Houston Lake Mining Inc. (TSX.V:HLM)
Highlights:
- Diamond Drill Hole (DDH) PL-011-14
intersected 1.68% Li2O over 104 metre (m) from 9.1m
to 104.75 m;
- DDH PL-011-14 includes a 12.8 m wide
high-grade lithium zone (Upper Intermediate [UIZ]) averaging 4.01%
Li2O from 35 to 47.8 m;
- DDH PL-012-14 confirms the
high-grade UIZ 25 m to the northwest;
- Resource remains open to depth and
along strike to the northwest and southeast; and
- Assay results pending from 7
remaining drill holes from the Phase II Diamond Drill
Program.
Houston Lake Mining Inc. (TSX.V: HLM), is a mining
exploration company that is specialized in rare-metals and is
actively exploring for lithium (Li), tantalum (Ta), rubidium (Rb)
and cesium (Cs) by focusing on its high-grade, 100% owned and
optioned 4,032 hectare (9,963 acre) PAK Rare Metals Project in
northwestern Ontario, Canada. HLM is pleased to announce the
results of two (2) infill drill holes from the 2014 Phase II,
nine-hole diamond drill program on the Pakeagama Lake pegmatite.
The assay and collar data for the 2 holes being reported are
presented in Tables I and II.
The primary objective of these two holes is to increase the level
of confidence in a portion of the inferred resource (see December
4, 2013 press release) with particular focus on the 1.17 million
tonnes grading 3.44% Li2O. The intersection summaries for the two
drill holes outlined in Table I below have confirmed continuity of
the zones along strike of the intersection in DDH-13-003 and
beneath the surface outcrop, and also defined bounding contacts
with host rock(s). Table I also summarizes the lithium, cesium,
tantalum and rubidium grades for the two drill holes by
mineralogical zones for the pegmatite intersections. The hole
PL-012-14 intersection confirms and extends the strike length of
the lithium and tantalum zones of the Pakeagama Lake pegmatite to
the northwest.
Table I – Core Length Intercepts
(Pakeagama Lake pegmatite)
DDH PL-011-14 Designed to test continuity of
pegmatite zonation beneath the enriched UIZ/CIZ surface zones near
(approx. 25m ESE) DDH PL-003-13
Zone Width (m)
Li2O (%) Cs2O (%)
Ta2O5 (ppm)
Nb2O5 (ppm)
SnO2 (ppm) Rb2O
(%) Geology Total Pegmatite
9.10 - 104.75 m 95.65 1.68 0.024 85 59 162 0.24
WZ/CIZ/UIZ/LIZ
Tantalum, Rubidium and Cesium enriched
zones including 9.10 - 20.70 m 11.60 n/a 0.068 132 69 83
0.37 WZ/CIZ including 9.85 - 14.00 m 4.15 n/a 0.077 188 123 113
0.38 WZ/CIZ
Lithium enriched zones: including
13.00 - 104.75 m 91.75 1.69 0.021 80 53 156 0.22 LIZ+UIZ including
35.00 - 47.80 m 12.80 4.01 0.031 48 33 40 0.10 UIZ including 54.00
- 104.75 m 50.75 1.73 0.023 114 84 274 0.33 LIZ
DDH PL-012-14 Designed to test continuity of pegmatite
zonation beneath the enriched UIZ/CIZ surface zones near (approx.
25m WNW) DDH PL-003-13
Zone Width (m)
Li2O (%) Cs2O (%)
Ta2O5 (ppm)
Nb2O5 (ppm) SnO2
(ppm) Rb2O (%) Geology
Total Pegmatite 19.50 - 74.40 m 54.90
1.42 0.030 96 76 87 0.24 Aplite/WZ/ LIZ/UIZ
Tantalum,
Rubidium and Cesium enriched zones including 19.50 -
36.45 m 16.95 1.31 0.036 130 78 146 0.23 WZ/LIZ
Lithium
enriched zones including 35.50 - 44.00 m 8.50 3.69 0.039
90 54 44 0.24 UIZ/Aplite Also 102.00-107.20 m 5.20 2.16 0.012 107
80 50 0.27 Aplite/LIZ (1) The intervals
in Table II are drill intersection widths. There is currently
insufficient data to determine the true thickness of the pegmatite.
n/a = Not applicable
The Upper Intermediate (UIZ), Central Intermediate (CIZ) and
Lower Intermediate Zones (LIZ) were previously described in the
July 2, 2013 Press Release. Zones of sodic aplite are present in
all holes and vary in width from tens of centimetres to several
metres, and contain significant concentrations of Ta, Rb and
Cs.
