Houston Lake Mining Announces Potential New Gold Zone is Confirmed by Channel Samples on Robertson Prospect at its West Cedartree Project
SUDBURY, Ontario, Aug 23, 2010 (BUSINESS WIRE) --
Houston Lake Mining Inc. (TSX.V: HLM), is an advanced exploration company which has prospected and strategically acquired contiguous gold properties in Northwestern Ontario with the objective of transitioning into production. HLM also seeks platinum group and rare metal deposits in Northwestern Ontario. HLM is pleased to report the results of the 100 channel samples taken from 22 lines of surface exploration work which has identified a potential new gold mineralized zone. This potential zone is close in proximity to one of the historical Robertson Prospects, located on the 100% HLM owned West Cedartree Property. A chargeability compilation map that combines results from IP surveys and the area of the new potential gold zone is available at https://www.houstonlakemining.com/images/IPchargability_WCP.jpg.
"This identification is in proximity to the largest chargeability anomaly at the southern limit of HLM's IP coverage, no drilling has ever been done in this area. Past experience from drilling on the West Cedartree Project tells us that the gold mineralization appears to be closely associated with IP chargeability highs", said Trevor R. Walker, President. "These results confirm our suspicion and warrant further exploration with diamond drilling. Gold mineralization to the north of this discovery in the Angel Hill Gold Zone has encountered up to 1.22 metres grading 479 g/t gold. We believe that we may have discovered another area which creates solid exploration upside and resource potential for the West Cedartree Project."
Channel Sample Line / Orientation Length (m.) Gold Length (ft.) Gold
(g/mt.) (oz./st.)
------- ---------
1 - East-West (EW) 2.70 0.84 8.86 0.025
--------------------------------- ----------- ------- ------------ ---------
Including 0.97 1.00 3.18 0.029
--------------------------------- ----------- ------- ------------ ---------
And 1.91 0.51 6.27 0.015
--------------------------------- ----------- ------- ------------ ---------
2 - EW 0.61 0.61 2.00 0.018
--------------------------------- ----------- ------- ------------ ---------
3 - EW 0.43 1.38 1.41 0.040
--------------------------------- ----------- ------- ------------ ---------
4 - EW 2.24 1.25 7.35 0.036
--------------------------------- ----------- ------- ------------ ---------
Including 0.90 1.63 2.95 0.048
--------------------------------- ----------- ------- ------------ ---------
And 1.02 0.54 3.35 0.016
--------------------------------- ----------- ------- ------------ ---------
5 - EW 2.41 1.34 7.91 0.039
--------------------------------- ----------- ------- ------------ ---------
Including 0.91 1.63 2.99 0.048
--------------------------------- ----------- ------- ------------ ---------
6 - North-South (NS) 5.82 1.37 19.10 0.040
--------------------------------- ----------- ------- ------------ ---------
Including 2.03 1.74 6.66 0.051
--------------------------------- ----------- ------- ------------ ---------
7 - EW 0.79 0.82 2.59 0.024
--------------------------------- ----------- ------- ------------ ---------
8 - EW 2.82 1.30 9.25 0.038
--------------------------------- ----------- ------- ------------ ---------
Including 0.91 1.71 2.99 0.050
--------------------------------- ----------- ------- ------------ ---------
9 - NS 1.02 0.68 3.35 0.020
--------------------------------- ----------- ------- ------------ ---------
Including 0.61 0.50 2.00 0.015
--------------------------------- ----------- ------- ------------ ---------
10 - NS 4.37 0.95 14.34 0.028
--------------------------------- ----------- ------- ------------ ---------
Including 0.94 1.66 3.08 0.048
--------------------------------- ----------- ------- ------------ ---------
11 - NS 1.57 1.08 5.15 0.032
--------------------------------- ----------- ------- ------------ ---------
12 - NS 1.63 1.47 5.35 0.043
--------------------------------- ----------- ------- ------------ ---------
Including 0.79 1.65 2.59 0.048
--------------------------------- ----------- ------- ------------ ---------
13 - NS 3.28 1.16 10.76 0.034
--------------------------------- ----------- ------- ------------ ---------
Including 1.02 1.63 3.35 0.048
--------------------------------- ----------- ------- ------------ ---------
14 - NS 1.22 2.13 4.00 0.062
--------------------------------- ----------- ------- ------------ ---------
Including 0.43 2.97 1.41 0.087
--------------------------------- ----------- ------- ------------ ---------
15 - EW 2.74 1.20 8.99 0.035
--------------------------------- ----------- ------- ------------ ---------
Including 0.48 2.46 1.57 0.072
--------------------------------- ----------- ------- ------------ ---------
16 - NS 3.51 0.98 11.52 0.029
--------------------------------- ----------- ------- ------------ ---------
And 0.94 0.53 3.08 0.015
--------------------------------- ----------- ------- ------------ ---------
18 - EW 1.02 0.70 3.35 0.020
--------------------------------- ----------- ------- ------------ ---------
19 - NS 1.02 0.49 3.35 0.014
--------------------------------- ----------- ------- ------------ ---------
20 - NS 2.01 0.81 6.59 0.024
--------------------------------- ----------- ------- ------------ ---------
21 - NS 0.91 1.43 2.99 0.042
--------------------------------- ----------- ------- ------------ ---------
22 - NS 1.14 0.93 3.74 0.027
--------------------------------- ----------- ------- ------------ ---------
The Robertson Zone is now a 60m long by 20m wide stripped and washed area of gabbroic rock which at surface has three converging shear zones of silicification and variable amounts of finely disseminated pyrite up to 1-2%. These converging zones trend NNE, NNW and EW and vary in width from 3 meters to 20 meters. Channel samples were cut approximately perpendicular to the strike of each shear zone. A total of 100 samples from 22 lines on the Robertson Prospect were analyzed by fire assay. The best sample result to date is 2.97 g/t Au over a length of 0.43 meters from Line 14. This interval is from a longer sample of 1.22 meters averaging 2.13 grams per tonne. Note that all NS oriented lines are from the EW shear zone and it's northern alteration halo.
With a diamond drill program currently underway on the Dubenski Property, HLM is planning 400-600m of exploration at this newly discovered zone. The goal of the current exploration program on the Robertson Prospect is to delineate additional economic resources on the West Cedartree Project. The Robertson Prospects have an insignificant exploration history dating back to the 1940's. Three showings were known to have been documented on the West Cedartree Property with minor indications of gold mineralization.
Due Diligence
All samples reported were shipped to Accurassay Laboratories, an ISO accredited facility, of Thunder Bay, Ontario. Samples were analyzed by fire assay utilizing a 30 gram charge. All samples were assayed with an AA finish and those samples assaying above 3 g/mt gold are retested utilizing a gravimetric finish.
This news release was reviewed by Bryan McKay, P. Geo., who is a Qualified Person under the guidelines of the National Instrument 43-101.
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 44,164,304 common shares issued and outstanding exclusive of the announced financing. For additional information, please visit us at www.houstonlakemining.com.
Forward-looking Statements
Neither 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.
SOURCE: Houston Lake Mining Inc.
Houston Lake Mining President Trevor R. Walker, MBA, 705-897-7622 Fax: 705-897-7618
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