Channel Sampling Expands Gold Mineralization at Houston Lake Mining's West Cedartree Project
09 Oktober 2008 - 7:22PM
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 stripping, washing and channel
sampling program on its Dogpaw Lake property. Dogpaw is one of
eight contiguous properties forming the Company's West Cedartree
Gold Project near Kenora.
The surface exploration is part of a systematic program aimed at
upgrading 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. Veins No. 2 and No. 4 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 280 metres (918 feet). A 1997 Drill hole DP-97-22
occurs along this trend and may extend the gold system for an
additional 30m (98.4 ft.). DP-97-22 intersected 6.57 g/mt gold over
2.3m (0.192 oz/st gold over 7.54 ft.). Drilling at the Dogpaw No. 1
Vein has extended the gold mineralizing system to a maximum depth
tested of 210 metres (688 feet).
-***-
Table 1. Fall 2008 Vein No. 4 Channel Sample Results - Main Trend
-----------------------------------------------------------------------
Channel Sample Cut, 2 Metre Width in Gold Width in Gold
Spacing From NE to SW Metres (g/mt) Feet (oz/st)
Line 1 0.60 m. 2.52 1.97 ft. 0.073
Line 2 1.10 m. 3.18 3.61 ft. 0.093
Incl. 0.30 m. 7.51 0.98 ft. 0.219
Line 3 0.70 m. 2.65 2.30 ft. 0.078
Line 4 2.05 m. 3.32 6.72 ft. 0.097
Line 10 3.70 m. 2.55 12.14 ft. 0.075
Incl. 2.00 m. 3.68 6.56 ft. 0.107
Incl. 0.60 m. 9.84 1.97 ft. 0.287
Line 11 2.50 m. 5.35 8.20 ft. 0.156
Incl. 1.60 m. 6.84 5.25 ft. 0.200
Incl. 1.10 m. 7.41 3.61 ft. 0.216
Line 12 2.70 m. 4.77 8.86 ft. 0.139
Incl. 1.10 m. 6.55 3.61 ft. 0.191
Also Incl. 0.50 m. 6.86 1.64 ft. 0.200
Line 13 3.30 m. 2.26 10.82 ft. 0.066
Incl. 2.60 m. 2.70 8.53 ft. 0.079
Incl. 1.80 m. 3.60 5.90 ft. 0.105
Incl. 1.10 m. 5.48 3.61 ft. 0.160
Line 14 1.80 m. 6.59 5.90 ft. 0.192
Incl. 1.40 m. 8.41 4.59 ft. 0.245
Incl. 0.80 m. 11.66 2.62 ft. 0.340
Line 15 2.75 m. 4.71 9.02 ft. 0.137
Incl. 2.05 m. 6.41 6.72 ft. 0.187
Incl. 1.05 m. 8.55 3.44 ft. 0.249
Incl. 0.10 m. 23.85 0.33 ft. 0.696
Also Incl. 0.25 m. 13.48 0.82 ft. 0.393
-****-
"We continue to be pleased by the steady progress in expanding
the gold system at Dogpaw Lake," said E. Grayme Anthony, President
and Chief Executive Officer. "Now each of our three major targets
for gold resource definition has surpassed expectations. 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 illustrates results from the main northeast trend of the
Vein No. 4 gold mineralization while Table 2 depicts a secondary
east-west trend. 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. The 93 channel
samples reported range from trace to 23.85 g/mt gold (0.696 oz/st
gold). Results from another 87 channel samples from channel cuts 16
to 30 are pending and will be announced when received.
-***-
Table 2. Fall 2008 Vein No. 4 Channel Sample Results - Auxiliary Trend
-----------------------------------------------------------------------
Channel Sample Cut, 2 Metre Width in Gold Width in Gold
Spacing From E to W Metres (g/mt) Feet (oz/st)
Line 5 0.30 m. 1.70 0.98 ft. 0.050
Line 6 0.80 m. 5.73 2.62 ft. 0.167
Also 0.40 m. 8.21 1.31 ft. 0.239
Line 7 1.00 m. 1.43 3.28 ft. 0.042
Line 8 0.30 m. 1.28 0.98 ft. 0.037
Line 9 0.50 m. 0.99 1.64 ft. 0.029
-****-
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 now under way.
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.
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 what are available at
www.sedar.com.
Distributed by Filing Services Canada and retransmitted by
Marketwire
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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