Houston Lake Mining Confirms Identification of Newly Discovered Robertson Gold Zone by Intersecting 42 Metres of .93g/t Gold Including .6 Metres of 6.56g/t on the 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 announce the results from 4
holes of a 2,600 metre, 12 hole exploration diamond drill program on the
Company′s 100% owned and optioned West Cedartree Property. Approximately
1600 metres was drilled on the Dubenski Property and 1000 metres on the
newly discovered Robertson Gold Zone on the West Cedartree Property.
Results are still pending from the drill program.
'These holes are the first set released from our Phase I (Robertson Gold
Zone) program and Phase V Dubenski Gold Zone. The drilling on the
Robertson Prospect was to confirm the indication of a possible gold zone
from past channel samples taken. These first set of holes on the
Robertson have proven to us that we have found anomalous mineralization
and that further exploration is required. Hole WC10-01 shows great
potential for both width at 42 metres, and also bodes well for higher
grade potential intersecting .6 metres of 6.56 g/t. These Robertson
holes targeted the north-south trending altered shear zones. Further
results are pending from the Robertson Gold Zone, and include the
testing of the east-west altered shear zone. We are pleased with our
drilling and are excited at the speculation when we compare what has
been drilled and the extent of unexplored geophysical anomolies on the
Robertson Gold Zone and the parallel Angel Hil Gold Zone. If we look at
what we have drilled thus far and the extent of chargeability highs from
our geophysical coverage, we have a lot of exploration area to
investigate.? A chargeability compilation map that combines results from
IP surveys and the area of the new gold zone is available at http://www.houstonlakemining.com/images/IPchargability_WCP.jpg.
Core Length Drill Hole Intercepts, | ||||||||||||||
Hole Number | From | To | Interval | Au | Interval | Au | ||||||||
WC10-01 | 19.60 | 62.00 | 42.4 | 0.93 | 139.11 | 0.027 | ||||||||
Including | 19.60 | 38.00 | 18.40 | 1.63 | 60.37 | 0.048 | ||||||||
Or | 20.40 | 28.00 | 7.60 | 1.88 | 24.94 | 0.055 | ||||||||
Including | 20.40 | 21.00 | 0.60 | 6.56 | 1.97 | 0.191 | ||||||||
Also | 50.00 | 62.00 | 12.00 | 0.61 | 39.37 | 0.018 | ||||||||
WC10-03 | 53.00 | 56.90 | 3.90 | 0.44 | 12.80 | 0.013 | ||||||||
Including | 80.55 | 80.90 | 0.35 | 2.11 | 1.15 | 0.002 | ||||||||
WC10-04 | 89.70 | 110.60 | 20.90 | 1.04 | 68.57 | 0.033 | ||||||||
Including | 89.70 | 93.70 | 4.00 | 1.33 | 13.12 | 0.042 | ||||||||
DB10-96 | No significant results | |||||||||||||
'Four holes have been drilled on the Dubenski Mineralized Zone to test
the down dip and down plunge of the zone as well for future downhole
geophysical testing in order to aid our interpretation and targeting
efforts of the Zone. Unfortunately the first hole has missed our target,
we feel this is a result of deviation while drilling. Further results
are pending and will be released as soon as possible.
Collar Locations for Drill Holes | ||||||||||||
Drill Hole # | Northing | Easting | Collar Dip | Azimuth | Drill Hole | Drill Hole | ||||||
WC10-01 | 5462798.00 | 435385.00 | -51 | 90 | 62 | 203 | ||||||
WC10-03 | 5462798.00 | 435458.00 | -52 | 270 | 92 | 302 | ||||||
WC10-04 | 5462798.00 | 435349.00 | -52 | 90 | 116 | 381 | ||||||
DB10-96 | 5464045.00 | 438088.00 | -50 | 360 | 395 | 1296 | ||||||
About the Robertson Gold Zone
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. The Robertson Zone at exposed surface is a 60m long by
20m wide stripped and washed area of gabbroic rock which 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
taken in the summer from this area ran up to 2.97 g/t Au over a length
of 0.43 meters. No previous drilling was done on this zone.
About the Dubenski Gold Zone
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 Mineralized
Zone (NI 43-101 compliant).
P&E Mining Consultants of Brampton, Ontario were contracted to prepare a
NI 43-101 compliant Mineral Resource estimate for the Dubenski property
(see press release dated November 5, 2009). The categorized Mineral
Resources are:
Table 1. Dubenski Mineralized Zone | ||||||||||||
Indicated | Inferred | |||||||||||
Cut-Off Au g/t | Tonnes | Au g/t | Au oz. | Tonnes | Au g/t | Au oz. | ||||||
Pit 0.65 g/t | 524,000 | 3.55 | 59,800 | 12,000 | 1.96 | 800 | ||||||
UG 2.5 g/t | 27,000 | 3.26 | 2,900 | 10,000 | 3.32 | 1,000 | ||||||
TOTAL | 551,000 | 3.53 | 62,700 | 22,000 | 2.57 | 1,800 | ||||||
1. | The updated resource for the Dubenski Mineralized Zone was estimated on the basis of the Oct 31/09 24 month trailing average Au price of US$895/oz and $US exchange rate of $0.92. The open pit cut-off grade of 0.65 g/t Au was derived from C$2.50/tonne mining, C$15/tonne processing, C$5/tonne G&A and 95% process recovery. The open pit portion of the resource was defined in a 50 degree slope optimized pit shell. The underground cut-off grade of 2.5 g/t Au was derived from $55/tonne mining, C$15/tonne processing and C$5/tonne G&A and 95% process recovery. | |
2. | Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues. | |
3. | The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category. | |
4. | The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005. |
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 30-50 gram charges. 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 42,497,638 common shares issued and outstanding. 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
Trevor R. Walker, MBA
President
Tel:
705-897-7622
Fax: 705-897-7618