Houston Confirms New Robertson Gold Zone from Phase I Drilling and Initial Prospecting Results of over 3 g/t Target Robertson Gold Zone Offset Extension
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.
'These holes are the third and final set released from our Phase I
'Robertson Gold Zone Testing? program and Phase IV 'Dubenski
Exploration? program. The drilling on the Robertson Prospect was to
confirm the indication of a possible gold zone from past channel samples
taken. The holes included here continue to support our theory that we
have found anomalous mineralization and that further exploration is
warranted with drilling. These Roberston Gold Zone holes compliment
October 20th′s release of hole WC10-05 which returned a
drilled intersection of 22.6 metres of 2.047 g/t and included 4.3 metres
of 4.74 g/t. 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 anomalies on the Robertson Gold Zone and the
highly anomalous, extension of the paralleling Angel Hill Gold Zone. If
we look at what we have drilled thus far and the extent of chargeability
highs from our geophysical coverage, we have extensive exploration area
to investigate.? stated Trevor Walker, President of Houston. 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, Robertson
Gold Zone(North South Orientation)
Hole Number | From (m) | To (m) | Interval (m) | Au g/mt | Interval (ft) | Au oz/st | |||||||
WC10-06 | No Significant Values | ||||||||||||
WC10-07 | 64.70 | 66.20 | 1.50 | 0.85 | 4.92 | 0.020 | |||||||
WC10-08 | 37.00 | 38.30 | 1.30 | 1.51 | 4.27 | 0.04 | |||||||
DB10-99 | No Significant Values |
Hole WC10-06 tested the north trending shear zone north of previously
released WC10-05. Drill hole WC10-07 tested the southern extension of
the north trending shear zone on the south side of the east trending
shear zone. WC10-08 tested the east trending shear zone previously
tested by hole WC10-02.
In relation to the Robertson Zone, Houston is pleased that preliminary
results from prospecting of other chargeability anomalies on the West
Cedartree Project have returned some encouraging results. These results
include grades up to 3.18 g/t from geophysical anomalies northeast and
southeast of the Robertson Gold Zone and results up to 2.82 g/t from the
Gold Sun Property. These anomalies can be seen on the above-mentioned
link to the chargeability map. Results from anomalies in other areas,
McLennan and Dogpaw, are pending. Houston is currently finishing off a
strategic grab sampling program designed to test known geophysical
anomalies that have never been investigated on the West Cedartree
Project.
'The prospecting samples in the vicinity of the Robertson Gold Zone
appear to indicate that the chargeability anomaly that defines the zone
continues northward and southward and are offset approximately 200-250
meters by lateral faulting to the east. Anomalous results have been
obtained from an indicated strike length of at least 200 meters.
Additional exploration is independently recommended and may take the
form of diamond drilling simultaneously done with deeper drilling on the
currently drilled Robertson Gold Zone.?
Collar Locations for Drill Holes
Drill Hole # | Northing | Easting | Collar Dip | Azimuth | Drill Hole | Drill Hole | ||||||
(Metres) | (Metres) | (Degrees) | (Degrees) | Length (m) | Length (ft.) | |||||||
WC10-06 | 5462855 | 435370 | -52 | 90 | 128 | 420 | ||||||
WC10-07 | 5462768 | 435373 | -52 | 90 | 87 | 285 | ||||||
WC10-08 | 5462763 | 435385 | -52 | 360 | 101 | 331 | ||||||
DB10-99 | 5464309 | 438094 | -53 | 360 | 161 | 528 |
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 has been 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 based on drill phases I-III are:
Table 1. Dubenski Mineralized Zone Resource
Estimate Utilizing Optimized Pit Shell
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.
The resource calculation does not include Phase IV drilling completed in
March 2010, whereby the strike length of the Dubenski Gold Zone has been
lengthened from 365m to 500m.
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 44,164,304 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