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HOUSTON LAKE MINING INC. (HLM-CDNX)
PRESS RELEASE
Target Expands on the Pakeagama Lake Tantalum Pegmatite, Channel Sample Results Pending
July 25, 2001: Sudbury, Ontario - Houston Lake Mining Inc. (CDNX:HLM, "Houston Lake") is pleased to announce that initial exploration programs have been completed over the Company’s 100 percent owned, 512 hectare (1267 acre) Pakeagama Lake rare metals property. Houston Lake’s ownership interest is subject to a 2.5 percent NSR. Exploration programs involving line-cutting, geophysical (magnetics and VLF-EM) surveys, property-scale geological mapping, stripping and detailed channel sampling have just been completed. The known dimensions of the Pakeagama Lake pegmatite continue to be expanded in size with further work and the pegmatite remains open along strike. Assay results are expected by late August. The Pakeagama Lake pegmatite was the recent subject of a two year collaboration between Dr. Fred Breaks of The Ontario Geological Survey and Dr. Andy Tindle and Ph.D. candidate Steve Smith of The Open University in the United Kingdom. Their extensive documentation of the pegmatite has depicted the second largest, complex-type, petalite subtype pegmatite in Ontario with highly anomalous to economically significant values of tantalum, cesium, rubidium, lithium, beryllium, niobium, tin, gallium, germanium and thallium. Four generations of tantalum mineralization in seven tantalum minerals have thus far been identified in the combined study. Thus, the Pakeagama Lake pegmatite shares two important characteristics with that of world-class tantalum-bearing pegmatite deposits: high concentrations of rare metals and large pegmatite size. Houston Lake has completed the total required payments of $150,000, issued 200,000 common shares, and expended in excess of the $63,000 of exploration expenditures required under the Pakeagama Lake Property Option Agreement to earn its 100 percent interest by the end of June, 2001. The Pakeagama Lake Property is located approximately 170 km. north of Red Lake, Ontario and is accessible by float plane and a winter road which passes within 2 km. of the property. The property covers all known surface exposures of the Pakeagama Lake rare metals pegmatite. Previous work included detailed mapping and channel sampling. Channel sampling of the 13 metre (42 foot) wide Northern Wall Zone of the Pakeagama Lake pegmatite has been previously reported and returned 344 g/t tantalum oxide, 0.90 percent rubidium oxide, 1776 g/t cesium oxide, 68.9 g/t tin, 131.9 g/t niobium oxide, 1.34 percent lithium oxide, 25.9 g/t thallium, and 42.2 g/t gallium over a true width of 11 metres (36 feet). Houston Lake has completed 25.4 km. (15.2 miles) of line-cutting and geophysical (magnetic and VLF-EM) surveys in June of this year. Geological mapping, stripping and channel sampling programs have just been concluded. The known dimensions of the pegmatite has been increased in size to over 280 metres (918 feet) in strike length and is open in both directions with no indications of termination. The previously reported 700 g/t tantalum oxide-bearing aplite occurrence on the shore of Pakeagama Lake lies directly along strike of the pegmatite to the southeast and extends the tantalum mineralizing system to over 610 metres (2,000 feet) in total strike length. Pegmatite dykes occur along strike for a distance of up to 1.4 km (4590 feet) to the northwest of the known limits of the pegmatite on the property. The pegmatite is over 35 metres (115 feet) wide at its southeastern-most exposure and is at least 25 metres (82 feet) wide at its northwestern-most exposure. Additional stripping over an extensive area of roof pendants/inclusions in the central portions of the pegmatite has exposed a maximum width of approximately 125 metres. Since the rare metals mineralization at Pakeagama Lake is extensively exposed at surface, channel sampling is an effective method of evaluation of the mineralization. Channel sampling involves taking a consistent cut across the rock exposure without favour to advantageous-looking rock. In this way channel sampling yields an unbiased quality of evaluation approaching that of drilling. All channel samples were taken with a 4 cm. wide cut and a sample interval of 1 metre. The channels are perpendicular to the strike of the zones being assessed and thus all sample intervals will be reported in true widths. The channel sampling program covered a total of over 90 metres in width of the Northern and Southern Wall Zones, the Core Zone, and Stacked Aplite Zones. Nineteen systematic lithogeochemical samples were also taken over the 100 metre wide holmquistite granite (lithium-cesium) anomaly flanking the pegmatite. Samples have been shipped to ActaLabs of Toronto for neutron activation analysis. Results expected by late August. Houston Lake is actively exploring for rare metals, platinum group metals and gold in northwestern Ontario. The common shares of Houston Lake Mining Inc. trade through the facilities of the Canadian Venture Exchange under the symbol HLM. Houston Lake Mining Inc. has a total of 14,753,695 common shares issued and outstanding. For further information on all of the Company's projects, we invite you to visit us at www.houstonlakemining.com. For more information, please contact: E.
Grayme Anthony B.Sc., P. Geo., F.G.A.C., M. B.
A. The Canadian Venture Exchange has neither approved nor disapproved of the information contained herein. |