Mountain Lake Resources Inc

Published : August 10th, 2009

Today's Mountain Lake News

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment
Keywords :   Diamond | Gold | South Africa |

Mountain Lake Commences Exploration and Resource Expansion Drilling at Valentine Lake, in Central Newfoundland

Property includes a NI 43-101 compliant inferred resource of 1,314,780 tonnes grading 10.50 g/t or 443,000 ounces of gold (uncut) and a total strike length of 29 kms that remains significantly underexplored

Halifax, Nova Scotia, August 10, 2009 – Mountain Lake Resources Inc. (TSX-V: MOA) (“Mountain Lake” or the “Company”) is pleased to report that it has commenced drilling on the Valentine Lake property (the “Property”) located in Central Newfoundland, 55 km south of the town of Buchans.  The Property consists of four (4) mineral licenses covering a total area of 13,475 hectares.  Mountain Lake currently owns a 30% interest in the Property and has an option to acquire the remaining 70% from Richmont Mines Inc.

Mountain Lake is the operator of the Valentine Lake project and the primary objective of the current program will be to determine the significance of several, single to multi drill hole, isolated intercepts that have been encountered in previous drill campaigns in areas several kilometers northeast of the Leprechaun Pond deposit or Main Zone.  The program will also focus on drill testing the southwest end of the Leprechaun Pond deposit to determine if it remains open in that direction.  This next phase of exploration is designed to demonstrate both the potential for further deposits within the 29 km strike length of the property as well as the potential to increase the current resource in the area of the Main Zone.

Mr. Gary Woods, P.Geo., President and CEO of Mountain Lake, is the Qualified Person on the Valentine Lake  project, and has reviewed and verified the contents of this news release.

About the Valentine Lake Property

The Valentine Lake Property's Leprechaun Pond Deposit hosts a NI 43-101 compliant inferred mineral resource of 1,314,780 tonnes grading 10.50 grams per tonne (g/t) gold using a 5 gpt gold minimum cut-off and a 3 metre minimum width for a total estimated mineral resource of 443,000 ounces of gold.  Cutting individual assays to 58 g/t gold, the average grade is 8.51 g/t gold, for a total estimated mineral resource of 359,000 ounces of gold at the cut grade.  The Deposit is open at depth.  The resource estimate of the Valentine Lake Property presented in the NI 43-101 Technical Report dated January 12, 2005 was performed by Larry Pilgrim, P. Geo. a Qualified Person (see: NI 43-101 Valentine Lake Technical Report). Strong and extensive soil geochemistry over more than 20 km indicate excellent potential for additional gold discoveries to be made on the Property.

About Mountain Lake Resources Inc.

Mountain Lake Resources Inc. (TSX-V: MOA) is a diversified junior mining and exploration company whose corporate strategy is to build shareholder value through the exploration and development of economically viable mineral properties.  Current projects include: a 30% interest in the Valentine Lake gold project (Newfoundland) with and option to acquire the remaining 70% interest from Richmont Mines Inc.; a 100% interest in the Bobby’s Pond base metals project (Newfoundland) with an option to acquire initially a 51% interest in the surrounding claims from Cornerstone Capital Resources; an option to earn a 100% interest in the Little River gold exploration property (Newfoundland); and a 13.07% stake in Etruscan Diamonds Limited, an alluvial Diamond operation (South Africa). For more information visit: www.mountain-lake.com

For corporate, media, or investor inquiries, please contact:

Greg Lytle,

Communications Manager

Mountain Lake Resources Inc.

North America toll-free: (866) 285-5817

International & Vancouver: (604) 839-6946

Email: info@mountain-lake.com

ON BEHALF OF THE BOARD OF DIRECTORS

s/“Gary Woods

President & CEO

 

 

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 NEWS RELEASE

 

 

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

Mountain Lake Resources Inc

EXPLORATION STAGE
CODE : MOA.V
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
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
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
3/27/2008COMPLETE ACQUISITION OF VALENTINE LAKE GOLD PROPERTY
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
TSX-V (MOA.V)Other OTC (MLKRF)
0.320-3.03%0.330-8.33%
TSX-V
CA$ 0.320
07/03 13:53 -0.010
-3.03%
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
Produces
Develops
Explores for Copper - Gold - Lead - Silver - Zinc
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
Last updated on : 12/1/2010
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
 
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 :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.02+2.33%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
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
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 3.26+4.15%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.58+1.93%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.10-9.09%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 2.43-0.41%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$ 6.98+0.14%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.26+0.00%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.30+8.16%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$ 2.22+1.37%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 60.13-1.38%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.04+0.00%Trend Power :