Hlm Completes 7-Hole, 1,500 Metre Phase II Diamond Drill Program on the Pak Rare Metals Project in Ontario
March 26 2014 - 11:07AM
Business Wire
Houston Lake Mining Inc. (TSX.V: HLM), is a mining
exploration company which is actively exploring for rare metals
lithium, tantalum, rubidium and cesium by currently advancing its
100% owned and optioned PAK Rare Metals Project in northwestern
Ontario, Canada. HLM is pleased to announce the addition of 500
metres to the originally planned 1,000m announced on the February
18, 2014 press release. The phase II diamond drill program is a
follow-up to the Canadian National Instrument (N.I.) 43-101 maiden
mineral resource estimate that was filed by the Company in December
2013, see news release dated December 4th, 2013. The drill program
focused on the recommendations from the report and is designed to
expand and infill the current resource on the project by testing
along strike and to infill on selected sections of the deposit with
a particular focus on the higher grade Upper Intermediate Zone
(UIZ) of the deposit.
The drill program consisted of 1,500m in seven holes targeting
the Pakeagama Lake pegmatite. The objectives of the program are (1)
to upgrade some of the resource to an indicated level, specifically
some of the 1.17 million tonnes grading 3.44% Li2O in the
technical/ceramic grade spodumene lithium zone (UIZ) with low
inherent iron, and (2) to expand the resource which currently has a
265m strike length with an estimated width varying from 45 to 125m
with a sub-vertical orientation. Samples are currently being
processed and will be sent to the laboratory shortly. The assay
results of all drillholes will be released once analyses have been
reviewed and are subject to QA-QC review.
About the PAK Rare Metals ProjectThe PAK Rare Metals
Project lies close to the boundary between two geological
sub-provinces in northwestern Ontario. The deposit is a LCT
(lithium, cesium, tantalum) classified pegmatite. These rare types
of deposits have been the principal source of hard rock lithium,
tantalum, rubidium and cesium ores mined in the world.
HLM is actively developing its 100% owned and optioned project
which contains the Pakeagama Lake pegmatite. The deposit has a
current new NI-43.101 compliant Inferred Resource of 6.89 million
tonnes of 1.86% Li2O Eq. The pegmatite uniquely hosts 1.17 million
tonnes grading 3.44% Li2O in a technical/ceramic grade spodumene
lithium zone (UIZ) with low inherent iron content. The Pakeagama
Lake pegmatite has a 265m strike length with an estimated width
varying from 45 to 125m with a sub-vertical orientation of the
pegmatite. The resource remains open to depth and along strike to
the northwest and southeast.
About Houston Lake Mining Inc.HLM’s goal is to become a
fully integrated lithium and tantalum producer by targeting the
growth as a result of the shift towards electric/hybrid vehicles
and high quality consumer electronics through the development of
the PAK Rare Metals Project in Ontario, Canada. Combined, HLM’s
Board of Directors and Management have over 255 years of
exploration and mining experience in order to facilitate the
Company’s goal of becoming a raw material supplier of the elements
required for the pursuit of sustainable energy, and other
applications in high-tech electronics and metal alloys.
HLM has a total of 80,215,695 common shares issued and
outstanding. For additional information, please visit
www.houstonlakemining.com.
Company Contact Information
Trevor R. Walker,
President Henry Kloepper,
CEO 2736 Belisle Drive
T. +001 416.520.0187 Val
Caron, ON. P3N 1B3 CANADA
T. +001 705.897.7622F. +001 705.897.7618
Forward-looking StatementsNeither 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
http://www.sedar.com
Houston Lake Mining Inc.Trevor R. Walker, +001
705-897-7622PresidentF. +001 705-897-7618orHenry Kloepper,
+001 416.520.0187CEO