Diamond Drill Program Commences on the PAK Rare Metals Project in Ontario
19 February 2014 - 2:59AM
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 commencement of diamond drilling
on the PAK Rare Metals Project, located near Red Lake, Ontario. 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 will focus on the
recommendations from the report with a particular focus on the
higher grade Upper Intermediate Zone (UIZ) of the deposit, 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.
The current drill program will consist of approximately 1,000 m
in six holes targeting the sub-vertical Pakeagama Lake pegmatite.
The objectives of the program are (1) to upgrade a portion of the
resource to an indicated level, specifically some of the 1.17
million tonnes grading 3.44% Li2O in the low-iron,
technical/ceramic grade lithium zone (UIZ) , and (2) to expand the
resource which currently has a 265m strike length with an width
varying from 45 to 125m. The drilling will be completed before the
end of this winter and results will be reported as they are
received and interpreted.
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 belongs to the
LCT (lithium, cesium, tantalum) family of pegmatites. 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 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.
All 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.
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 InformationTrevor R. Walker,
President2736 Belisle DriveVal Caron, ON.P3N 1B3 CANADA
T. +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
705-897-7622F. +001 705-897-7618PresidentorHenry
Kloepper, +001 416-520-0187CEO
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