4.62% Lithium Oxide Reported Over 13.9m in Core Zone by OGS
Sudbury, Ontario – September 15, 2009 – Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to announce exploration plans for the Company’s 100% owned 256 hectare (632 acre) Pakeagama Rare Metals Property located approximately 170 km northwest of Red Lake, Ontario.
“Market interest in lithium has made our Pakeagama Rare Metals Property the chief focus of an intense staking rush north of Red Lake,” said E. Grayme Anthony P. Geo., President and Chief Executive Officer. “At this stage we believe we hold the key ground identified by the Ontario Geological Survey (OGS) in their 1998-1999 rare metals evaluation of the region.
While our primary goal remains fixed on advancing our West Cedartree Gold Project, the market interest in rare metals affords the company an opportunity to illustrate the outstanding value contained in this property. Independent geologists have indicated that this is a highly prospective target containing rare metal signatures similar to the Tanco Mine, located in neighbouring Manitoba.
High grade lithium oxide values reported in the Core Zone complement the outstanding exploration potential for tantalum, cesium and rubidium as well as other rare metals on our property. Accordingly, Houston Lake plans a surface exploration program for this fall that will form the basis for a follow up winter drill program.”
The Pakeagama Lake pegmatite is host to the rare metals mineralization on the property. Initial work on the pegmatite by the OGS and The Open University of the United Kingdom consisted of two field seasons of study, 1648 electron microprobe analyses, 50 bulk chemical analyses, 21 analyses of potassium feldspar and X-ray diffraction work conducted upon 30 samples. Initial channel sampling of the Core Zone yielded 13.9 metres grading 4.62% lithium oxide. The results of these studies have been published by the OGS (Open File Report 6000, Summary of Field Work and Other Activities, November, 1999, pp. 26-1 to 26-12). The Summary Report concludes: “The detailed documentation of a variety of tantalum-rich minerals coupled with the presence of pollucite renders the Pakeagama Lake pegmatite and adjoining area one of the best targets for tantalum and cesium exploration in northwestern Ontario.”
Exploration work by Houston Lake to date has consisted of 25.4 km of line-cutting, magnetic and VLF-EM surveys, detailed and property scale geological mapping, stripping and channel sampling. This work has exposed the pegmatite for over 280 metres along strike and the pegmatite may extend an additional 300 metres to a 700 g/t tantalum oxide showing located on the Shore of Pakeagama Lake. Further stripping work has expanded the width to over 125 metres. An adjacent lithium-cesium anomaly may indicate a potential width of 160 metres. These dimensions make the Pakeagama Lake pegmatite one of the largest rare metal petalite pegmatites in Ontario. The pegmatite remains open along strike in both directions. Channel sampling of an 11.0m section of the Northern Wall Zone averaged 1.21% lithium oxide, 0.53% rubidium oxide, 958 g/t cesium oxide, 222 g/t tantalum oxide, 1259 g/t beryllium oxide, 107.0 g/t niobium oxide, 56 g/t gallium, 8.1 g/t germanium, 35.8 g/t thallium, and 120 g/t tin.
Houston Lake plans additional stripping and channel sampling programs this fall that would target the lithium-bearing Core Zone as well as other features partially revealed by a recent forest fire. This work will provide the basis for a drill program scheduled for this winter.
Due Diligence
All sample values reported were analyzed by Activation Laboratories of Ancaster, Ontario using neutron activation for cesium, rubidium, and tantalum, multiacid digestion ICP for lithium, XRF pressed pellet for niobium and tin, lithium metaborate/tetraborate fusion for thallium, gallium, beryllium and germanium. Check assays were analyzed by SGS XRAL Laboratories of Toronto, Ontario.
E. Grayme Anthony, P. Geo., company president, 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 34,657,638 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Company Contacts
|
Houston Lake Mining
|
In Canada: Linx Partners Ltd.
|
|
E. Grayme Anthony P.Geo., MBA
|
Wanda Cutler Tel: 416-603-4646
|
|
President and CEO
|
|
|
Tel: 705-897-7622
|
In United States: ICS
|
|
Fax: 705-897-7618
|
George Duggan Tel: 818-542-6880
|
|
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
|
|
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.
www.houstonlakemining.com
|
