locations for 2009 Drill Holes, Dubenski Property.
Drill Hole Number Northing Easting Collar Dip Azimuth Drill Hole
(Metres) (Metres) (Degrees) (Degrees) Length
DB-09-40 1959.0 2450.0 -60.0 360 125 m 410.00 ft
DB-09-41 1942.0 2550.0 -60.0 360 161 m 528.08 ft
DB-09-42 1985.0 2430.0 -45.0 354 68 m 223.04 ft
DB-09-43 1986.0 2450.0 -45.0 354 76 m 249.24 ft
DB-09-44 1992.5 2365.0 -45.0 354 59 m 193.52 ft
DB-09-45 1988.5 2415.0 -45.0 354 53 m 173.84 ft
DB-09-46 1941.0 2250.0 -45.0 354 92 m 301.76 ft
DB-09-47 1945.0 2235.0 -45.0 360 125 m 410.00 ft
DB-09-48 1965.0 2560.0 -45.0 360 167 m 547.76 ft
The above table illustrates collar locations for the first nine holes of the
program. The holes were drilled at 45 and 60 degrees and the results are
reported as core lengths. True widths are assumed to be respectively 70.7 and
50.0 percent of the reported core lengths.
Drilling by Houston Lake in winter of 2008 has defined the Shaft Zone for a
strike length of 60 metres (197 feet) and to a depth of approximately 100 metres
(328 feet). Phase II drilling has traced the gold mineralized rocks of the Shaft
Zone for a total strike length of 170 metres (557 feet). Nine of 18 Phase III
drill holes were planned to complete drill sections initiated in Phase II
drilling and succeeded in extending this zone to 215 metres (705 feet) along
strike. The Phase III drill program also initiated investigation of the Central,
East and Far East Zones. Over 365 metres (1,197 feet) of strike length of the
Dubenski Mineralized Zone, a 1,700 metre (5,576 foot) long corridor of high IP
chargeability, has now been tested.
About the Dubenski Property
The Dubenski property is one of eight contiguous properties comprising the
Company`s 100% owned and optioned 1,674 hectare (4,135 acre) West Cedartree Gold
Project located near Kenora, Ontario. The project area encompasses three zones
hosting gold resources at Angel Hill (NI 43-101 compliant), Dogpaw Lake No. 1
Vein (historic) and Dubenski Shaft (NI 43-101 compliant).
The Dubenski property contains an historic resource which was reported to extend
to a depth of 150m (492 ft.) and includes the Shaft, Central and East Zones.
Consulting geologists Watts Griffis and McOuat (WGM) of Toronto were contracted
to carry out a technical review of the Dubenski Property and design and
supervise a definition drilling program in order to prepare a NI 43-101
compliant Mineral Resource estimate for the Dubenski Shaft Zone portion of the
historic gold resource (see Company Press Release dated January 16, 2009). The
categorized Mineral Resources at a 1.0 g Au/t cutoff are:
Table 2. Summary of Shaft Zone Mineral Resource Estimate
(Cutoff of 1.0 g Au/t)
Category Tonnes Au (g/t) Ounces Au (g/t) Ounces
(uncapped) (uncapped) (capped) (capped)
Indicated 177,400 7.32 41,750 5.97 34,050
Inferred 118,700 5.63 21,500 5.02 19,150
Notes: Au is capped at 50 g/t, assumed gold price was US$650/ounce
The NI 43-101 report is now available at www.sedar.com and at the Company`s
website at www.houstonlakemining.com .
Due Diligence
All samples reported were shipped to TSL Laboratories, an ISO accredited
facility, of Saskatoon, Saskatchewan. Samples 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.
Bryan McKay, P. Geo., Independent Consulting Geologist and E. Grayme Anthony, P.
Geo., President of the Company, are the Qualified Persons 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 34,147,638 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.
www.houstonlakemining.com
Houston Lake Mining
E. Grayme Anthony P.Geo., MBA
President and CEO
Tel: 705-897-7622
Fax: 705-897-7618
ganthony@vianet.on.ca
or
In Canada:
Linx Partners Ltd
Wanda Cutler, 416-303-6460
or
In United States:
ICS
George Duggan, 818-542-6880
Copyright Business Wire 2009
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