Houston Lake Mining Extends the Dogpaw Mineralized Zone′s Strike Length of Gold Mineralization to 367m From Extending Channel Sampling at Vein 4 on the West Cedartree Gold Project
Houston Lake Mining Inc. (TSX.V: HLM) (Pink Sheets: HLKMF), is an
advanced exploration company which has prospected and strategically
acquired gold, rare metals and platinum group elements projects with the
objective of transitioning into production. HLM is pleased to provide
assay results from new channel sampling over the No. 4 Vein extension on
its Dogpaw Lake Property. Dogpaw is one of eight contiguous properties
forming the Company′s West Cedartree Gold Project near Kenora.
Extensive trenching, washing, and channel sampling on the historical
high grade Dogpaw Lake Property has occurred this past summer. The
target areas for the program were based on grab sample results that HLM
obtained from a regional prospecting program during the spring of 2011.
The new channel samples were taken in the vicinity of previous trenches
1, 2, 3, 4, 5, 6, 11, 32, 33 and the Darby Shear Zone (DSZ).
'The No. 4 Vein represents the strike extension of the high grade Dogpaw
gold resource based on the previous drilling of No. 1 and No.2 veins. We
are seeking the high grade ounce potential that Dogpaw represents that
could economically justify production on the project,? said Henry
Kloepper, CEO. 'These results extend potential mineralization to
approximately 367m of strike length. Furthermore, surface work
accomplished on the No. 3 Vein to the northeast has revealed a quartz
carbonate alteration zone close to the same volcanic and intrusive
contact as the No. 1, 2 and 4 veins and suggests a possible strike
length of 685m.? said Trevor R. Walker, President. 'Further channel
samples from Vein No. 3 and others on the property have been sent to the
laboratory and results are pending.?
The results ranged from trace to 4.08 grams per tonne gold over 0.35
meters, in the No. 4 Vein Extension. The following table shows the
results and location of all samples >1.0 grams per tonne gold.
Table 1. Summer 2011 No. 4 Extended Vein
Channel Sample Results - Main Trend
Channel Sample Line / Orientation | ? | Length (m.) | ? | Gold (g/mt.) | ? | Length (ft.) | ? | Gold (oz./st.) | |
4 ?Southwest-Northeast (SW-NE) | 2.38 | 2.18 | 7.81 | 0.06 | |||||
Including | 1.40 | 3.50 | 4.59 | 0.10 | |||||
? | ? | ? | ? | ? | |||||
5? SW-NE | 2.53 | 1.67 | 8.30 | 0.05 | |||||
? | ? | ? | ? | ? | |||||
6 ? SW-NE | 1.10 | 1.84 | 3.61 | 0.05 | |||||
? | ? | ? | ? | ? | |||||
8 ? SW-NE | 0.35 | 4.08 | 1.15 | 0.12 |
A total of 93 channel samples have been reported on No. 4 vein and range
from trace to 18.96 g/mt gold (0.55 oz/st gold). Previous sampling under
line 12 had the best intercept of 4.31 g/t gold over 5.50 metres (0.13
oz./st gold over 18.04 ft.).
The No. 4 Vein is interpreted to be the northeastern extension of the
No. 1 Vein and while the No. 2 Vein forms its south-western extension.
Together, the No. 1, No. 2 and No. 4 Veins comprise a single gold
mineralizing system that has been traced for over 367 metres (1,204 ft.)
along strike and to a depth of 230 metres (755 ft.). A historic mineral
resource estimate of 53,741 metric tonnes grading 15.43 g/mt Au (59,240
short tons grading 0.45 oz/st Au) was estimated for the No. 1 Zone in
1944 by Noranda Minerals. Systematic drilling of the No. 4 Vein has been
independently recommended as a prelude to an updated resource
calculation encompassing the Dogpaw gold mineralizing system.
About the Dogpaw Lake Property
The Dogpaw Lake Property has an extensive exploration history dating
back to the 1940′s. Four main gold zones and ten documented gold
occurrences have been discovered thus far on the property. A historic
resource estimate, by Noranda in 1944, of 53,741 metric tonnes grading
15.43 g/t Au (59,240 short tons grading 0.45 oz/st Au) remains after the
extraction of a 454 metric tonne (500 short ton) bulk sample grading
8.23 g/t Au (0.24 oz/t Au) from Vein 1. 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.
HLM has drilled approximately 7000m to test veins 1 and 2, where a
mineralized strike length of 270m has been encountered up to a depth of
230m. A 3D geochem model can be viewed on page 13 of the Investor
Presentation which can be downloaded from the HLM homepage at www.houstonlakemining.com.
The mineralized system remains open to the northeast and at depth. The
best intercept was drilled in Vein 1 by hole DP-2007-42 where it
intersected 7.5m of 29.9g/t gold.
Due Diligence
All samples reported were shipped to Accurassay Laboratories, an ISO
accredited facility, in 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.
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.
Cliff Duke, P. Eng., an independent consulting geological engineer, 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 49,532,637 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 Inc.
Henry Kloepper, CEO
Tel:
705.897.7622
Fax: 705.897.7618