Houston Lake Mining Inc

Published : June 27th, 2007

Extends Gold Zone and Completes Drill Program

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Houston Lake Mining Inc.       (HLM-TSX.V)

_________________________________________________________________________________________________

For Immediate Release

 

 

Houston Lake Extends Angel Hill Gold Zone at Surface and Completes Drill Program

 

 

June 27, 2007: Sudbury, Ontario, Canada - Houston Lake Mining Inc. (TSX.V: HLM, the "Company") is pleased to report that mechanized stripping and washing carried out on one of the four or more gold systems on the Company’s 100% owned and optioned 1673.6 hectare (4134.5 acre) West Cedartree Gold Project located near Sioux Narrows, Ontario, has now extended the Angel Hill Gold Zone (AHGZ) at surface for a total strike length of more than 200m (656ft.). IP surveys in 2006 and recently in 2007, have depicted an extremely prominent chargeability anomaly that can be traced from the AHGZ bulk sample site southward across the McLennan and West Cedartree properties and northward across the Dogpaw and Dogpaw West properties for an overall strike length that spans at least 2.8km (1.7 miles).

 

Four drill holes totaling 528.2m (1561.7ft.) were drilled in preparation for a down hole spectral IP survey that was carried out last month. Three of these drill holes were completed along the trace of the newly exposed southern extension of the AHGZ. The zone remains open in both directions along strike and to depth. A fourth drill hole tested the McLennan Gold Zone.  Geologic mapping and prospecting programs are currently underway, including mechanized stripping, detailed mapping and channel sampling programs. The goal of this work is to generate new drill targets near existing gold resources.

 

A total of 275 drill core samples including historic core from the 1988 drilling of the Dogpaw No. 1 Vein were shipped for assay analysis late last week. Re-examination of historic core combined with recent drilling and surface work, will guide a drill program planned for late summer/early fall with the objective of completing a NI43-101 resource calculation for the Dogpaw No. 1 Vein.

 

All drill core samples were shipped to TSL Laboratories of Saskatoon, Saskatchewan and will be analyzed by fire assay utilizing a 50 gram charge. Samples will be assayed with an AA finish and those samples assaying above 3 g/mt Au were retested utilizing a gravimetric finish. Forty-five of the 102 drill core samples will be analyzed utilizing a screen metallic assay method. This methodology provides a higher level of assurance by testing a large quantity of sample (1000g) and by monitoring the size distribution of the gold. The samples will also be re-checked at a second qualified laboratory in keeping with the Company’s standard due diligence procedures.

Independent Consultant Dean R. Cutting, P. Geo., is the Qualified Person for the project under the guidelines of NI 43-101 and has reviewed this press release in its entirety.

 

Angel Hill Gold Zone (“AHGZ”)

 

The AHGZ has an estimated inferred mineral resource of 106,400 tonnes grading 2.97 g/mt Au at a cutoff of 2 g/mt (117,286 short tons grading 0.087 oz/st Au at a cutoff of 0.058 oz/st) or 49,700 tonnes grading 4.77 g/mt Au at a cutoff of 4 g/mt (54,785 short tons grading 0.139 oz/st Au at a cutoff of 0.117 oz/st). The inferred mineral resource was determined by systematic channel sampling of a 130m (426ft.) strike length of the AHGZ exposed by stripping and by drilling to a depth of 75m. In 2006 a 1037m (3402ft) drill program was successful in extending the zone to a depth of 100m (328ft).

 

In spring of 2006 a bulk sample was taken from the AHGZ and processed at a third party mill. A total of 1041.2 tonnes (1147.7 short tons) yielded an average head grade of 5.67 g/mt Au (0.165 oz/st Au). The total contained gold was 5,903.6 grams (189.8 ounces) and 5,490.4 grams (176.5 ounces) of gold was produced at a reported recovery of 93%. The Company received a cash settlement of $131,893.84 and had a net profit of $51,848.12.

