SUDBURY, Ontario--(BUSINESS WIRE)--
Houston Lake Mining Inc. (HLM.V), is a mining exploration
company which is actively exploring for rare metals lithium, tantalum,
rubidium and cesium by currently advancing its 100% owned and optioned
PAK Rare Metals Project in northwestern Ontario, Canada. HLM is pleased
to announce the addition of 500 metres to the originally planned 1,000m
announced on the February 18, 2014 press release. The phase II diamond
drill program is a follow-up to the Canadian National Instrument (N.I.)
43-101 maiden mineral resource estimate that was filed by the Company in
December 2013, see news release dated December 4th, 2013. The
drill program focused on the recommendations from the report and is
designed to expand and infill the current resource on the project by
testing along strike and to infill on selected sections of the deposit
with a particular focus on the higher grade Upper Intermediate Zone
(UIZ) of the deposit.
The drill program consisted of 1,500m in seven holes targeting the
Pakeagama Lake pegmatite. The objectives of the program are (1) to
upgrade some of the resource to an indicated level, specifically some of
the 1.17 million tonnes grading 3.44% Li2O in the technical/ceramic
grade spodumene lithium zone (UIZ) with low inherent iron, and (2) to
expand the resource which currently has a 265m strike length with an
estimated width varying from 45 to 125m with a sub-vertical orientation.
Samples are currently being processed and will be sent to the laboratory
shortly. The assay results of all drillholes will be released once
analyses have been reviewed and are subject to QA-QC review.
About the PAK Rare Metals Project
The PAK Rare Metals
Project lies close to the boundary between two geological sub-provinces
in northwestern Ontario. The deposit is a LCT (lithium, cesium,
tantalum) classified pegmatite. These rare types of deposits have been
the principal source of hard rock lithium, tantalum, rubidium and cesium
ores mined in the world.
HLM is actively developing its 100% owned and optioned project which
contains the Pakeagama Lake pegmatite. The deposit has a current new
NI-43.101 compliant Inferred Resource of 6.89 million tonnes of 1.86% Li2O
Eq. The pegmatite uniquely hosts 1.17 million tonnes grading 3.44% Li2O
in a technical/ceramic grade spodumene lithium zone (UIZ) with low
inherent iron content. The Pakeagama Lake pegmatite has a 265m strike
length with an estimated width varying from 45 to 125m with a
sub-vertical orientation of the pegmatite. The resource remains open to
depth and along strike to the northwest and southeast.
About Houston Lake Mining Inc.
HLM’s goal is to become a
fully integrated lithium and tantalum producer by targeting the growth
as a result of the shift towards electric/hybrid vehicles and high
quality consumer electronics through the development of the PAK Rare
Metals Project in Ontario, Canada. Combined, HLM’s Board of Directors
and Management have over 255 years of exploration and mining experience
in order to facilitate the Company’s goal of becoming a raw material
supplier of the elements required for the pursuit of sustainable energy,
and other applications in high-tech electronics and metal alloys.
HLM has a total of 80,215,695 common shares issued and outstanding. For
additional information, please visit www.houstonlakemining.com.
Company Contact Information
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Trevor R. Walker, President
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Henry Kloepper, CEO
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2736 Belisle Drive
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T. +001 416.520.0187
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Val Caron, ON.
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P3N 1B3 CANADA
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T. +001 705.897.7622
F. +001 705.897.7618
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 http://www.sedar.com