Noteworthy observations are that the NNE (footwall) boundary
with the metasediments is consistent and predictable while the SSW
(hanging wall) contact with the granite is somewhat erratic and
complicated by granitic blocks and rafts and appears to have been
variably affected (metasomatized) by the pegmatite intrusion
events. The mineralized pegmatite remains open along strike to the
WNW and ESE, and at depth. Granitic blocks/rafts mapped on surface
appear to diminish with depth and along strike in both
directions.
The current strike length of the pegmatite as defined by surface
mapping and drilling remains at 290 m with an estimated width
varying from 45 to 125m assuming sub-vertical orientation of the
pegmatite body.
“These results with particular focus on the UIZ intercepts not
only confirm grade from our maiden resource calculation but should
increase the zone’s tonnage. These features of size and grade,
combined with the pegmatite’s low inherent iron (<.1% Fe2O3 {see
June 11, 2014 press release}) give HLM the confidence in its
potential ability to economically produce a technical grade quality
spodumene product and/or concentrate that could appeal firstly to
the established specialty glass and ceramics segment of the lithium
market,” commented Trevor R. Walker, President of HLM. “This could
be possible in contrast to many others, who would require a sizable
capital investment in order to remove and produce a low iron (Fe)
product. We are pleased with these results and look forward to
releasing pending assay results in the near future from the
remaining drill holes on our Phase II Diamond Drill program.”
Table II– Collar Locations for Diamond Drill Hole
(DDH)
DDHNo NAD83 (Zone 15N)
Elevation (mASL)
Azimuth Inclination Total
Depth (m) Easting Northing PL-011-14
474403 5827979 327 -45 30 128 PL-012-14 474571 5827851 317 -60 20
233
Due DiligenceAll scientific and technical information in
this release has been reviewed and approved by Peter J. Vanstone,
P.Geo., the qualified person (QP) under the definitions established
by National Instrument 43-101. Under HLM’s QA/QC procedures, the
diamond drill contract specified NQ-sized drill core providing a
47.6 mm diameter sample. The drill holes were oriented
perpendicular to the strike of the pegmatite and drilled
continuously across it. Sample security and chain of custody
started with the removal of core from the core tube and boxing of
drill core at the drill site. The boxed core remained under the
custody of the drill contractor until it was transported from the
drill to the secure on-site Core Shack facility by either the drill
contractor or one of the Company’s designated personnel. At the
on-site Core Shack, core boxes were opened and inspected to ensure
correct boxing and labelling of the core by the drill contractor,
photographed and then re-closed. The core was stored securely until
moved into the Core Shack for processing. The company geologists
logged the core, and then marked and tagged it for sampling and
splitting. Each core sample was assigned a tag with a unique
identifying number. Sample lengths are typically one meter, but can
be less depending on zone mineralogy and boundaries. The Core was
then re-closed and shipped to the company’s off-site core splitting
facility in Sudbury, Ontario. Core marked for splitting was cut
using a diamond core saw with a mounted jig to assure the core was
cut lengthwise into equal halves. Half of the core was sent to an
analytical laboratory for quantitative analysis of select elements.
The remaining half of the core is retained and incorporated into
HLM’s secure, off-site core library.
All samples were assayed by an ISO accredited laboratory. Sample
blanks along with tantalum, lithium, rubidium and cesium certified
reference material was routinely inserted into the sample stream in
accordance with industry recommended practices. Field duplicate
samples were also taken in accordance with industry recommended
practices.
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 exploring 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. A 9-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 low-Fe ceramics/glass
market as well as 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 ceramics/glass, 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 CANADA
T. +001 705.897.7622F. +001 705.897.7618
Henry J. 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
www.sedar.com.
Houston Lake Mining Inc.Trevor R. Walker, +001
705-897-7622PresidentF. +001 705-897-7618orHenry J. Kloepper, +001
416-520-0187CEO
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