 

 

Dogpaw No. 1 Vein System

 

The Dogpaw Lake Property “DPL” has an extensive exploration history dating back to the 1940’s. Four main gold zones and ten documented gold occurrences have been discovered thus far on the property. An historic resource estimate of 53,741 metric tonnes grading 15.43 g/mt Au (59,240 short tons grading 0.45 oz/st Au) remains after the extraction of a 454 metric tonne (500 short ton) bulk sample grading 8.23 g/mt Au (0.24 oz/st Au) from the Dogpaw No. 1 Vein.

 

A winter 2561m (8400ft) delineation drilling program targeted the historic gold resource of the Dogpaw No. 1 Vein. Fourteen of 17 drill holes intersected grades of 3.31 g/mt Au (0.97 oz/st Au) or higher and established the continuity of the gold mineralization to the maximum depth tested of approximately 210m (689ft.). The vein system remains open to depth and along strike. The best result of the drill program was received from drill hole DP-2007-042 which yielded a core length intersection grading 29.90 g/mt Au over 7.50m (0.872 oz/st Au over 24.60 ft).

 

The Company’s exploration team have located, recovered and racked approximately 6,656m (21,831ft) of drill core from two previous drill programs. Only the portion of this drill core testing the Dogpaw No. 1 Vein is currently being re-logged and audited as part of the resource evaluation. Thirteen holes from a 2,333m (7,651ft) 19 hole 1988 drill program are currently being logged and sampled.

 

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. The data source for the DPL property is largely provided by assessment records and prior work conducted by Houston Lake. 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.

 

About Houston Lake Mining Inc.

 

Houston Lake’s objective in the short term is to become a gold producer by surface mining our West Cedartree gold project. The Company has a total of 24,724,989 common shares issued and outstanding. For additional information, we invite you to visit us at www.houstonlakemining.com.

 

Company Contacts:

 

A. Schwab & Associates                      E. Grayme Anthony B.Sc., P. Geo., FGAC, MBA  

Investor Relations                                 President  & CEO       

1-800-537-4099 (toll-free)                 Tel: (705) 897-7622     Fax: (705) 897-7618

aschwab@silk.net                     ganthony@vianet.on.ca

 

The TSX Venture Exchange has not reviewed and does not accept 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

EXPLORATION STAGE
CODE : HLM.V
ISIN : CA4419241076
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Houston Lake Mining is a gold and palladium exploration company based in Canada.

Houston Lake Mining holds various exploration projects in Canada.

Its main exploration properties are PAKEAGAMA LAKE, TIB LAKE, WEST CEDARTREE and DUBENSKI (WEST CEDARTREE) in Canada.

Houston Lake Mining is listed in Canada. Its market capitalisation is CA$ 31.1 millions as of today (US$ 23.8 millions, € 21.6 millions).

Its stock quote reached its highest recent level on March 14, 1997 at CA$ 3.50, and its lowest recent point on December 31, 2012 at CA$ 0.03.

Houston Lake Mining has 124 410 644 shares outstanding.

