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Steady Drill Results Continue to Add Value to Houston Lake Mining's West Cedartree Gold Project |
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Steady Drill Results Continue to Add Value to Houston Lake Mining’s West Cedartree Gold Project
24 of 27 Drill Holes Return Values in Excess of 3.00 g/mt Gold
Dogpaw Lake Drill Hole 66 Hits 6.10 Metres Grading 5.09 g/mt Gold
Sudbury, Ontario – July 22, 2008 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to provide assay results from a portion of a recently completed 34 hole, 3,209 metre (10,526 foot) drill program on its Dogpaw Lake property. Dogpaw is one of eight contiguous properties forming the Company’s West Cedartree Gold Project near Kenora.
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. A new 2,000 metre (6,560 foot) delineation drill program that commenced July 5 continues to expand the historic resource to depth and along a newly identified lateral extension (Dogpaw No. 2 Vein).
Table 1. Core Length Intercepts for 2008 Drill Holes, Dogpaw No. 1 Vein
|
Drill Hole
Number
|
|
From
(m)
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To
(m)
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Intercept
(m)
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Gold
(g/mt)
|
Intercept
(ft)
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Gold
(oz/st)
|
|
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|
|
|
|
|
|
|
DP-08-65
|
|
137.90
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141.55
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3.50
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4.31
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11.48
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0.126
|
|
|
Incl.
|
138.75
|
140.55
|
1.80
|
8.24
|
5.90
|
0.240
|
|
|
Incl.
|
139.25
|
140.20
|
0.95
|
13.92
|
3.12
|
0.406
|
|
|
|
|
|
|
|
|
|
|
DP-08-66
|
|
84.50
|
90.60
|
6.10
|
5.09
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20.01
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0.148
|
|
|
Incl.
|
85.70
|
89.80
|
4.10
|
6.52
|
13.45
|
0.190
|
|
|
Incl.
|
85.70
|
86.70
|
1.00
|
13.82
|
3.28
|
0.403
|
|
|
Also
|
88.90
|
89.80
|
0.90
|
12.34
|
2.95
|
0.360
|
|
|
|
|
|
|
|
|
|
|
DP-08-67
|
|
20.00
|
27.15
|
7.15
|
3.56
|
23.45
|
0.104
|
|
|
Incl.
|
20.00
|
23.55
|
3.55
|
6.91
|
11.64
|
0.202
|
|
|
Incl.
|
21.30
|
23.55
|
2.25
|
9.26
|
7.38
|
0.270
|
|
|
|
|
|
|
|
|
|
|
DP-08-68
|
|
39.90
|
43.05
|
3.15
|
1.05
|
10.33
|
0.031
|
|
|
Incl.
|
42.15
|
42.90
|
0.75
|
4.40
|
2.46
|
0.128
|
“Steady gold results win the race at the Dogpaw No. 1 Vein,” said E. Grayme Anthony, President and Chief Executive Officer. “Fully 24 of the 27 holes drilled since 2007 have encountered gold grades of 3 grams per tonne or higher. With results from 20 drill holes yet to be reported and new drilling now under way, we look forward to a productive and interesting second half of 2008.”
Drill holes DP-08-65 to DP-08-68 form part of the systematic testing of the vicinity of the Dogpaw No. 1 Vein historic resource. The reported drilling tests the vein from a minimum depth of approximately 17.20 metres (56.42 feet) in DP-08-67 to the maximum depth of about 125.28 metres (410.92 feet) in DP-08-65 (Tables 1 and 2). All four drill holes intersected the strongly altered and silicified meta-gabbroic rocks that typify Dogpaw Vein No. 1. The 122 drill core samples returned assay results that varied from trace to 17.92 g/mt (0.523 oz/st) gold. DP-08-66 was one of the deepest reported drill holes and intersected 5.09 g/mt gold over a core length of 6.10 metres (0.148 oz/st gold over 20.01 feet), including 13.82 g/mt gold over 1.00 metres (0.403 oz/st gold over 3.28 feet).
A total of 125 drill core samples from Dogpaw Lake as well as 27 channel samples from the adjoining Dubenski property were shipped for assay last week. Results will be announced as soon as they are received.
Table 2. Preliminary Collar Locations for 2008 Drill Holes, Dogpaw No. 1 Vein
|
Drill Hole Number
|
Northing
|
Easting
|
Collar Dip
|
Collar Azimuth
|
Drill Hole Length
|
|
|
|
|
|
|
|
|
|
DP-08-65
|
5,464,970
|
436,403
|
-65.3°
|
158.5°
|
152.00 m
|
498.69 ft
|
|
DP-08-66
|
5,464,972
|
436,429
|
-49.5°
|
160.1°
|
101.00 m
|
331.36 ft
|
|
DP-08-67
|
5,464,915
|
436,451
|
-59.3°
|
154.1°
|
50.00 m
|
164.04 ft
|
|
DP-08-68
|
5,464,966
|
436,488
|
-49.7°
|
160.3°
|
98.00 m
|
321.52 ft
|
The four drill holes were drilled at 50 to 65 degrees to intercept the 70 degree dipping Dogpaw No. 1 Vein. True widths are estimated to be 86.7% of 50 degree, 77.7% of 59 degree and 70.7% of 65 degree collar dips.
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 29,435,246 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com
Company Contacts:
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Houston Lake Mining
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Linx Partners Ltd.
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E. Grayme Anthony P. Geo., MBA
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Wanda Cutler |
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President and CEO
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Tel: 416-303-6460
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Tel: 705-897-7622
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Fax: 705-897-7618
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This e-mail address is being protected from spambots. You need JavaScript enabled to view it
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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
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