Houston Lake Mining Intersects More High Grade Gold at West Cedartree
Houston Lake Mining Inc. (TSX-V: HLM), an advanced exploration company actively seeking gold, platinum group metals and rare metals in northwestern Ontario, is pleased to report that high grade gold mineralization has been intercepted in systematic channel sampling carried out on the McLennan Gold Zone (MGZ).
The MGZ is one of the four or more gold systems that occur on the Company’s 100% owned and optioned 1,673.6 hectare (4,134.5 acre) West Cedartree Gold Project located near Kenora, Ontario.
“These significant assays mark a positive start to the series of results expected from our fall 2007 exploration program,” commented E. Grayme Anthony, President and CEO. “In all, there are assays pending from 235 audit samples of previous drilling programs and from 245 channel samples of newly exposed vein systems on the Dogpaw Lake property. These results should be forthcoming over the next few weeks.”
-***- Table 1. Fall 2007 Channel Sample Results from the McLennan Gold Zone ——————————————————————— Channel Sample Medium Width in Gold Width in Gold Metres (g/mt) Feet (oz/st) ——————————————————————— Stripped Outcrop 9.10 m. 2.40 29.85 ft. 0.070 ——————————————————————— Incl. 4.95 m. 3.44 16.24 ft. 0.100 ——————————————————————— Incl. 3.65 m. 4.19 11.97 ft. 0.122 ——————————————————————— Boulders adjacent to Stripping 2.90 m. 0.24 9.51 ft. 0.007 ——————————————————————— Boulders adjacent to Stripping 1.95 m. 5.22 6.40 ft. 0.152 ——————————————————————— Incl. 1.00 m. 9.66 3.28 ft. 0.282 ——————————————————————— -****-
Mechanized stripping was carried out between Trenches 2 and 3 of the MGZ. Channel sample results have now extended the McLennan gold mineralization from previous drilling at depth to surface (See Tables 1 and 2). This systematic work forms the first building block in the process of defining a potential resource in the MGZ. The 27 channel samples returned assay values from trace to 11.66 g/mt Au (0.340 oz/st) and included the best channel sample interval of 3.65m grading 4.19 g/mt Au (11.97ft. grading 0.122 oz/st). The main channel cut is oriented perpendicular to the trend of the gold zone. Several very large boulders lying adjacent to the stripped area were also channel sampled. The boulders are not in situ but appear to be from the zone.
A detailed 1:10,000 scale aerial survey of all eight properties comprising the West Cedartree Gold Project was completed by Eagle Mapping Ltd. last week. The survey provides high-resolution colour aerial photography, an orthophoto base map and a detailed 1:1,000 scale digital elevation map with one-metre contours. This survey provides greater accuracy and control for exploration programs. The survey’s high level of detail was chosen so as to encompass all future requirements, should the project continue to advance toward mining production.
An exploration program involving mechanized stripping, washing, detailed mapping and channel sampling was completed last week on the Dogpaw Lake property. The program targeted several vein systems in the vicinity of the Dogpaw Lake No. 1 Vein. A total of 207 channel samples from Dogpaw Lake No. 2 Vein and 38 channel samples from Dogpaw Lake No. 4 Vein have just been shipped for gold assay. A total of 171 drill core samples from the 1997 drill program have been shipped thus far for gold analysis.
The Company is awaiting a report on the Dubenski Option from consulting geologists Watts Griffis and McOuat. This report will provide the basis for an upcoming drill program targeting the Shaft Zone. Houston Lake has re-established the access road and refurbished the 1997 grid system in preparation for upcoming exploration on the Dubenski property. Drilling is also planned this winter for the Dogpaw Lake Vein No. 1. Houston Lake has raised in excess of $1 million to further advance exploration of the West Cedartree Gold Project.
McLennan Gold Zone (MGZ)
The MGZ is located several hundred metres west of and is oriented subparallel to the Angel Hill Gold Zone. The MGZ is marked by a series of overgrown pits, trenches and drill collars which were completed in the 1940′s. “Drilling carried out by Noranda Mines in 1944-45 encountered significant gold-bearing intersections over a strike length of 280m. (918 ft.). Typical intersections along the shear zone and offshoot shears are: 0.20 oz/t Au over 1.2 ft., 0.53 oz/t Au over 18.0 ft., 0.25 oz/t Au over 3.0 ft., 0.55 oz/t Au over 1.5 ft., 1.35 oz/t Au over 3.5 ft.” (Dr. K. Germundsen, P. Geo., Internal Company Report, 2002).
