Mountain Lake Resources Inc

Published : March 13th, 2011

Provides Update on Little River Antimony-Gold Project in Southern Newfoundland

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  


Mountain Lake Res. provides update on little river antimony-gold project in southern newfoundland








Mountain Lake Resources Inc. (TSX-V: MOA) (“Mountain Lake” or the “Company”) is pleased to announce that line cutting and soil sampling is underway on the Little River Property to identify further antimony and gold drill targets for the 2011 drill campaign. 


Antimony bearing veins (stibnite) have now been identified intermittently over a 20 kilometre (km) strike length on the Property, with several high grade, drill ready antimony targets located in the Southern Zone (SW) and LePouvoir Vein Zone (NE) areas of the Property.  The Company had expected to have started drilling these targets last month, but winter weather conditions and drill crew availability has postponed the start of drilling until the later part of this month.


The Little River Property was optioned from local prospectors in 2008 and Mountain Lake is on plan to earn a 100% interest in the Property next year.  While Little River is still a discovery stage project, there is precedent in Newfoundland of a high grade antimony vein discovery evolving into one of the largest antimony deposits in the world—Beaver Brook, which is currently the only primary antimony mine in North America.  Mountain Lake President Gary Woods stated previously in a news release of December 21, 2010, “The intervals of high grade antimony [at Little River] are significant and are typical of the material being mined at the Beaver Brook Antimony Mine situated 80 km to the north of the Le Pouvoir Vein Zone.”


In October of 2009, Hunan Nonferrous Metals Corporation (HNC), the largest antimony company in the world, acquired 100% of the Beaver Brook Antimony Mine.  Subsequently at the end of 2009, China Minmetals Corp., China’s biggest metal trader, acquired a 51% equity stake of Hunan Holdings Group (HNG), the state-owned parent of HNC.  The state-owned Assets and Supervision Administration Commission of Hunan Province own the remaining 49% of HNG.


About Antimony


Antimony can occur in its native form, but is usually found in other minerals and most commonly in the mineral stibnite. A silvery-white crystalline metal, antimony is used to increase hardness and strength of metal alloys; and antimony and its compounds are widely used in the production of flame-retardants, batteries, ammunition, cable sheathing, glass, ceramics, paints and in the semiconductor industry. 


Like many of the rare earth elements (REEs), antimony has been deemed as one of the “critical metals” essential for economic development and national security by the United States and the European Union.  As with the REEs, China produces over 90% of the world’s antimony supply and pricing continues to reach new highs in 2011 on growing supply concerns that are compounded by new environmental standards being put in place that have affected all producers in China and resulted in the closure of dozens of illegal antimony smelters in Hunan province. quoted the price for antimony yesterday at bid US$15,250 / ask $15,750 per tonne, amid reports that Chinese sellers will not offer below $15,500 per tonne.  This is up over 50% since August 2010 and 250% since April of 2009.


Gary Woods, P.Geo., is the Qualified Person on the Little River Property, and has reviewed and verified the contents of this news release.


About Mountain Lake Resources Inc.


Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior exploration company, whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties. Mountain Lake’s current projects include: a 50% interest in the Valentine Lake gold property (Newfoundland) under the joint venture with Marathon Gold Corp.; a 100% interest in the Glover Island gold exploration property (Newfoundland); an option to earn a 100% interest in the Little River gold-antimony exploration property (Newfoundland); a 100% interest in the Bobby’s Pond base metals property (Newfoundland); and a minority (~6.4%) stake in Etruscan Diamonds Ltd., an alluvial diamond project (South Africa).  For more information visit:















Data and Statistics for these countries : South Africa | All
Gold and Silver Prices for these countries : South Africa | All

Mountain Lake Resources Inc

ISIN : CA62419J1030
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
Projects & res.
Asset profile
Contact Cpy

Mountain Lake Res. is a zinc and lead development stage company based in Canada.

Mountain Lake Res. produces zinc, lead, diamonds in South Africa, and holds various exploration projects in Canada.

