HLM Increases Land Position by 43% to 4,032 Hectares Through Staking on the PAK Rare Metals Project in Northwestern Ontario
24 July 2014 - 11:24PM
Business Wire
Houston Lake Mining Inc. (TSX.V: HLM), is a mining
exploration company that is actively exploring for the rare metals
lithium, rubidium, cesium and tantalum by currently advancing its
100% owned and optioned PAK Rare Metals Project in northwestern
Ontario, Canada. HLM is pleased to announce the recent staking of
prospective and adjacent grounds which substantially increases the
Company’s controlled land position and size of the PAK Rare Metals
Project to 4,032 hectares (9,963 acres).
“The recently completed maiden resource calculation and Phase II
diamond drill program (results pending and expected in the near
future), coupled with the increased property size confirms HLM’s
commitment to the strong market interest in lithium and other
strategic metals”, said Trevor R. Walker, President of HLM. “HLM
remains focused on our investments in a leading exploration target
with the unique high-grade, multi-element Pakeagama Lake pegmatite
on the PAK Rare Metals Project.”
About the PAK Rare Metals ProjectThe PAK Rare Metals
Project lies close to the boundary between two geological
sub-provinces of the western Superior geologic province in
northwestern Ontario and hosts a rare metals pegmatite deposit. The
deposit is an 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 is one of
the highest grade deposits in North America which has a current
Inferred Resource of 6.89 million tonnes of 1.86% Li2O Eq. which
has a technical/ceramic grade spodumene with low inherent iron
(below 0.1% Fe2O3). Within the deposit, the pegmatite uniquely
hosts an Upper Intermediate Zone of 1.17million tonnes grading
3.44% Li2O. The pegmatite has a 265m strike length with an
estimated width varying from 45 to 125m with a sub-vertical
orientation. The resource remains open to depth and along strike to
the northwest and southeast. An 8-hole, 1,500m Phase II diamond
drill program was completed in late March 2014; assay results for
this program are pending and expected in the near future.
About Houston Lake Mining Inc.HLM’s goal is to become a
fully integrated lithium and tantalum producer through the
development of the PAK Rare Metals Project in Ontario, Canada . The
Company's strategy is to take advantage of the global shift towards
electric/hybrid vehicles and high quality consumer electronics by
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. Combined, HLM’s Board of Directors
and Management have over 300 years of finance, exploration and
mining experience to help to facilitate the Company’s goal
HLM has a total of 90,807,595 common shares issued and
outstanding. For additional information on HLM, please visit
www.houstonlakemining.com
Company Contact InformationTrevor R. Walker,
President2736 Belisle DriveVal Caron, ON.P3N 1B3
CANADAT. +001 705.897.7622F. +001 705.897.7618
Henry Kloepper, CEOT. +001 416.520.0187
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
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