Houston Lake Mining Inc. (TSX-V: HLM) (PINKSHEETS: HLKMF), an
advanced exploration company seeking gold, platinum group and rare
metal deposits in Ontario, is pleased to provide an update on
exploration activity currently under way on the Dogpaw and Dubenski
properties. These properties form part of the Company's 100% owned
and optioned 1,674 hectare (4,135 acre) West Cedartree Gold Project
("WCGP"), located near Kenora, Ontario.
Houston Lake has identified its first gold resource on the WCGP
at Angel Hill in October of 2005. The Company is seeking to upgrade
its second and third gold resources on the project towards the
justification of an onsite mill.
"Our 2008 strategy to delineate additional resources at Dogpaw
and Dubenski has exceeded our expectations," said Grayme Anthony,
President & CEO. "Last year we have defined the down plunge
continuity of the Dogpaw No. 1 Vein historic gold resource and
established that the No. 2 and No. 4 Veins were in fact the lateral
extensions of the No. 1 Vein. The current drill program has
extended the No. 2 Vein gold system to depth and along strike. At
the same time we have stripped and sampled the No. 4 Vein in
preparation for the next phase of drilling.
"With the closing of two recent financings we are well
positioned to advance our excellent land position at West
Cedartree. A NI 43-101 report on Dubenski is expected to confirm
our second historical resource and provide us with new drill
targets."
Dogpaw Lake Property
A 34 hole, 3,209 metre delineation drill program was completed
in May and seeks to upgrade a portion of the Dogpaw No. 1 Vein
historic resource of 53,741 tonnes grading 15.43 g/mt gold (59,239
tons averaging 0.450 oz/st gold) to modern standards. The first ten
holes of this program have been reported and all ten holes
intersected significant gold values of 3 g/mt gold or higher.
Results from the remaining 24 drill holes are expected in the next
few weeks and will be announced as soon as they are made
available.
A new 14 hole, 2,062m (6,560 ft.) delineation drill program
commenced in early July and was completed last week. The program
aims to expand the historic resource to encompass a newly
identified western lateral extension, the Dogpaw No. 2 Vein. The
No. 2 Vein has now been defined to a depth of over 140m (460 ft.)
and for a distance of at least 100m (328 ft.) along strike. A total
of 597 drill core samples from 38 drill holes have been shipped
thus far from the two drill programs at Dogpaw.
Stripping, washing and channel sampling of the Dogpaw No. 4 Vein
has been completed. The No. 4 Vein is interpreted as eastern
extension of the Dogpaw No. 1 Vein. A total of 169 channel samples
have been sent for assay. Two other vein systems on the property
are targeted for stripping and channel sampling as part of this
year's surface exploration program.
Geologic mapping and prospecting along the 6 km (3.6 mile) trace
of the large gabbro sill has been completed and is the subject of a
Masters Thesis being undertaken at Lakehead University. The gabbro
sill is host to the basal McLennan, the internal Angel Hill, and
the upper Dogpaw No. 1 Vein gold zones on the West Cedartree Gold
Project.
Dubenski Property
A 17 hole, 1,798.6 metre (5,899.4 foot) drill delineation
program was completed by spring of 2008. The program targeted a
portion of the Dubenski Shaft Zone historic resource of 355,286
tonne grading 6.32 g/mt gold (322,310 tons averaging 0.184 oz/st
gold). Independent consulting geologists Watts Griffis and McOuat
Ltd. (WGM) supervised the Dubenski drill program and have been
contracted to complete a National Instrument (NI) 43-101 resource
calculation report. A key component of this report is the
interpretation of the controls of gold mineralization which will
assist in guiding the next phase of drilling on the property. The
WGM report is expected later this month.
Drill core from several previous programs has been located and
recovered. This important drill record is currently being
evaluated. Mechanized stripping and washing and channel sampling of
a number of sulphide-bearing outcrops has been accomplished on the
Dubenski property. A total of 82 channel samples have been shipped
to lab. Results are expected are pending.
Due Diligence
All samples reported were shipped to TSL Laboratories, an ISO
accredited facility, of Saskatoon, Saskatchewan. Samples taken from
the core of the mineralized zone were analyzed utilizing a screen
metallic assay method. This methodology provides a higher level of
assurance by testing a large quantity of sample (1,000g) and by
monitoring the size distribution of the gold. Samples taken from
the shoulders of the mineralized zone 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.
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.
Dean Cutting, P. Geo., an independent consulting geologist, 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
31,132,215 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.
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 Linx Partners Ltd. Wanda Cutler Tel: 416-303-6460
www.houstonlakemining.com
Houston Lake Mining Inc. (TSXV:HLM)
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부터 8월(8) 2024 으로 9월(9) 2024
Houston Lake Mining Inc. (TSXV:HLM)
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부터 9월(9) 2023 으로 9월(9) 2024