Houston Lake Mining Begins Phase III Drilling at Dubenski Property
12 März 2009 - 4:01PM
Marketwired
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 that a 20 hole, 2,000 metre (6,560
ft.) diamond drill program has begun on the Company's 100 percent
optioned Dubenski Property located near Kenora, Ontario. A total of
62 drill core samples have been shipped for assay analysis thus
far.
"Our initial Phase III drilling has encountered altered rocks
typical of the Dubenski Shaft Zone," commented E. Grayme Anthony,
President and Chief Executive Officer. "It is important to note
that these new intercepts now extend the Dubenski Shaft Zone for a
strike length of over 215 metres (705.2 ft.). We eagerly await
assay results which are expected in 6 to 8 weeks time. Given our
exceptional results to date it will be necessary to update the
resource calculation and we expect to do so following the Phase III
program."
Drilling by Houston Lake last winter 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). The Phase III drill program aims
to further expand the Shaft Zone along strike and to initiate
testing of the East and Central Zones.
Table 1. Selected Core Length Intercepts, Dubenski Shaft Zone, 2008 Drill
Program
Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)
DB-08-15 12.10 51.00 38.90 20.44 127.59 0.596
(-67 degrees) Incl. 13.00 35.00 22.00 35.68 72.16 1.041
DB-08-09 41.00 68.00 27.00 12.95 88.56 0.378
(-45 degrees) Incl. 50.00 58.00 8.00 40.99 26.24 1.196
DB-08-07 102.00 135.00 33.00 12.11 108.24 0.353
(-45 degrees) Incl. 115.00 124.00 9.00 40.70 29.52 1.187
DB-08-06 94.70 132.00 37.30 8.28 122.30 0.241
(-45 degrees) Incl. 102.00 109.00 7.00 35.31 22.96 1.030
The above table illustrates highlights of the winter 2008 drill
program (see Company press release dated May 1, 2008). The holes
were drilled at 45 degrees to 67 degrees and the results are
reported as core lengths. True widths are estimated to be 70.7
percent of the core lengths reported for the 45 degree and 39.1
percent of the 67 degree holes.
Exploration work involving IP surveying along the Dubenski trend
has been completed by Matrix GeoTechnologies of Toronto. The
preliminary geophysical results (chargeability and resistivity)
continue to illustrate the lateral continuity of the Dubenski gold
mineralization. Geophysical responses also increase with depth
suggesting a deep rooted source to the gold mineralization.
Additional IP surveys are slated for March to further define the
Angel Hill, McLennan and Dogpaw Vein No. 1 trends on the adjacent
West Cedartree and Dogpaw Lake properties.
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
33,716,213 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
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 In Canada: Linx Partners Ltd. Wanda Cutler Tel:
416-303-6460 In United States: ICS George Duggan Tel:
818-542-6880
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