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HOUSTON LAKE MINING INC. (HLM-TSX.V)
PRESS RELEASE
Drilling
Intersects More High Grade Gold Mineralization
Table 1. Drill Hole Results for Holes 8 to 14 (-60° ) on the Angel Hill Gold Zone
Recent work by Houston Lake has focused Angel Hill Gold Zone ("AHGZ"). The AHGZ is one of several gold zones identified thus far on Houston Lake’s 100% owned, 603.6 hectare (1490.9 acre) West Cedartree Gold Project located near Kenora, Ontario. The Company carried out an extensive mechanized stripping, systematic channel sampling and detailed mapping programs over a 130m (426 ft.) segment of the AHGZ in August of 2003. The AHGZ was tested by 77 systematic channel samples which ranged from trace to 71.30 g/t Au (2.080 oz/t) and had a weighted average of 4.04 g/t Au (0.118 oz/t). The current drill program builds upon the detailed surface program and is comprised of 20 holes. The aim of the drill program is to provide the basis for a resource estimate to a depth of 40m (130 ft.) below the stripped area. All samples from the drill program continue to be tested at ALS Chemex Labs of Vancouver, B. C. utilizing fire assay with a 50 gram charge. Independent consulting geologist, Dean R. Cutting, P. Geo. is the Qualified Person on the project. The first seven holes of the program were drilled at 20m (65.6 ft.) intervals along the AHGZ and were oriented perpendicular to the geologic strike of the gold zone (see HLM Press Release dated January 12, 2004). The AHGZ was intersected at a depth of 20-25m (65.6-82.0ft.). Six of the first seven drill holes encountered significant gold values. Drill holes 8 to 14 were drilled beneath the first seven holes to intersect the AHGZ at a depth of 40m (130 ft.). Drill hole 8 targeted the northerly extension of the AHGZ and reconfirmed the northerly termination of the gold zone. Drill holes 9 to 14 were drilled under the 130m. (426 ft.) stripped portion of the AHGZ. Assay values varied from trace to 48 g/t Au (1.40 oz/t Au). Six of the seven drill holes encountered significant gold values and three returned values in excess of one oz/t Au. The zone remains open to depth and to the south for a potential strike length of 2.1 km (6888 ft.) on the property. E. Grayme Anthony, President and C.E.O., commented: "Houston Lake Management is encouraged by the results to date on the Angel Hill Gold Zone. Not only has the tenor of the gold mineralization has improved with depth but 8 of the 12 drill intercepts that tested beneath the stripped area carry gold values that may be economically significant. This frequency of drill success is higher than that expected from surface sampling." The 20 hole 1139m (3736ft.) diamond drilling program has now been completed. Drill Holes 15 to 20 were targeted to intersect the AHGZ at a depth of 10m (32.8ft.). Samples will be shipped as soon as logging and sampling of the core has been completed. Visible gold is reported in Drill hole 16. The Company’s Annual and Special Shareholder’s Meeting was held in Sudbury on February 10, 2004. An amended stock option plan was ratified and a shares for debt proposal for up to $400,000 was approved by disinterested Shareholders. Houston Lake is actively exploring for Gold, Platinum Group Metals and Rare Metals with a strategic focus on NW Ontario. The Company has a total of 16,717,195 common shares issued and outstanding. The common shares of Houston Lake Mining Inc. trade through the facilities of the TSX Venture Exchange under the symbol HLM. For further information, we invite you to visit us at www.houstonlakemining.com. For
more information, please contact:
The TSX Venture Exchange has neither approved nor disapproved of the information contained herein. |
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