Houston Lake Mining Announces Potential New Gold Zone is Confirmed by Channel Samples on Robertson Prospect at its West Cedartree Project
Houston Lake Mining Inc. (TSX.V: HLM), is an advanced exploration
company which has prospected and strategically acquired contiguous gold
properties in Northwestern Ontario with the objective of transitioning
into production. HLM also seeks platinum group and rare metal deposits
in Northwestern Ontario. HLM is pleased to report the results of the 100
channel samples taken from 22 lines of surface exploration work which
has identified a potential new gold mineralized zone. This potential
zone is close in proximity to one of the historical Robertson Prospects,
located on the 100% HLM owned West Cedartree Property. A chargeability
compilation map that combines results from IP surveys and the area of
the new potential gold zone is available at http://www.houstonlakemining.com/images/IPchargability_WCP.jpg.
'This identification is in proximity to the largest chargeability
anomaly at the southern limit of HLM′s IP coverage, no drilling has ever
been done in this area. Past experience from drilling on the West
Cedartree Project tells us that the gold mineralization appears to be
closely associated with IP chargeability highs?, said Trevor R. Walker,
President. 'These results confirm our suspicion and warrant further
exploration with diamond drilling. Gold mineralization to the north of
this discovery in the Angel Hill Gold Zone has encountered up to 1.22
metres grading 479 g/t gold. We believe that we may have discovered
another area which creates solid exploration upside and resource
potential for the West Cedartree Project.?
Channel Sample Line / Orientation | Length (m.) | Gold | Length (ft.) | Gold | ||||
(g/mt.) | (oz./st.) | |||||||
1 ? East-West (EW) | 2.70 | 0.84 | 8.86 | 0.025 | ||||
Including | 0.97 | 1.00 | 3.18 | 0.029 | ||||
And | 1.91 | 0.51 | 6.27 | 0.015 | ||||
2 ? EW | 0.61 | 0.61 | 2.00 | 0.018 | ||||
3 ? EW | 0.43 | 1.38 | 1.41 | 0.040 | ||||
4 ? EW | 2.24 | 1.25 | 7.35 | 0.036 | ||||
Including | 0.90 | 1.63 | 2.95 | 0.048 | ||||
And | 1.02 | 0.54 | 3.35 | 0.016 | ||||
5 ? EW | 2.41 | 1.34 | 7.91 | 0.039 | ||||
Including | 0.91 | 1.63 | 2.99 | 0.048 | ||||
6 ? North-South (NS) | 5.82 | 1.37 | 19.10 | 0.040 | ||||
Including | 2.03 | 1.74 | 6.66 | 0.051 | ||||
7 ? EW | 0.79 | 0.82 | 2.59 | 0.024 | ||||
8 ? EW | 2.82 | 1.30 | 9.25 | 0.038 | ||||
Including | 0.91 | 1.71 | 2.99 | 0.050 | ||||
9 ? NS | 1.02 | 0.68 | 3.35 | 0.020 | ||||
Including | 0.61 | 0.50 | 2.00 | 0.015 | ||||
10 ? NS | 4.37 | 0.95 | 14.34 | 0.028 | ||||
Including | 0.94 | 1.66 | 3.08 | 0.048 | ||||
11 ? NS | 1.57 | 1.08 | 5.15 | 0.032 | ||||
12 ? NS | 1.63 | 1.47 | 5.35 | 0.043 | ||||
Including | 0.79 | 1.65 | 2.59 | 0.048 | ||||
13 ? NS | 3.28 | 1.16 | 10.76 | 0.034 | ||||
Including | 1.02 | 1.63 | 3.35 | 0.048 | ||||
14 ? NS | 1.22 | 2.13 | 4.00 | 0.062 | ||||
Including | 0.43 | 2.97 | 1.41 | 0.087 | ||||
15 ? EW | 2.74 | 1.20 | 8.99 | 0.035 | ||||
Including | 0.48 | 2.46 | 1.57 | 0.072 | ||||
16 ? NS | 3.51 | 0.98 | 11.52 | 0.029 | ||||
And | 0.94 | 0.53 | 3.08 | 0.015 | ||||
18 ? EW | 1.02 | 0.70 | 3.35 | 0.020 | ||||
19 ? NS | 1.02 | 0.49 | 3.35 | 0.014 | ||||
20 ? NS | 2.01 | 0.81 | 6.59 | 0.024 | ||||
21 ? NS | 0.91 | 1.43 | 2.99 | 0.042 | ||||
22 ? NS | 1.14 | 0.93 | 3.74 | 0.027 |
The Robertson Zone is now a 60m long by 20m wide stripped and washed
area of gabbroic rock which at surface has three converging shear zones
of silicification and variable amounts of finely disseminated pyrite up
to 1-2%. These converging zones trend NNE, NNW and EW and vary in width
from 3 meters to 20 meters. Channel samples were cut approximately
perpendicular to the strike of each shear zone. A total of 100 samples
from 22 lines on the Robertson Prospect were analyzed by fire assay. The
best sample result to date is 2.97 g/t Au over a length of 0.43 meters
from Line 14. This interval is from a longer sample of 1.22 meters
averaging 2.13 grams per tonne. Note that all NS oriented lines are from
the EW shear zone and it′s northern alteration halo.
With a diamond drill program currently underway on the Dubenski
Property, HLM is planning 400-600m of exploration at this newly
discovered zone. The goal of the current exploration program on the
Robertson Prospect is to delineate additional economic resources on the
West Cedartree Project. The Robertson Prospects have an insignificant
exploration history dating back to the 1940′s. Three showings were known
to have been documented on the West Cedartree Property with minor
indications of gold mineralization.
Due Diligence
All samples reported were shipped to Accurassay Laboratories, an ISO
accredited facility, of Thunder Bay, Ontario. Samples were analyzed by
fire assay utilizing a 30 gram charge. All samples were assayed with an
AA finish and those samples assaying above 3 g/mt gold are retested
utilizing a gravimetric finish.
This news release was reviewed by Bryan McKay, P. Geo., who is a
Qualified Person under the guidelines of the National Instrument 43-101.
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 44,164,304 common shares issued and outstanding exclusive of
the announced financing. For additional information, please visit us at www.houstonlakemining.com.
Forward-looking Statements
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts 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.
Houston Lake Mining
President
Trevor R. Walker,
MBA, 705-897-7622
Fax: 705-897-7618