Houston Lake Mining Intersects 1.5 Metres Grading 15.98 G/mt Gold at Dogpaw
09 12월 2008 - 11:45PM
Marketwired
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 assay results from
a 3,209 metre (10,526 foot) drill program carried out on its Dogpaw
Lake property. Dogpaw is one of eight contiguous properties forming
the Company's West Cedartree Gold Project near Kenora.
"Fully 76% of the holes we drilled in the Dogpaw 2007/2008
program intersected gold values of 3 g/mt gold or higher," said
Grayme Anthony, President and Chief Executive Officer of Houston
Lake Mining. "This is a truly exceptional set of results. Despite
the intensity of our exploration efforts there remains much to
uncover. Prospecting this fall has identified a number of other
targets of merit on Dogpaw. Meanwhile we are building on last
Winter's drill success at the neighbouring Dubenski gold zone with
a 2,000 metre program."
Table 1 Core Length Intercepts for 2008 Drill Holes 81 to 88,
Dogpaw Vein No.2
DRILL HOLE FROM TO INTERCEPT GOLD INTERCEPT GOLD
NUMBER (M) (M) (M) (G/MT) (FT) (OZ/ST)
DP-08-81 12.10 15.50 3.40 1.69 11.15 0.049
Incl. 12.10 13.95 1.85 2.74 6.07 0.080
Incl. 12.10 12.55 0.45 4.33 1.48 0.126
DP-08-82 14.00 17.00 3.00 2.49 9.84 0.073
Incl. 15.20 17.00 1.80 3.43 5.90 0.100
Incl. 15.20 15.75 0.55 8.72 1.80 0.254
Also 24.50 26.00 1.50 15.98 4.92 0.466
DP-08-83 28.60 29.00 0.40 0.02 1.31 0.001
DP-08-84 23.00 24.00 1.00 0.04 3.28 0.001
DP-08-85 84.90 87.50 2.60 1.66 8.53 0.049
Incl. 84.90 86.50 1.60 2.07 5.25 0.060
Incl. 84.90 85.70 0.80 3.45 2.62 0.101
DP-08-86 85.40 86.00 0.60 0.06 1.97 0.002
DP-08-87 24.50 25.30 0.80 0.01 2.62 0.0003
DP-08-88 12.90 15.40 2.50 3.06 8.20 0.089
Incl. 13.70 15.40 1.70 4.01 5.58 0.117
Incl. 13.70 14.40 0.70 4.98 2.30 0.145
The delineation drill program 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. Results have now been received from two drill programs
completed in 2007 and 2008 targeting the Dogpaw Veins No. 1 and No.
2. A total of 5,271 metres (17,289 feet) of diamond drilling was
completed in 47 holes. Samples values assayed from trace to 435.6
g/mt Au (12.705 oz/st Au). The best result was received from Drill
Hole DP-2007-042 which yielded a core length intersection grading
29.90 g/mt Au over 7.50m (0.872 oz/st Au over 24.60 ft.).
Continuity of the Dogpaw Lake Vein No. 1 system has been
established to a depth of 210 metres (689 feet) and traced along
strike for 310 metres (1,017 feet) to include Veins No. 2 and No.
4.
Table 2. Collar Locations for 2008 Drill Holes 81 to 88, Dogpaw
No. 1 Vein.
DRILL HOLE NORTHING EASTING COLLAR COLLAR DRILL HOLE
NUMBER DIP AZIMUTH LENGTH
DP-08-81 5464787.70 436392.40 48.9* 154.5* 29 m 95.14 ft
DP-08-82 5464788.53 436391.92 70.0* 157.3* 41 m 134.51 ft
DP-08-83 5464776.13 436366.28 39.0* 153.5* 50 m 164.04 ft
DP-08-84 5464777.29 436365.75 67.6* 157.5* 65 m 213.25 ft
DP-08-85 5464831.04 436362.24 67.2* 156.0* 101 m 331.36 ft
DP-08-86 5464820.49 436341.11 47.5* 149.6* 98 m 321.52 ft
DP-08-87 5464752.91 436341.66 39.9* 156.9* 40 m 131.23 ft
DP-08-88 5464823.20 436425.04 40.1* 152.9* 56 m 183.72 ft
The eight drill holes were drilled at 39.9 to 70.0 degrees to
intercept the 70 degree dipping Dogpaw No. 2 Vein. True widths are
estimated to be 94.6% of the 40 degree, 86.7% of 50 degree, 76.6%
of 60 degree and 64.3% of 70 degree collar dips.
Houston Lake has completed a 14 hole 2,062m (6,560 ft.)
delineation drill program in September. The program aims to
continue the expansion of the Vein No. 1 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. Results from this 14 hole program 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
31,148,881 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.
www.houstonlakemining.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 In Canada: Linx Partners Ltd. Wanda Cutler Tel:
416-303-6460 In United States: ICS George Duggan Tel:
818-542-6880
Houston Lake Mining Inc. (TSXV:HLM)
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