Its main assets in production are DIAMOND PROJ # 1 (NOOITGEDACHT 131) and DIAMOND PROJECT #2 (MOOI RIVER) in South Africa and its main exploration properties are LITTLE RIVER, VALENTINE LAKE (LEPRECHAUN) and BOBBY'S POND (MLR) in Canada.

Mountain Lake Res. is listed in Canada and in United States of America. Its market capitalisation is CA$ 16.1 millions as of today (US$ 15.9 millions, € 12.6 millions).

Its stock quote reached its highest recent level on September 26, 2003 at CA$ 1.44, and its lowest recent point on December 12, 2008 at CA$ 0.08.

Mountain Lake Res. has 50 412 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
Annual reports of Mountain Lake Resources Inc
2007 Annual report
Financings of Mountain Lake Resources Inc
6/21/2010Arranges Private Placement Financing
3/10/2008Completes Private Placement
Project news of Mountain Lake Resources Inc
7/5/2012Marathon - Marathon Gold Receives Court Approval for the Arr...
3/13/2011(Little River)Provides Update on Little River Antimony-Gold Project in Sou...
3/8/2011(Valentine Lake (leprechaun))Leprechaun Gold Deposit Continues to Grow with Latest Result...
1/19/2011(Valentine Lake (leprechaun))Announces the Start-up of the 2011 Drilling Campaign at Lepr...
4/8/2010Drilling Intersects Two High Grade Intervals Over 105 g/t (3...
3/25/2010(Valentine Lake (leprechaun))Mtn Lake - Latest Drill Results
12/9/2009(Little River)Completed Drill Program on the Little River Gold
11/10/2009(Little River)Commences Drilling at Little River
9/22/2008(Bobby's Pond (mlr))Reports a Substantial Resource Increase at Bobby’s Pond
1/29/2008(Bobby's Pond (mlr))Drilling Continues to Extend Mountain Lake’s
12/12/2007(Falls Grid Gold) Options Gold Property West of Bathurst, New Brunswick
5/31/2006provides corporate update on main projects
Corporate news of Mountain Lake Resources Inc
12/23/2009Enters Joint Venture with Marathon
10/15/2009 Trenching Results Reveal Strong Gold Values Plus New Discov...
8/25/2009Today's Mountain Lake News
8/10/2009Today's Mountain Lake News
7/3/2009Adds Mining Engineer to Board of Directors
5/20/2009AGM reminder
1/7/2009Today's Mountain Lake News
9/2/2008Options New Gold Property in Southern Newfoundland
3/12/2008Etruscan Diamonds’ February Sales Average Over $750 Per Cara...
2/6/2008Substantial Increase in Blue Gum Resource and Stronger Diamo...
10/9/2007Today's Mountain Lake News
9/10/2007arranges $ 2 million financing with Sprott Asset Management
2/26/200707-02 - Cornerstone signs Mountain Lake to joint venture on ...
Comments closed
Latest comment posted for this article
Be the first to comment
Add your comment
CA$ 0.320
07/03 13:53 -0.010
Prev close Open
0.330 0.320
Low High
0.320 0.320
Year l/h YTD var.
 -  -
52 week l/h 52 week var.
- -  0.320 -%
Volume 1 month var.
6,500 -%
24hGold TrendPower© : -44
Explores for Copper - Gold - Lead - Silver - Zinc
Interactive chart Add to compare
Print Compare Export
Last updated on : 12/1/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
Annual variation
5 years chart
3 months chart
3 months volume chart
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
announces expected non-cash impairment
AU$ 7.62-0.13%Trend Power :
Oceana Gold(Au)OGC.AX
AU$ 2.20+0.00%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.86+0.00%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
US$ 7.27-0.68%Trend Power :
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
Reduced Funding Requirement
GBX 0.67+6.35%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.06+30.00%Trend Power :
Closes Bridge Loan Financing
CA$ 2.13-0.47%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 1.84+0.00%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 9.41-3.59%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.22+0.00%Trend Power :
Q A April 2017 Quarterly Report
AU$ 0.24-2.04%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 1.44-4.64%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 46.69-0.13%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
2nd Quarter Report
AU$ 0.02+0.00%Trend Power :