Houston Lake Mining Intersects 4.58 g/t Gold Over 1.7 Metres on Dubenski Property PDF Print E-mail

Sudbury, Ontario –June 25, 2010 - Houston Lake Mining Inc. (TSX.V: HLM), is an advanced exploration company which has prospected and strategically acquired contiguous gold properties in Northwestern Ontario with the objective of transitioning into production. HLM also seeks platinum group and raremetal deposits in Northwestern Ontario. HLM is pleased to announce the results from the final 4 holes of a 4,900 metre, Phase IV diamond drill program on the Company’s 100% optioned Dubenski Gold Property.

"These holes conclude our Phase IV program which has demonstrated that the previously named Shaft and Central Zones are in fact a continuous Dubenski Mineralized Zone (DMZ) that is at least 425 metres in length. As well we have further demonstrated that the deposit hosts significant widths with high-grade structures in the gold deposit. In fact with Phases I-IV inclusive, 21% of our holes have proven intersections greater than or equal to 10 grams per tonne gold for a length greater than or equal to 1metre in the DMZ," commented Trevor Walker, President of Houston Lake Mining. "While only drilling to a maximum depth of 130m vertical, we have not tested the deeper potential of this deposit. Our data suggests the mineralization strengthens with depth, therefore the next planned program in 2010 is to target the down-dip and down-plunge extension of the DMZ in order to guide the strong potential to build ounces outside of the existing mineral resource in the future. More specifically, we are in the midst of planning drill holes 100-215 metres below the existing drilling to date. Looking forward, we are excited to display to our shareholders the extent of the DMZ."

Subsequent to a Phase V drilling, HLM plans on updating the resource calculations on the DMZ in order to encompass all drilling since the calculation released on November 5, 2009.

Core Length Drill Hole Intercepts, Dubenski Mineralized Zone

Hole Number
From
(m)
To
(m)
Interval
(m)
Au
g/mt
Interval
(ft)
Au
oz/st
DB10 89
 
111.00
123.60
12.60
1.77
41.34
0.057
Including
113.50
121.30
7.80
2.22
25.59
0.071
Including
114.10
115.80
1.70
4.58
5.58
0.147
DB10 85
 
 
84.75
105.45
20.70
1.60
67.92
0.051
Including
84.75
88.60
3.85
0.98
12.63
0.031
 
90.50
101.00
10.50
2.46
34.45
0.079
Including
92.10
95.20
3.10
3.26
10.17
0.104
DB10 86
 
89.70
110.60
20.90
1.04
68.57
0.033
Including
89.70
93.70
4.00
1.33
13.12
0.042
 
97.70
100.00
2.30
3.74
7.55
0.12
 
109.90
110.60
0.70
2.14
2.30
0.068
Hole Number
From
(m)
To
(m)
Interval
(m)
Au
g/mt
Interval
(ft)
Au
oz/st
DB10 82
 
91.00
111.50
20.50
0.94
67.26
0.03
Including
91.00
92.00
1.00
1.06
3.28
0.034
98.00
101.80
3.80
1.97
12.47
0.063
106.35
111.50
5.15
0.89
16.90
0.028
Including
106.35
106.60
0.25
5.83
0.82
0.187

 

Collar Locations for Drill Holes, Dubenski Property

Drill Hole #
Northing (Metres)
Easting (Metres)
Collar Dip (Degrees)
Azimuth (Degrees)
Drill Hole Length (m)
Drill Hole Length (ft.)
DB10-89
5464230.72
438636.24
360
-45
143
469
DB10-85
5464232.89
438575.80
360
-45
113
371
DB10-86
5464232.30
438590.86
360
-45
119
390
DB10-82
5464220.14
438536.39
360
-45
134
440

 

A map of the drill holes and collar locations are included in the corporate presentation that is available for download on the Houston Lake Mining website at www.houstonlakemining.com. 

About the Dubenski Property
The Dubenski property is one of eight contiguous properties comprising the Company’s 100% owned and optioned 1,674 hectare (4,135 acre) West Cedartree Gold Project located near Kenora, Ontario. The project area encompasses three zones hosting gold resources at Angel Hill (NI 43-101 compliant), Dogpaw Lake No. 1 Vein (historic) and Dubenski Mineralized Zone (NI 43-101 compliant).

P&E Mining Consultants of Brampton, Ontario were contracted to prepare a NI 43-101 compliant Mineral Resource estimate for the Dubenski property (see press release dated November 5, 2009). The categorized Mineral Resources are:

Table 1. Dubenski Mineralized Zone Resource Estimate Utilizing Optimized Pit Shell

 
Indicated
Inferred
Cut-Off Au g/t
Tonnes
Au g/t
Au oz.
Tonnes
Au g/t
Au oz.
Pit 0.65 g/t
524,000
3.55
59,800
12,000
1.96
800
UG 2.5 g/t
27,000
3.26
2,900
10,000
3.32
1,000
TOTAL
551,000
3.53
62,700
22,000
2.57
1,800
  1. The updated resource for the Dubenski Mineralized Zone was estimated on the basis of the Oct 31/09 24 month trailing average Au price of US$895/oz and $US exchange rate of $0.92. The open pit cut-off grade of 0.65 g/t Au was derived from C$2.50/tonne mining, C$15/tonne processing, C$5/tonne G&A and 95% process recovery. The open pit portion of the resource was defined in a 50 degree slope optimized pit shell. The underground cut-off grade of 2.5 g/t Au was derived from $55/tonne mining, C$15/tonne processing and C$5/tonne G&A and 95% process recovery.
  2. Mineral resources which are not mineral reserves do not have demonstrated economic viability. The estimate of mineral resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.
  3. The quantity and grade of reported inferred resources in this estimation are uncertain in nature and there has been insufficient exploration to define these inferred resources as an indicated or measured mineral resource and it is uncertain if further exploration will result in upgrading them to an indicated or measured mineral resource category.
  4. The mineral resources in this press release were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by CIM Council December 11, 2005.

 

Due Diligence
All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples 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.

This news release was reviewed by Bryan McKay, P. Geo., who is a Qualified Person under the guidelines of the National Instrument 43-101.

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 42,497,638 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.
Trevor R. Walker, MBA
Bryce Bradley
President
Tel:416-666-0519
Tel: 705-897-7622
Fax: 705-897-7618

 

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.

 
   
(C) 2006 Houston Lake Mining Inc. - All Rights Reserved.
Website by:  Sandman Media Inc.