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Annual reports of Houston Lake Mining Inc
2007 Annual Report
Financings of Houston Lake Mining Inc
8/17/2010Announces Closing of $250,000 Flow-Through Financing
7/6/2010$250,000 Flow-Through Financing
1/13/2010Closing of Additional $135,000 Flow-Through Financing
12/23/2009Closing of $500,000 Flow-Through Financing
9/30/2009Raises $325 000 in a Fistr Closing of a $500 000 Private Pla...
6/17/2009Raises $100,000 In A Private Placement Financing
1/8/2009Closes a $755,200 Private Placement
12/29/2008Announces $755,200 in a Flow-Through Financing
9/4/2008Raises $200,000 In A Private Placement Financing
8/25/2008Raises $800,000 In A Flow-Through Private Placement
5/20/2008Raises $168,600 in First Tranche of $1.25 Million Flow-Throu...
4/18/2008Raise $1.0 Million in a Non-Brokered Flow-Through Private Pl...
11/22/2007COMPLETES $255,010 EQUITY OFFERING
Nominations of Houston Lake Mining Inc
1/6/2010Appoints Interim President
7/20/2009Appoints Robert Callander As New Board Member
2/13/2008 Appoints Corporate Advisory Firm for Proactive Investor Rel...
Project news of Houston Lake Mining Inc
8/23/2010(West Cedartree)Announces Potential New Gold Zone is Confirmed by Channel Sa...
7/22/2010(West Cedartree)Drilling Crews Mobilized
7/20/2010(West Cedartree)Discovers Potential New Gold Zone
6/25/2010(Dubenski (west Cedartree))Intersects 4.58 g/t Gold Over 1.7 Metres
5/19/2010Intersects 32.82 g/ over 0.95 metres of New Horizon at Duben...
4/20/2010Intersects 5.70 g/t Gold Over 3.0 Metres on Dubenski Gold Pr...
1/22/2010(West Cedartree)High Grade Channel Samples Returned
12/2/2009(West Cedartree)Technical & Drilling Crews Mobilized to Houston Lake Mining'...
11/18/2009(West Cedartree)High Grade Channel Samples Returned Lake Mining’s West Ceda...
11/5/2009(Dubenski (west Cedartree))Update on Dubenski Gold Property
9/15/2009(Pakeagama Lake)Plans Fall Exploration Program
8/18/2009(Dogpaw Lake)Expands Width of Gold Mineralizat on in Channel Sampling at ...
6/26/2009(West Cedartree)IP Survey Extends Angel Hill Gold Trend To Over 3.3 Km
6/5/2009(West Cedartree)Discovering Gold In Ontario
5/20/2009(Dubenski (west Cedartree))Continues To Encounter High Grade Gold In Drilling Along The...
3/10/2009(Dubenski (west Cedartree))Drilling Continues to Expand Gold Mineralization at Houston ...
2/17/2009(Dubenski (west Cedartree))Intersects More Gold at Dubenski
2/2/2009(West Cedartree)Updates Exploration on the West Cedartree Gold Project
1/16/2009Dubenski Gold Property NI 43-101
12/9/2008(Dogpaw Lake)Intersects 1.5 Metres Grading 15.98 G/mt Gold At Dogpaw
11/12/2008(West Cedartree)Begins Phase 2 Drilling
4/23/2008(West Cedartree)Intersects 256.94 g/mt Gold Over A Core Length Of 3.0 Metres...
3/26/2008Intersects More High Grade Gold Mineralization at Dubenski S...
3/19/2008Intersects High Grade Gold in First Four Drill Holes at Dube...
3/11/2008(West Cedartree)IP Survey On West Cedartree Gold Project Extends
2/20/2008(West Cedartree)intersects 23m grading 4.66 g/mt Au
1/10/2008(West Cedartree)Winter Exploration Begins on Houston Lake Mining’s West Ceda...
12/6/2007(West Cedartree)SIGNS 5,000METRE DRILL CONTRACT TO INITIATE EXPLORATION PROG...
6/26/2007(Tib Lake)Drilling Starts on Houston Lake Mining's PGM Project
Corporate news of Houston Lake Mining Inc
6/9/2016HLM Issues Common Shares on Exercise of Stock Options for Pr...
4/5/2016HLM Raises $811,635 in Non Flow-Through Financing
1/21/2016HLM Raises $823,720 in Flow-Through Financing
1/20/2016HLM Raises $823,720 in Flow-Through Financing
1/12/2016Hlm Identifies 28 Metres Of 4.41% Li2o At Surface Across Its...
