Houston Lake Mining Extends Gold Mineralization To Depth At The Dogpaw No. 2 Vein
Deepest Hole Intersects Highest Grade of 11.05 g/mt Gold
SUDBURY, Ontario, Mar 18, 2009 (BUSINESS WIRE) -- --Dogpaw Lake Drill Hole 97 Hits 2.25 Metres Grading 9.11 g/mt Gold Houston Lake Mining Inc. (TSX.V: HLM), an advanced exploration company seeking gold, platinum group and rare metal deposits in Ontario, is pleased to provide assay results from a recently completed 14 hole, 2,062 metre (6,763 foot) drill program on the 100 percent owned Dogpaw Lake property. Dogpaw is one of eight contiguous properties forming the Company's West Cedartree Gold Project near Kenora. Table 1. Highlights of Phase II
2008 Drill Program, Vicinity of Dogpaw Vein No.2
Drill Hole From To Intercept Gold Intercept Gold
Number (m) (m) (m) (g/mt) (ft) (oz/st)
DP-08-91 86.30 89.45 3.15 1.80 10.33 0.052
Incl. 87.35 87.75 0.40 5.14 1.31 0.150
DP-08-96 143.00 144.00 1.00 1.11 3.28 0.032
DP-08-97 119.75 124.00 4.25 5.86 13.94 0.171
Incl. 119.75 122.00 2.25 9.11 7.38 0.266
DP-08-98 145.54 147.60 2.06 5.29 6.76 0.154
Incl. 145.54 147.18 1.64 6.41 5.38 0.187
Incl. 146.40 147.18 0.78 9.09 2.56 0.265
DP-08-100 6.15 7.50 1.35 2.36 4.43 0.069
Also 19.50 21.15 1.65 1.13 5.41 0.033
Also 62.70 63.40 0.70 1.19 2.30 0.035
DP-08-101 155.90 166.00 11.00 2.34 36.08 0.068
Incl. 156.00 160.90 4.90 3.60 16.07 0.105
Incl. 160.00 160.90 0.90 11.05 2.95 0.322
DP-08-102 108.80 111.70 2.90 1.84 9.51 0.054
Incl. 108.80 109.30 0.50 3.28 1.64 0.096
Also 110.60 111.70 1.10 2.11 3.61 0.062 "Our deeper drill holes targeting the Dogpaw No. 2 Vein intersected some excellent high grade results," said E. Grayme Anthony, President and Chief Executive Officer. "The gold mineralizing system has now been proven to a depth of 140 metres and for 100 metres along strike. We are currently conducting downhole IP surveys to further increase our understanding of the gold mineralization at Dogpaw. We would like to include delineation drilling of the No. 4 Vein before commencing with a NI 43-101 calculation of the No. 1 Vein gold system planned for later this year." The drill program seeks to test the Dogpaw No. 2 Vein to depth. The Dogpaw No. 2 Vein is interpreted to be the south-western extension of 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). The Company is seeking to upgrade the Dogpaw No. 1 Vein historic resource to modern standards as part of its goal of justifying an on site mill at West Cedartree. Drill holes DP-08-89 to DP-08-102 form part of the systematic testing of the vicinity of the Dogpaw No. 1 Vein historic resource. The reported drilling tests the No. 2 Vein from to a maximum depth of about 144.48 metres (474.89 feet) in DP-08-101 (Tables 1 and 2). All of the fourteen drill holes intersected the strongly altered and silicified meta-gabbroic rocks that are associated with Dogpaw Vein No. 2. Assay results that varied from trace to 11.05 g/mt gold (0.322 oz/st gold). DP-08-101 was the deepest drill hole and intersected 2.34 g/mt gold over a core length of 11.0 metres (0.068 oz/st gold over 36.08 feet), including 11.05 g/mt gold over 0.90 metres (0.322 oz/st gold over 2.95 feet). Table 2. Collar Locations for 2008 Drill Holes, Vicinity of Dogpaw No. 2 Vein. Drill Hole Number Northing Easting Collar Dip Collar Azimuth Drill Hole Length
DP-08-89 5464821.75 436340.09 56.7 152.0 116 m 380.57 ft
DP-08-90 5464822.04 436339.95 66.4 151.1 131 m 429.78 ft
DP-08-91 5464831.78 436361.85 70.5 154.3 125 m 410.10 ft
DP-08-92 5464756.62 436346.05 71.4 149.6 65 m 213.25 ft
DP-08-93 5464787.26 436331.42 54.2 152.1 98 m 321.52 ft
DP-08-94 5464818.68 436314.94 49.6 154.9 131 m 429.78 ft
DP-08-95 5464856.04 436323.11 54.9 155.0 170 m 557.74 ft
DP-08-96 5464856.19 436323.05 61.7 154.5 164 m 538.05 ft
DP-08-97 5464861.60 436347.65 63.9 160.8 140 m 459.31 ft
DP-08-98 5464861.78 436347.58 69.6 163.4 179 m 587.26 ft
DP-08-99 5464819.15 436314.69 64.9 155.4 161 m 528.21 ft
DP-08-100 5464880.59 436311.06 58.9 155.1 224 m 734.90 ft
DP-08-101 5464898.46 436328.10 60.5 152.9 200 m 656.16 ft
DP-08-102 5464889.25 436360.50 48.6 154.4 158 m 518.37 ft The fourteen drill holes were drilled at 48.6 to 71.4 degrees to intercept the 75 degree dipping Dogpaw No. 2 Vein. True widths are estimated to be 81.9 percent of the 50 degree, 76.6 percent of 55 degree, 70.7 percent of 60 degree, 64.2 percent of 65 degree and 57.3 percent of 70 degree collar dips. Drill holes DP-08-89, 90, 92, 93, 94, 95 and 99 intersected nominal gold values and are not tabled. Houston Lake has completed further mechanized trenching and stripping over the Dogpaw No. 4 Vein. The Dogpaw No. 4 Vein forms the interpreted northeastern extension of the Dogpaw No. 1 Vein mineralizing system. Results from the evaluation of the No. 4 Vein are pending. Down hole geophysical (IP) testing is currently being conducted by JVX Limited of Richmond Hill, Ontario to further add to the understanding of the Dogpaw mineralizing system. Phase III drilling is well under way at the neighbouring Dubenski property and seeks to expand upon the Shaft Zone gold resource. Due Diligence 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, and E. Grayme Anthony, P. Geo., President of the Company, are the Qualified Persons 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 33,716,213 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com. Forward-looking Statements Neither 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. www.houstonlakemining.com SOURCE: Houston Lake Mining Inc. Houston Lake Mining Company Contacts E. Grayme Anthony P.Geo., MBA, President and CEO Fax: 705-897-7618 ganthony@vianet.on.ca or In Canada: Linx Partners Ltd. Wanda Cutler Tel: 416-303-6460 or In United States: ICS George Duggan Tel: 818-542-6880 Copyright Business Wire 2009 |