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Drilling Commences on the West Cedartree Gold Project |
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Drilling Commences on the West Cedartree Gold Project
Shareholders Strongly Endorse Houston Lake Management at AGM
February 21, 2007: Sudbury, Ontario - Houston Lake Mining Inc. (TSX.V: HLM) is pleased to provide an update on exploration it’s 100% owned and optioned 1310 hectare (3236 acre) West Cedartree Gold Project located near Sioux Narrows, Ontario and to report on proceedings from last week’s Annual General Meeting. The 2500m (8200ft) delineation drill program commenced last Thursday on the 100% optioned Dogpaw Lake Property (“DLP”). As of Monday 4 drill holes have been completed and Visible Gold has been observed in the first hole.
The 25 hole, 2500m (8200ft) drill program aims to infill between historic drill holes on the Dogpaw No. 1 Vein system such that the zone will be tested every 25m (82ft) over a 150m (492ft) strike length. Step out drilling will be systematically test the depth extensions of the No. 1 Vein 20m (66ft) deeper on each successive pass to a maximum depth of 200m (656ft) under the bulk sample pit. Approximately 6,656m (21,831ft.) of core from historic drilling will be re-logged and re-sampled to supplement the systematic coverage. A 30km IP geophysical survey is also scheduled for the end of February. The purpose of the IP survey is to trace the northern strike extensions of the Angel Hill and McLennan gold zones onto to the DLP and to generate additional drill targets on a number of high grade gold-bearing vein systems on the property.
The mining permit application for the Angel Hill Gold Zone has been updated with a revised closure plan and the application will be reviewed by Wardrop Engineering Inc. prior to submission. A 10,000 tonne bulk sample is recommended as the next step in the economic appraisal of the Angel Hill inferred mineral resource (as disclosed in the press release of October 20, 2005).
Independent Consulting Geologist Dean R. Cutting, P. Geo., is the Qualified Person under the guidelines of National Instrument 43-101 and has reviewed this press release in its entirety.
Annual General Meeting
Houston Lake held its Annual General Meeting (AGM) of Shareholders on February 15, 2007 at their Head Offices in Sudbury. Houston Lake is pleased to report that a total of 46.7% of the outstanding shares were voted at the Meeting.
The meeting saw the re-election of the Board of Directors by a unanimous vote of 10,344,188 with 534,099 votes abstaining. The Board of Directors include Chairman Reginald F. Walker, John G. Kelly, P. Eng, Robert J. McLean, C.H.R.P., and E. Grayme Anthony, P. Geo. Sievert, Sawrantschuk & Associates, LLP were ratified as the Auditors of the Company by vote of 10,878,287 in favour with no abstentions.
President and C.E.O., E. Grayme Anthony stated: “Our strategic decision to focus on the West Cedartree Gold Project was rewarded in 2006 by an outstanding year of achievement for Houston Lake Mining Inc. Market capitalization grew from about $5 million a year ago to over $14 million presently. With our land position assembled, exploration infrastructure completed and funds raised we can look ahead to a dynamic 2007. I can say with full confidence that Houston Lake is well positioned to build on the success of the past year towards our goal of gold production at West Cedartree.”
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