1/7/2016HLM Appoints Mike Tamlin as New Director
12/22/2015HLM Announces $750,000 Flow-Through Financing
12/18/2015HLM Commences Resource Estimate update for the PAK Lithium P...
12/18/2015Hlm Extends Eastern Extension On The Pak Lithium Project Int...
12/17/2015HLM Commences Resource Estimate Update for the PAK Lithium P...
12/15/2015HLM Extends Eastern Extension on the Pak Lithium Project Int...
9/15/2015PHASE IV DIAMOND DRILL PROGRAM COMMENCES ON THE PAK LITHIUM ...
9/8/2015HLM Drills Eastern Extension On The Pak Lithium Project Inte...
7/30/2015HLM Raises $566,000 in Financing Oversubscribed by 26%
7/14/2015HLM Announces $450,000 Financing
4/7/2015HLM Announces Exercise of Warrants for Proceeds of $641,763
3/23/2015HLM Advances Toward Proof of Concept with Bulk Sampling Prog...
3/6/2015Phase III Diamond Drill Program Commences On The Pak Rare Me...
1/28/2015HLM Announces an Upgraded NI 43-101 Resource Estimate for th...
1/28/2015HLM Announces an Upgraded NI 43-101 Resource Estimate for th...
1/12/2015HLM Raises $359,155 in Flow-Through Financing Oversubscribed...
12/19/2014HLM Announces $200,000 Flow-Through Financing
12/16/2014HLM Identifies Further High Grade Lithium At Surface Through...
12/16/2014HLM Identifies Further High Grade Lithium at Surface Through...
12/8/2014HLM Commences Resource Estimate update for the PAK Rare Meta...
12/8/2014HLM Commences Resource Estimate update for the PAK Rare Meta...
11/11/2014Hlm Drills The Pak Inferred Resource Intersecting 2.01% Lith...
11/11/2014HLM Drills the Pak Inferred Resource Intersecting 2.01% Lith...
9/24/2014HLM Drills beneath the PAK Inferred Resource Intersecting 1....
9/2/2014HLM’s Phase II Drilling Confirms and Extends High-Grade Lith...
7/24/2014HLM Increases Land Position by 43% to 4,032 Hectares Through...
6/11/2014HLM Electron Microprobe Study Indicates Low Inherent Iron Sp...
4/15/2014HLM Appoints Metallurgist Ernie J. Marcotte (P.Eng, FCIM) as...
3/26/2014HLM Completes 7-Hole, 1,500 Metre Phase II Diamond Drill Pro...
3/26/2014Hlm Completes 7-Hole, 1,500 Metre Phase II Diamond Drill Pro...
3/18/2014Diamond Drill Program Commences on the PAK Rare Metals Proje...
1/17/2012- 2011 President's Address
9/19/2011announces assay results on its Dogpaw Lake Property
9/19/2011Assay Results on Dogpaw Lake Property
7/20/2011Press Release, July 20, 2011
7/20/2011July 20, 2011
6/1/2011Minng Press Release, June 1, 2011
6/1/2011June 1, 2011
4/13/2011Press Release April 13, 2011
3/23/2011March 23, 2011
2/28/2011Reports 3rd Quarter Financials
2/25/2011Interview with Trevor Walker
11/27/2009Raises $1.000.000 in a Flow-Trough Financing
10/15/2009Update on The West Cedartree Gold Project
7/9/2009Kenora exploration activity at historic highs
6/11/2009Featured Gold Company for 2009
2/19/2009Discloses AGM Results
12/18/2008Completes Phase II Drilling On The Dubenski Gold Property
11/10/2008Participates in Chicago Resource Expo
9/19/2008Continues To Define More Gold Mineralization At West Cedartr...
9/11/2008Completes Drilling at Dogpaw Lake
8/7/2008Updates Exploration on West Cedartree
7/22/2008Steady Drill Results Continue to Add Value to West Cedartree...
5/27/2008Completes Drill Program On West Cedartree Gold Project
5/1/2008Provides An Update On Exploration At West Cedartree Gold Pro...
4/15/2008Continues To Intersect Significant Widths Of Gold Mineraliza...
2/1/2008 Exploration Update on Houston Lake Mining’s West Cedartree ...
12/18/2007Continues to Intersect Significant Gold Values in Channel Sa...
6/27/2007Extends Gold Zone and Completes Drill Program
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