Subsequent work by Houston Lake has established the gold zone occurs near the northerly striking contact of mafic volcanics with a large gabbro sill. The zone appears to be 3.0 to 4.5m (9.8 to 14.8 ft.) wide, is highly silicified and carbonatized, and carries 5-10% disseminated sulphides. Significant gold values have been encountered in each of the four drill holes at the MGZ (see Table 2). The MGZ is traced by IP geophysics for a distance of at least 1,200m (3936 ft.) on the property.
Table 2. Results for All Boreholes Drilled by Houston Lake on MGZ ————————————————————————— -***- Hole Drill Hole Intercept Gold Intercept Gold No. Location From To (m.) (g/mt) (ft.) (oz/st) ————————————————————————— 27(-45degrees) 2460mN 23.95m 29.00m 5.05m 5.736 16.56ft. 0.167 ————————————————————————— Incl. 24.45m 26.82m 2.37m 10.433 7.77ft. 0.304 ————————————————————————— Incl. 26.00m 26.50m 0.50m 31.500 1.64ft. 0.919 ————————————————————————— 35(-60degrees) 2460mN 26.00m 35.00m 9.00m 4.04 29.52ft. 0.118 ————————————————————————— Incl. 28.95m 33.20m 4.25m 6.69 13.94ft. 0.195 ————————————————————————— Incl. 29.95m 30.95m 1.00m 15.86 3.28ft. 0.463 ————————————————————————— 36(-45degrees) 2440mN 44.25m 60.70m 16.45m 1.67 53.96ft. 0.049 ————————————————————————— Incl. 46.25m 47.25m 1.00m 7.24 3.28ft. 0.211 ————————————————————————— Also Incl. 58.05m 60.70m 2.65m 3.98 8.69ft. 0.116 ————————————————————————— Incl. 59.00m 60.00m 1.00m 7.61 3.28ft. 0.222 ————————————————————————— 40(-60degrees) 2440mN 66.85m 69.00m 2.15m 5.25 7.05ft. 0.153 ————————————————————————— Incl. 66.85m 68.00m 1.15m 9.35 3.77ft. 0.273 ————————————————————————— Incl. 66.85m 67.35m 0.50m 17.85 1.64ft. 0.521 ————————————————————————— -****-
Due Diligence
All 27 channel samples were shipped by bonded courier to ISO accredited TSL Laboratories of Saskatoon, Saskatchewan and were analyzed by fire assay utilizing a 50 gram charge. Samples were assayed with an AA finish and those samples assaying above 3.0 g/mt Au were retested utilizing a gravimetric finish. Thirteen analyses were conducted utilizing a screen metallic assay method to increase sample precision for the reported outcrop channel sample intersection. This methodology provides a higher level of assurance by testing a large quantity of sample (up to 1,000g where available) and by monitoring the size distribution of the gold. A nugget effect was detected in some of the 13 samples and monitored by the metallic screen assay method. The samples will also be re-checked at a second qualified laboratory in keeping with the Company’s standard due diligence procedures.
Independent Consultant Dean R. Cutting, P. Geo., is the Qualified Person for the project under the guidelines of NI 43-101 and has reviewed this press release in its entirety.
About Houston Lake Mining Inc.
Houston Lake is an advanced exploration, vertically integrated resource company. The Company is actively exploring for gold, platinum group metals and rare metals in northwestern Ontario with a strategic focus on the West Cedartree gold project. Houston Lake’s objective in the short term 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 26,466,559 common shares issued and outstanding. For additional information on Houston Lake, visit www.houstonlakemining.com.
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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Company Contacts Houston Lake Mining Inc. E. Grayme Anthony P. Geo., MBA President and CEO Tel: 705-897-7622 Fax: 705-897-7618 Email Contact Barnes McInerney Colin Languedoc Senior Account Executive Tel: 416-367-5000 ext. 225 Fax: 416-367-5390 Email Contact
SOURCE: Houston Lake Mining Inc.