Channel Sampling Expands Gold Mineralization at Houston Lake Mining’s West Cedartree Project
Houston Lake Mining Inc. (TSX-V: HLM) (PINKSHEETS: HLKMF), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to provide assay results from a portion of a recently completed stripping, washing and channel sampling program on its Dogpaw Lake property. Dogpaw is one of eight contiguous properties forming the Company’s West Cedartree Gold Project near Kenora.
The surface exploration is part of a systematic program aimed at upgrading the Dogpaw No. 1 Vein historic resource of 53,741 tonnes grading 15.43 g/mt gold (59,239 tons averaging 0.450 oz/st gold) to modern standards. Veins No. 2 and No. 4 have been reinterpreted as the lateral strike extensions of the No. 1 Vein. The No. 1, No. 2 and No. 4 Veins form a gold mineralizing system that has now been traced for over 280 metres (918 feet). A 1997 Drill hole DP-97-22 occurs along this trend and may extend the gold system for an additional 30m (98.4 ft.). DP-97-22 intersected 6.57 g/mt gold over 2.3m (0.192 oz/st gold over 7.54 ft.). Drilling at the Dogpaw No. 1 Vein has extended the gold mineralizing system to a maximum depth tested of 210 metres (688 feet).
Table 1. Fall 2008 Vein No. 4 Channel Sample Results - Main Trend ----------------------------------------------------------------------- Channel Sample Cut, 2 Metre Width in Gold Width in Gold Spacing From NE to SW Metres (g/mt) Feet (oz/st) Line 1 0.60 m. 2.52 1.97 ft. 0.073 Line 2 1.10 m. 3.18 3.61 ft. 0.093 Incl. 0.30 m. 7.51 0.98 ft. 0.219 Line 3 0.70 m. 2.65 2.30 ft. 0.078 Line 4 2.05 m. 3.32 6.72 ft. 0.097 Line 10 3.70 m. 2.55 12.14 ft. 0.075 Incl. 2.00 m. 3.68 6.56 ft. 0.107 Incl. 0.60 m. 9.84 1.97 ft. 0.287 Line 11 2.50 m. 5.35 8.20 ft. 0.156 Incl. 1.60 m. 6.84 5.25 ft. 0.200 Incl. 1.10 m. 7.41 3.61 ft. 0.216 Line 12 2.70 m. 4.77 8.86 ft. 0.139 Incl. 1.10 m. 6.55 3.61 ft. 0.191 Also Incl. 0.50 m. 6.86 1.64 ft. 0.200 Line 13 3.30 m. 2.26 10.82 ft. 0.066 Incl. 2.60 m. 2.70 8.53 ft. 0.079 Incl. 1.80 m. 3.60 5.90 ft. 0.105 Incl. 1.10 m. 5.48 3.61 ft. 0.160 Line 14 1.80 m. 6.59 5.90 ft. 0.192 Incl. 1.40 m. 8.41 4.59 ft. 0.245 Incl. 0.80 m. 11.66 2.62 ft. 0.340 Line 15 2.75 m. 4.71 9.02 ft. 0.137 Incl. 2.05 m. 6.41 6.72 ft. 0.187 Incl. 1.05 m. 8.55 3.44 ft. 0.249 Incl. 0.10 m. 23.85 0.33 ft. 0.696 Also Incl. 0.25 m. 13.48 0.82 ft. 0.393
“We continue to be pleased by the steady progress in expanding the gold system at Dogpaw Lake,” said E. Grayme Anthony, President and Chief Executive Officer. “Now each of our three major targets for gold resource definition has surpassed expectations. With results from 26 drill holes yet to be reported, and further drilling planned, we look forward to a productive and interesting fall exploration season.”
Table 1 illustrates results from the main northeast trend of the Vein No. 4 gold mineralization while Table 2 depicts a secondary east-west trend. Each channel sample line is cut perpendicular to the strike of the gold mineralization and the channel cuts are spaced approximately 2 metres (6.56 feet) apart. The 93 channel samples reported range from trace to 23.85 g/mt gold (0.696 oz/st gold). Results from another 87 channel samples from channel cuts 16 to 30 are pending and will be announced when received.
Table 2. Fall 2008 Vein No. 4 Channel Sample Results - Auxiliary Trend ----------------------------------------------------------------------- Channel Sample Cut, 2 Metre Width in Gold Width in Gold Spacing From E to W Metres (g/mt) Feet (oz/st) Line 5 0.30 m. 1.70 0.98 ft. 0.050 Line 6 0.80 m. 5.73 2.62 ft. 0.167 Also 0.40 m. 8.21 1.31 ft. 0.239 Line 7 1.00 m. 1.43 3.28 ft. 0.042 Line 8 0.30 m. 1.28 0.98 ft. 0.037 Line 9 0.50 m. 0.99 1.64 ft. 0.029
Houston Lake completed a 34 hole, 3,209 metre (10,526 foot) drill program mainly targeting the Dogpaw No. 1 Vein earlier this spring. The first 22 holes of this program have been reported and 18 holes intersected significant gold values of 3 g/mt gold or higher. Results from the remaining 12 drill holes are expected in the next few weeks and will be announced as soon as they are available.
Houston Lake has subsequently completed a 14 hole 2,062m (6,560 ft.) delineation drill program in September. The drill program aims to expand the historic resource to encompass a newly identified western lateral extension, the Dogpaw No. 2 Vein. The No. 2 Vein has now been defined to a depth of over 140m (460 ft.) and for a distance of at least 100m (328 ft.) along strike. Logging and sampling of this new core is now under way.
The Company is also awaiting an NI 43-101 quality resource estimation report on a portion of the Shaft Zone on the neighbouring Dubenski property from consulting geologists Watts Griffis and McOuat. The report is expected to upgrade a portion of the Dubenski Shaft Zone historic resource of 355,286 tonnes grading 6.32 g/mt gold (322,310 tons averaging 0.184 oz/st gold) to modern standards. A 2,000m (6,560 ft.) drill program is planned for this fall to test the down plunge extension of the Shaft Zone.
All samples reported were shipped to TSL Laboratories, an ISO accredited facility, of Saskatoon, Saskatchewan. Samples taken from the core of the mineralized zone were analyzed utilizing a screen metallic assay method. This methodology provides a higher level of assurance by testing a large quantity of sample (1,000g) and by monitoring the size distribution of the gold. Samples taken from the shoulders of the mineralized zone 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. The samples will also be re-checked at a second qualified laboratory in keeping with the Company’s standard due diligence procedures.
The tonnages, grades, assays and other technical data are taken from historical records prior to the implementation of NI 43-101. While the data are believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present.
A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
Dean Cutting, P. Geo., an independent consulting geologist, 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 31,148,881 common shares issued and outstanding. For additional information, please visit us at 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 E. Grayme Anthony P.Geo., MBA President and CEO Tel: 705-897-7622 Fax: 705-897-7618 Email Contact Linx Partners Ltd. Wanda Cutler Tel: 416-303-6460
SOURCE: Houston Lake Mining Inc.